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Alphatec Spine Announces First Quarter 2009 Revenue and Financial Results

CARLSBAD, Calif., May 04, 2009 (BUSINESS WIRE) — Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, with a focus on treating conditions related to the aging spine, announced today financial results for the first quarter ended March 31, 2009.

First Quarter 2009 Highlights:

> Record consolidated revenue of $30.6 million reported in the first quarter 2009 represents 32.0% growth over the first quarter 2008 and 7.6% sequential growth over revenues reported in the fourth quarter of 2008.
> US revenue growth of 27.7% over prior year was approximately three times greater than US spine market growth
> European revenue of $1.0 million reported in the first quarter 2009
> Adjusted EBITDA reached $1.4 million in the first quarter 2009, reflecting strong operating leverage.
> Raising 2009 revenue guidance to a range of $125 million to $128 million from previous guidance of $123 million to $125 million. Raising 2009 adjusted EBITDA guidance to a range of $12.5 million to $14.5 million from previous guidance of $12 million to $14 million. Re-affirming EPS guidance of EPS positive by the third quarter of 2009.
> Continued investment to expand our Aging Spine and core product portfolio.
> Acquired proprietary technology to treat lumbar spinal stenosis, stand-alone interbody technology to treat degenerative conditions and distribution rights for a tissue-based invivo wound covering product.
> Expanded fusion product portfolio:
> Initial commercial launch of Universal Novel(R) Anterior Lumbar Interbody Fusion (ALIF) System
> Full commercial release of OsseoFix+ Vertebroplasty System and the proprietary
> Vacuum Infusion Packaging (VIP) to be used with the AlphaGRAFT Profuse(TM) Demineralized Bone Scaffold product
> Full commercial release of Alphagraft(R) posterior lumbar implants and instrumentation
> Expanded European commercial adoption of OsseoFixTM Fracture Reduction System
> More than 50 patients, which represented more than 80 levels were treated in
> Europe in the first quarter for vertebral compression fractures using OsseoFix
> Executed new distribution agreements in Belgium, Denmark, Germany, Italy, The Netherlands, Austria and Spain

Josh Sandberg

Josh Sandberg is the President of Ortho Spine Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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