Alphatec Spine Appoints New Vice President of Operations
21 März 2012 - 1:15PM
Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of
Alphatec Spine, Inc., a medical device company that designs,
develops, manufactures and markets products for the surgical
treatment of spine disorders, with a focus on treating conditions
related to the aging spine, announced today that Michael Plunkett
has been named the Company's Vice President of Operations.
Mr. Plunkett will have responsibility for direction and
leadership of Alphatec Spine's U.S. Operations, including Supply
Chain, Production, Manufacturing Engineering and Facilities. He has
held various positions in Operations, Information Technology, and
Program Management, and was most recently a Managing Director with
the First Marblehead Corporation in Boston, MA. Prior to that, Mr.
Plunkett served more than 24 years in the U.S. Navy, and retired
with the rank of Captain in July 2003.
"We are pleased to have Mike join the Alphatec Spine team to
lead our U.S. operations, along with Pat Ryan, our COO," said Les
Cross, Alphatec Spine's Chairman and Chief Executive Officer. "We
expect 2012 to be a pivotal year for Alphatec Spine's operational
strategy as we strengthen our global manufacturing efficiency and
streamline our cost structure. We have made good progress during
the past few months, but we still have much to accomplish with our
initiatives to reduce cost of goods sold and increase efficiency in
our U.S. and international operations to strengthen gross profit
margins. Mike is a welcome addition to help us execute our strategy
and realize our annualized cost savings goal of approximately $2
million. He will also be an integral member of our senior
leadership team as we drive toward our goal of being a global
leader in the spine market. We look forward to capitalizing on
Mike's contributions in both the short-term and long-term
future."
About Alphatec Spine
Alphatec Spine, Inc. is a wholly owned subsidiary of Alphatec
Holdings, Inc. (Nasdaq:ATEC). Alphatec Spine is a medical device
company that designs, develops, manufactures and markets products
for the surgical treatment of spine disorders, primarily focused on
the aging spine. The Company's mission is to combine
world-class customer service with innovative, surgeon-driven
products that will help improve the aging patient's quality of
life. The Company is poised to achieve its goal through new
solutions for patients with osteoporosis, stenosis and other aging
spine deformities, improved minimally invasive products and
techniques and integrated biologics solutions. In addition to
its U.S. operations, the Company also markets its products in over
50 international markets through its affiliate, Scient'x S.A.S.,
via a direct sales force in France, Italy and the United Kingdom
and via independent distributors in the rest of Europe, the Middle
East and Africa, South America and Latin America. In Japan,
the Company markets its products through its subsidiary, Alphatec
Pacific, Inc. In the rest of Asia and Australia, the Company
sells its and Scient'x's products through its and Scient'x's
distributors.
The Alphatec Holdings, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3520
Forward Looking Statements
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995 that involve risks and uncertainty. Such statements are
based on management's current expectations and are subject to a
number of risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. Alphatec Spine cautions investors that there can be no
assurance that actual results or business conditions will not
differ materially from those projected or suggested in such
forward-looking statements as a result of various factors. Forward
looking statements include references to Alphatec Spine's ability
to achieve its initiatives to drive manufacturing efficiencies and
expected annualized cost savings; and its ability to capitalize on
Michael Plunkett's contributions in the short-term and long-term
future. The words "believe," "will," "should," "expect," "intend,"
"estimate" and "anticipate," variations of such words and similar
expressions identify forward-looking statements, but their absence
does not mean that a statement is not a forward-looking statement.
The important factors that could cause actual operating results to
differ significantly from those expressed or implied by such
forward-looking statements include, but are not limited to; the
uncertainty of success in reducing costs of goods sold in global
manufacturing operations; developing new products or products
currently in Alphatec Spine's pipeline; the successful global
launch of the Company's new products and the products in its
development pipeline; failure to achieve acceptance of Alphatec
Spine's products by the surgeon community; failure to obtain FDA
clearance or approval for new products, or unexpected or prolonged
delays in the process; Alphatec Spine's ability to develop and
expand its US and/or global revenues; continuation of favorable
third party payor reimbursement for procedures performed using
Alphatec Spine's products; unanticipated expenses or liabilities or
other adverse events affecting cash flow or Alphatec Spine's
ability to successfully control its costs or achieve profitability;
uncertainty of additional funding; Alphatec Spine's ability to
compete with other competing products and with emerging new
technologies; product liability exposure; patent infringement
claims and claims related to Alphatec Spine's intellectual
property. Please refer to the risks detailed from time to time in
Alphatec Spine's SEC reports, including quarterly reports on Form
10-Q, reports on Form 8-K and annual reports on Form 10-K. Alphatec
Spine disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise, unless required by law.
CONTACT: Investor/Media Contact:
Mark Francois
Senior Director, Investor Relations
Alphatec Spine, Inc.
(760) 494-6610
mfrancois@alphatecspine.com
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