Alphatec Spine Announces Executive Leadership Changes
02 Januar 2014 - 10:05PM
Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of
Alphatec Spine, Inc., a medical device company that provides
physician-inspired solutions for patients with spinal disorders,
today announced that Mike Plunkett will succeed Pat Ryan as Chief
Operating Officer. Mr. Ryan, who has led Alphatec Spine's global
operations since 2011, has announced his intention to resign from
the company to pursue other opportunities.
Mr. Plunkett joined Alphatec Spine in 2012 as Vice President
Operations, where he was responsible for U.S. operations, including
supply chain, production, manufacturing engineering, facilities and
information technology. In his new role, Mr. Plunkett will have
responsibility for global supply chain, clinical, regulatory,
quality and research and development, as well as continuing to lead
and deliver improvements in global operations. In addition,
he will be focused on delivering Alphatec's next-generation pedicle
screw system to the market and ensuring that there is a continuous
flow of new products. Mr. Plunkett brings over 30 years of
proven results and experience leading complex supply chain
operations, manufacturing and program management, including serving
over 24 years in the U.S. Navy, retiring with the rank of Captain
in 2003. "During the last eighteen months Mike has been
responsible for driving many improvements in our U.S. operations,
including driving Lean Enterprise throughout the supply chain and
manufacturing functions," said Les Cross, Chairman and CEO.
"Mike's appointment to this role demonstrates the bench
strength of our management team," continued Mr. Cross. "We are
placing a proven and respected executive in a key position as we
continue to pursue our strategic objectives to deliver shareholder
value and help improve the lives of the patients we serve across
the globe."
Mr. Plunkett will report to Mr. Cross and will begin
transitioning into his new role immediately.
Pat Ryan has announced his resignation, but will stay with the
Company until mid-January to transition his responsibilities.
Mr. Cross added, "Pat has delivered strong results during his
time at the Company and we are grateful for the many contributions
he has made, including building a team and a culture that have
proven to be successful in our ongoing Company operations. We
wish him all the best in his future endeavors. I am confident
that Mike Plunkett will build further on the foundation Pat has
established."
In addition, Mike O'Neill, Chief Financial Officer, will assume
responsibility for international commercial operations.
Mr. O'Neill joined the Company in 2010 and brings more than 30
years of experience in international businesses, including over 20
years at Johnson & Johnson. "Mike possesses a deep
understanding of our international markets and customers, having
dealt closely with the global commercial team over the last three
years, which made him a natural choice to lead our international
commercial operations," said Mr. Cross.
About Alphatec Spine
Alphatec Spine, Inc., a wholly owned subsidiary of Alphatec
Holdings, Inc., is a medical device company that designs, develops,
manufactures and markets physician-inspired products and solutions
for the treatment of spinal disorders associated with trauma,
congenital deformities, disease and degeneration. The Company's
mission is to combine innovative surgical solutions with
world-class customer service to improve outcomes and patient
quality of life. The Company and its affiliates market products in
the U.S. and in over 50 countries internationally via a direct
sales force and independent distributors.
Additional information can be found at
www.alphatecspine.com.
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 the launch and commercial
acceptance of Alphatec Spine's next generation pedicle screw
system, future flow of new products, the ability of each of Messrs.
Plunkett and O'Neill to be successful in their new responsibilities
for the Company, 2013 revenue and adjusted EBITDA projections; the
success of the Company's initiatives to drive global sales growth,
increase margins and increase operating efficiencies. The words
"believe," "will," "should," "expect," "intend," "estimate,"
"anticipate," and "approximately" and 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. Please refer to the risks detailed from time to time in
Alphatec Spine's SEC reports, including its Annual Report Form 10-K
for the year ended December 31, 2012, filed on March 4, 2013 with
the Securities and Exchange Commission, as well as other filings on
Form 10-Q and periodic filings on Form 8-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:
Christine Zedelmayer
Investor Relations
Alphatec Spine, Inc.
(760) 494-6610
czedelmayer@alphatecspine.com
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