1. Alphatec Holdings, the company’s parent company, will present at the Jeffries 2014 Global Healthcare Conference in June. Alphatec President and CEO Jim Corbett will provide a corporate overview of the company’s strategy within its markets, and a live audio webcast will be present at the conference. Mr. Corbett became President and CEO of the company at the end of April, when former CEO Leslie H. Cross announced retirement. Mr. Cross continues to serve as chairman of the board.
2. In its first quarter 2014 report, Alphatec Spine reported consolidated net revenue of $49.2 million. The company also reiterated its 2014 revenue guidance of $208 million to $215 million and adjusted EBITDA guidance of $30 million to $33 million.
“We are pleased with our bottom line results in the first quarter given that revenues were affected by our planned exit from the French market, loss of revenue contributions from PureGen in Q1 2013, and the effect of severe weather across the U.S.,” said Mr. Cross.
3. The company reported U.S. hospital non-biologics implant volume grew 15 percent in the first quarter over the same period last year, due primarily to the increased uptake of interbody solutions such as Novel and Alphatec Solus, as well as Zodiac Deformity. Sales from less-invasive product solutions increased around 10 percent over the same period last year, driven by strong update of Illico MIS in Japan.
“A key lever in delivering this strategy is growing the topline through surgeon uptake of our innovative technologies,” Mr. Cross said. “Our strategic focus on driving adoption of our less-invasive solutions, combined with the demonstrated benefits of our biologics offerings, will be further advanced through these new additions to our comprehensive portfolio and recent approvals in certain key markets.”
4. The company plans to refocus efforts to reinvigorate growth in the United States. In the first quarter of 2014, U.S. revenue dropped 3 percent compared to the same period last year. However, excluding revenue contributions from PureGen, the U.S. net revenues were flat from one year to the next. Strong hospital implants in the first quarter were offset by industry pricing pressures.
Internationally, net revenue was down only 1.5 percent in the first quarter. Excluding PureGen, international revenues increased approximately 8 percent.
5. In 2013, Alphatec Spine had representatives speaking at the Piper Jaffray Healthcare Conference, Stifel Healthcare Conference, Jefferies Global Healthcare Conference, Bank of America Merrill Lynch Health Care Conference and Oppenheimer Healthcare Conference. The company also hosted Technology Day in New York City.
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