Spine devicemaker Alphatec posted $62.2 million in second-quarter revenue but saw a loss of $38.2 million compared to the same period of 2020.
1. For the six months ended June 30, Alphatec has accumulated $105.6 million in revenue and a loss of $61.1 million.
2. During the second quarter, the company finalized its $116.9 million acquisition of EOS imaging. Alphatec and EOS imaging are combining their U.S. sales teams to create a capital and spine hardware distribution network.
3. "This is just the first inning," Alphatec CEO Pat Miles said in an Aug. 3 news release. "We intend to extend our prowess by equipping the AlphaInformatiX platform with unprecedented imaging information throughout the entire continuum of care, bringing the standards relied on by the world's most prestigious academic centers to spine surgery."
4. Alphatec said it expects 2021 revenue to hit $238 million, reflecting growth of 64 percent compared to 2020. About $25 million of full-year revenue is projected to come from EOS imaging.