Alphatec (NSDQ:ATEC) today released updated information on the $80 million sale of its international operations and distribution channels to Globus Medical (NYSE:GMED), pushing the close date from October to early to mid-September. Alphatec said the deal includes a 5-year senior secured credit facility for up to $30 million from Globus Medical. The deal is still subject to […]
Alphatec
Alphatec deals international biz to Globus Medical for $80m
Alphatec (NSDQ:ATEC) said today it entered into an agreement with Globus Medical (NYSE:GMED) to sell its international operations and distribution channels for $80 million. Alphatec said the deal includes a 5-year senior secured credit facility for up to $30 million from Globus Medical. Alphatec said it plans to use portions of the cash offering to pay down […]
Danaher lures ex-Medtronic legal eagle Ellis for GC spot | Personnel Moves
Danaher (NYSE:DHR) said it lured Brian Ellis from Medtronic (NYSE:MDT) to be its new general counsel, replacing Jonathan Graham, who jumpoed ship for Amgen (NSDQ:AMGN) last May. Ellis was general counsel for Medtronic’s restorative therapies group, after stints as GC and chief compliance officer for monitoring solutions at GE Healthcare (NYSE:GE) “Brian brings a wealth of experience leading and […]
Layoffs: Medical device makers cut nearly 1200 jobs in California
Medical device companies have enacted layoffs for nearly 1,200 workers in California since the beginning of July, according to the Golden State’s Employment Development Dept., including some of the biggest names in medtech: Alphatec Spine (NSDQ:ATEC) laid off 99 employees at a facility in Carlsbad in early July. Boston Scientific (NYSE:BSX) cut 284 positions in Fremont and another 171 […]
Alphatec reveals FDA warning letter
Alphatec (NSDQ:ATEC) yesterday revealed that it received a warning letter from the FDA over problems at a plant in its home base of Carlsbad, Calif. The July 16 warning letter cites 8 “deficiencies” in Alphatec’s response to the FDA’s initial observations after it inspected the plant in February and March, the company said. “The deficiencies relate […]