CARLSBAD, Calif., Feb. 11, 2008 (PRIME NEWSWIRE) -- Alphatec Holdings, Inc. (Nasdaq:ATEC), a leading medical technology company focused on the design, development, manufacturing and marketing of products for the surgical treatment of spine disorders, announced today that veteran research and development executive, Jens Peter ("J.P.") Timm, has agreed to join the company as Vice President of Research and Development. Alphatec will leverage J.P.'s substantial product development and clinical research and development experience in order to successfully commercialize Alphatec's significant product pipeline.
"J.P. Timm brings an extensive background in product development to the Vice President of Research and Development position at Alphatec. His leadership will help Alphatec bring to market many exciting and revolutionary new product candidates," said Dirk Kuyper, Alphatec's President and Chief Executive Officer. "We look forward to working with J.P. to leverage his talents to help insure our product development pipeline comes to market as quickly as possible. His expertise will help us as we focus on providing solutions for the aging population, many of whom are likely to suffer from osteoporosis, vertebral compression fractures, stenosis and other spinal deformities."
"I am very excited to join an industry leading company that is fast-moving, driven to succeed and has tremendous opportunity ahead of it," said Mr. Timm. "I look forward to bringing my experience and skills to Alphatec, whose innovative technology and products could transform the spinal disorder marketplace for spine surgeons and their patients."
Mr. Timm, who was selected after an extensive search, had been the Vice President of Research and Development at Applied Spine Technologies Inc. since 2004. From 1999 to 2004, Mr. Timm served in various engineering and research and development capacities at Interpore Cross International, most recently as Director of Development, Anterior Fusion and Disc Systems. From 1997 to 1999, Mr. Timm served as a Development Engineer with Biomet, Inc. Mr. Timm has had deep involvement in developing new products for spinal pathologies, is a named inventor on several patents, and an author of several peer-reviewed publications. Mr Timm has extensive experience with bringing products to market through both the 510(k) premarket approval process, as well as through a PMA approval process. Mr. Timm is a charter member of the Spine Arthroplasty Society and earned a B.S. degree in Biomedical Engineering from Rensselaer Polytechnic Institute in Troy, New York.
About Alphatec
Alphatec Holdings, Inc. (Nasdaq:ATEC) designs, develops, manufactures and markets products for the surgical treatment of spine disorders. Alphatec's broad product portfolio and pipeline includes a variety of spinal implant products and systems focused on solutions addressing the cervical, thoracolumbar, intervertebral, minimally invasive, motion preservation, vertebral compression fractures and allograft markets. Alphatec's "surgeons' culture" emphasizes collaboration with spinal surgeons to conceptualize, design and co-develop a broad range of products. State-of-the-art in-house manufacturing capabilities provide a unique competitive advantage, enabling Alphatec to rapidly deliver customized solutions to meet surgeons' and patients' critical needs. Alphatec has 22 issued U.S. patents, six issued foreign patents and 31 pending patent applications, including 10 pending U.S. applications, six pending international applications and 15 pending foreign national applications. Alphatec's principal product offerings are primarily focused on the global spine fusion market, which is estimated by Alphatec to be more than $7.0 billion in 2007. In addition to its U.S. operations, Alphatec also markets a range of spine and orthopedic products in Asia through its subsidiary, Alphatec Pacific, Inc. For more information, please visit www.alphatecspine.com.
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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. These forward-looking statements include, but are not limited to: Alphatec's expected revenues in 2008, Alphatec's ability to accelerate new product momentum, bring to market differentiated products and commercialize its product pipeline. Alphatec 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, including, but not limited to, the following: Alphatec's ability to maintain its level of previously reported sales growth, Alphatec's ability to successfully control its costs, Alphatec's ability to successfully leverage upon the experience of its Scientific Advisory Board, Alphatec's ability to develop and expand its spine fusion business in the United States, Asia and Europe, Alphatec's ability to enter the high-growth areas of spine disorders, including the market for disorders that are prevalent in aging patients, Alphatec's ability to meet fiscal year 2008 revenue guidance in either the United States, Asia or Europe, Alphatec's ability to expand and maintain a successful sales and marketing organization, continuation of favorable third party payor reimbursement for procedures performed using Alphatec's products, unanticipated expenses or liabilities or other adverse events affecting cash flow or Alphatec's ability to successfully control its costs or achieve profitability, uncertainty of additional funding, uncertainty of success in developing new products or products currently in Alphatec's pipeline, including those products that are intended to treat disorders prevalent in aging patients uncertainty of success in bringing to market differentiated products that meet the evolving needs of the contemporary spine surgeon, including without limitation a dynamic anterior cervical plate, demanding patients, and cost conscience healthcare providers, failure to successfully introduce, develop and commercialize new products, failure to achieve acceptance of Alphatec's products by the surgeon community, failure to obtain FDA clearance or approval for new products, Alphatec's ability to compete with other competing products and with emerging new technologies within and outside of spinal fusion, product liability exposure, patent infringement claims and claims related to Alphatec's intellectual property. Please refer to the risks detailed from time to time in Alphatec's SEC reports, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. Alphatec 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.