Alphatec (NSDQ:ATEC) chairman & CEO Patrick Miles won summary judgment in a lawsuit filed by his former employer, NuVasive (NSDQ:NUVA), over his employment contract. Miles was chief operating officer of NuVasive when he left that company in October 2017 to take the reins at Alphatec. NuVasive sued Miles a week later, claiming that he enacted […]
FDA lures Vyaire exec Desai for CTO | Personnel Moves, August 23, 2019
The FDA lured former Vyaire Medical executive Vid Desai to take over as permanent CTO, according to Politico. Desai replaces acting CTO Mohammed Sohail Chaudhry, who’s held the role on an interim basis since 2015. Ebb Therapeutics puts Röösli in the corner office Insomnia device maker Ebb Therapeutics said yesterday that it put Eduard Röösli […]
Alphatec launches SingleStep implant delivery system
Alphatec (NSDQ:ATEC) yesterday announced the commercial launch of its InVictus minimally invasive SingleStep K-wireless implant delivery system. SingleStep eliminates the requirement for K-wires in percutaneous pedicle fixation procedures and reduces potential complications that can occur with inadvertent K-wire advancement in traditional minimally invasive pedicle screw placement technique. Instead, the Alphatec system uses an all-in-one driver that […]
Alphatec raises nearly $58m
Alphatec (NSDQ:ATEC) said last week that it succeeded in raising $57.7 million in a stock offering for its line of spine implants. The Carlsbad, Calif.-based company had said it planned to float 10.9 million shares at $4.60 apiece, for gross proceeds of $50.1 million. That number rose to $57.7 million because the flotation’s underwriters fully […]
Alphatec prices $50m offering
Alphatec (NSDQ:ATEC) today priced a stock offering worth north of $50 million for its line of spine implants. The Carlsbad, Calif.-based company said it plans to float 10.9 million shares at $4.60 apiece, for gross proceeds of $50.1 million. That number could rise to $57.7 million if the flotation’s underwriters fully exercise their over-allotment option for […]
Alphatec launches IdentiTi-PC porous titanium spine implant
Alphatec (NSDQ:ATEC) said yesterday that it launched its IdentiTi-PC porous titanium interbody implant system intended for use in transforaminal lumbar interbody fusion procedures. The launch follows successful alpha evaluations that began last August, and marks the third of six IdentiTi implant systems the Carlsbad, Calif.-based company expects to launch this year. “The commercial launch of IdentiTi-PC […]
Alphatec shares rise despite Q1 sales, EPS miss
Shares in Alphatec (NSDQ:ATEC) are rising today despite the medical device maker posting first quarter earnings that missed loss-per-share consensus on Wall Street. The Carlsbad, Calif.-based company posted losses of approximately $13 million, or 29¢ per share, on sales of approximately $24.6 million for the three months ended March 31, seeing losses grow 576.8% while sales […]
Miach Orthopaedics fills quality, clinical roles | Personnel Moves, April 17, 2019
Miach Orthopaedics said today that it tapped a pair of executives to oversee the quality systems and clinical program for the knee ligament repair device it’s developing. Miach is working on bio-engineered implants for surgical connective tissue repair, aiming first at anterior cruciate ligament repair with its Bridge-Enhanced ACL Repair device, a sponge that’s designed […]
Alphatec closes on expanded $30m credit facility
Alphatec (NSDQ:ATEC) said yesterday that it closed an expanded $30 million secured credit facility with Squadron Medical Finance Solutions. The Carlsbad, Calif.-based company said that funds from the newly expanded facility will be used to support general corporate purposes. In connection with the expansion, Alphatec said that it is issuing Squadron a warrant to purchase 4.8 […]
Alphatec wins FDA nod for SafeOp neuromonitoring system
Alphatec (NSDQ:ATEC) said today that it won FDA 510(k) clearance for its SafeOp neuromonitoring system, now cleared for use in real-time intraoperative nerve location and health assessment. The clearance expands the indications for the next-gen system to include more advanced algorithms for electromyography, which is used to test nerves for location, proximity and conduction. The system […]
Alphatec touts stay in NuVasive patent infringement case
Alphatec (NSDQ:ATEC) said today that a U.S. District Court granted a stay in a the patent litigation between it and competitor NuVasive (NSDQ:NUVA) while the U.S. Patent and Trademark Office considers recently filed challenges from Alphatec. The Carlsbad, Calif.-based company said that the stay, which was agreed to by both companies, was granted by the U.S. District […]
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