First Patient Surgical Implantation Successfully Completed
Featured at NASS Booth #1147
CARLSBAD, Calif., Oct. 01, 2015 (GLOBE NEWSWIRE) -- Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a global provider of spinal fusion technologies, announced today that the first patient surgical implantation of the Alphatec Neocore™ Osteoconductive Matrix, a synthetic scaffold for the regeneration of bone, was successfully completed. The Company will be showcasing Alphatec Neocore, as well as its portfolio of products at the upcoming North American Spine Society (NASS) Annual Meeting being held at McCormick Place West, Chicago, Illinois, from October 14th - 16th, 2015. Alphatec Spine will be located in booth number 1147.
“Alphatec Neocore provides surgeons with the handling characteristics and osteoconductive composition they’ve been looking for in bone grafting products,” explains Jim Corbett, President and Chief Executive Officer of Alphatec Spine. “Alphatec Neocore will expand our biologics opportunity —both here in the U.S. and internationally. This exciting new global biologic brand will give us the ability to operate more broadly in the global marketplace, bringing a compelling synthetic bone regeneration solution and competitive pricing to our surgeon and hospital customers worldwide.”
Alphatec Neocore Osteoconductive Matrix is a synthetic scaffold that is designed to provide an effective core environment for bone growth. When hydrated with patient bone marrow aspirate (BMA), Alphatec Neocore becomes a complete bone graft, which possesses all the necessary components of bone growth. Engineered to perform like natural bone, Alphatec Neocore’s composition and porosity provide the benefits of rapid revascularization throughout graft and supports replacement of three-dimensional matrix with healthy new bone growth.
Alphatec Neocore was developed by Thomas T. Haider, M.D., founder of the Haider Spinal Center in Riverside, California. In July, 2015, Alphatec Spine established a global, exclusive development and distribution agreement with Haider Biologics for Alphatec Neocore Osteoconductive Matrix, as well as other future products developed under the agreement. Alphatec Neocore is exclusively distributed through the Alphatec Spine distribution channels.
About Alphatec Spine
Alphatec Spine, Inc., a wholly owned subsidiary of Alphatec Holdings, Inc., is a global medical device company that designs, develops, manufactures and markets spinal fusion technology products and solutions for the treatment of spinal disorders associated with disease and degeneration, congenital deformities and trauma. The Company's mission is to improve lives by delivering advancements in spinal fusion technologies. The Company and its affiliates market products in the U.S. and internationally via a direct sales force and independent distributors.
Additional information can be found at www.alphatecspine.com.
About the North American Spine Society (NASS)
The North American Spine Society is a global multidisciplinary medical society that utilizes education, research and advocacy to foster the highest quality, ethical, value-based and evidence-based spine care for patients. The society is comprised of almost 9,000 members worldwide from disciplines including orthopedic surgery, neurosurgery, physical medicine and rehabilitation, pain management, physical/occupational therapy, anesthesiology, radiology and other health care professionals focused on the spine.
Additional information can be found at www.nassannualmeeting.org.
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 the Company's ability to achieve profitable growth; the Company’s ability to achieve both domestic and international growth and future profitability. 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 developing new products or products currently in Alphatec Spine's pipeline within forecast timeframes, or at all, including without limitation the products discussed in this press release; failure to achieve acceptance of Alphatec Spine's products by the surgeon community or hospitals, including without limitation the products discussed in this press release; Alphatec Spine's ability to develop and expand its U.S. and/or global revenues; continuation of favorable pricing or third-party payor reimbursement for procedures performed using Alphatec Spine's products, including the products discussed in this press release; 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; an unsuccessful outcome in any material litigation in which the Company is a defendant; 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 its Annual Report Form 10-K, 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.