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 […]
Boston Scientific shares tick up after Q4 prelims meet estimates | Wall Street Beat
Shares in Boston Scientific (NYSE:BSX) rose slightly this morning after the company reported preliminary results for the fourth quarter and full year of 2018 that were in-line with estimates on Wall Street. The Marlborough, Mass.-based company said it expects to report $2.56 billion in sales for the fourth quarter and $9.82 billion for the full year. […]
Si-Bone tops estimates with Q4 prelims | Wall Street Beat
Si-Bone (NSDQ:SIBN) said today that it expects to record fourth-quarter sales of $15.4 million to $15.6 million, up 12 – 13% from the same period last year. The company pegged its full-year sales for 2018 between $55.2 million and $55.4 million, up 15% from 2017. Analysts on Wall Street are expecting Si-Bone to post Q4 sales […]
Ex-NuVasive COO Miles loses in noncompete battle
Former NuVasive Inc. (NSDQ:NUVA) chief operating officer Patrick Miles has lost a battle with their former employer over the enforceability of a non-compete agreement in California after a Delaware Chancery Court ruled that non-compete agreements negotiated by legal counsel may be enforced against California residents, according to a National Law Review posting. California law generally prohibits […]
Alphatec raises $50m, acquires SafeOp Surgical
Alphatec (NSDQ:ATEC) had a busy day yesterday. The spinal implant maker revealed that it paid $27 million in cash and stock to acquire SafeOp Surgical and its intraoperative neuromonitoring technology, raised $50 million to cover the tab and made a raft of personnel changes – including the installation of former NuVasive Inc. (NSDQ:NUVA) exec Pat Miles as CEO. Oh, and […]
NuVasive levels poaching, infringement suit against Alphatec
NuVasive Inc. (NSDQ:NUVA) has filed a suit against Alphatec (NSDQ:ATEC) claiming the company hired on executives, including former COO and prez Pat Miles, with knowledge of its XLIF lateral interbody fusion procedures in an attempt to recreate the technology for its own products. In its infringement suit, submitted this week to the U.S. District Court for the Southern […]
Spinal Elements lifts former COO Blain to the corner office | Personnel Moves November 30, 2017
Spinal Elements, previously known as Amendia, said this week it is lifting co-founder and current prez & COO Jason Blain to the position of prez & CEO, effective immediately. Prior to coming on to co-found Spinal Elements, Blain served in various roles with medtech companies Smith & Nephew (NYSE:SNN), Alphatec (NSDQ:ATEC) and NuVasive Inc. (NSDQ:NUVA). Blain is replacing […]
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