Spinal implant manufacturer Alphatec received regulatory approval for its $116.9M acquisition of EOS Imaging and expects substantial growth in first-quarter revenue, according to Seeking Alpha.
1. On April 8, the company released preliminary revenue results for the first quarter, projecting total revenue to be between $43.7 million and $44.1 million, representing about 50 percent growth compared to the first quarter of 2020.
2. CEO Pat Miles expects 2021 U.S. revenue growth to exceed 30 percent, fueled by a "revitalized [Alphatec] sales force" and "surgeon enthusiasm" for products such as the prone transpsoas procedure, according to the report.
3. J. Todd Koning, former vice president of finance at NuVasive, has been appointed CFO of Alphatec, succeeding Jeffrey Black, who will resign April 18.
4. The company said it will report final first-quarter financial results on May 6.