What to expect from Alphatec in 2018: 5 key quotes

Written by Laura Dyrda | May 14, 2018 | Print  |

Alphatec reported $21.3 million in net revenue for the first quarter after making significant leadership and strategic changes last year.

The company also acquired SafeOp Surgical, an automated neuromonitoring technology, in the first quarter of 2018. Here are five quotes from Chairman and CEO Patrick Miles and President and COO Terry Rich, according to a transcript in Seeking Alpha.

Patrick Miles on implant technology: "In the second half of the year, we expect to begin enhancing our portfolio with the initial relapse of a collection of differentiated interbody implants. The implants utilize a porous titanium material that has been shown to promote bone growth, better manage implant biomechanical performance and improve energy."

PM on a changing strategy: "Historically, Alphatec, like most spine companies, manufactured widgets. By that I mean they're focused narrowly on individual, often non-differentiated products instead of an overall procedural requirement. The new Alphatec team is building sophistication into a procedurally focused portfolio."

PM on the SafeOp acquisition: "During the first quarter, we successfully completed the acquisition of SafeOp Surgical, which will substantially elevate our portfolio with unprecedented procedural safety and improve patient outcomes. We are on track to submit SafeOp's EMG technology for FDA clearance, which will soon enable us to pioneer an automated technology platform that uniquely combines SSEP and EMG."

Terry Rich on surgeon acquisition: "The number of surgeon visits to Alphatec headquarters has increased for the fifth consecutive quarter. In fact, surgeon visits during the first quarter of 2018 alone exceeded all of the surgeon visits recorded in the entire year of 2017."

TR on distribution relationships: "Since our first quarter of last year, we have terminated almost 40 of Alphatec's non-dedicated distributors while signing on new, dedicated, higher volume distribution relationships. These decisions have driven some lumpiness in our top line results, but they are a solid testament to our efforts."

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