CARLSBAD, Calif., Jan. 4, 2011 (GLOBE NEWSWIRE) — 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, today announced the first ever three-level Guided Lumbar Interbody Fusion (GLIF) procedure performed by Morgan Lorio, MD FACS of Bristol, TN. GLIF is the only lateral approach on the market today that provides the surgeon the ability to perform a 360-degree correction without repositioning the patient. The revolutionary GLIF technique and ARC Portal Access System is designed to allow surgeons to perform lateral interbody fusion procedures with the opportunity for less intra-operative blood loss and minimized tissue disruption; while decreasing the recovery time for most patients.
Dr. Morgan Lorio, an orthopedic spine surgeon at Neurospine Solutions in Bristol, TN completed the first three-level procedure using the proprietary ARC Portal Access System and instrumentation designed specifically for the GLIF technique. This system provides lateral access with direct visualization to the intervertebral disc space while allowing the patient to remain in the prone position. When augmented with posterior pedicle fixation, the ARC system eliminates the need to reposition the patient intra-operatively, thereby reducing the overall length of the lateral lumbar fusion procedure and potentially reducing operating room costs. “The GLIF system allowed me to achieve correction in a minimally invasive and timely manner that would not otherwise be possible with any other procedure currently on the market. The differentiated and unique dorso-lateral approach allows you to access both anterior and posterior elements of the spine to allow for a true 360-degree correction,” stated Dr. Lorio. The operation was performed on a 62-year old male patient with spinal instability and developmental stenosis associated with adjacent level degeneration.
Dirk Kuyper, President and CEO of Alphatec Spine said, “We believe the GLIF technique significantly advances the direct lateral approach in the form of a less-invasive and more-efficient lateral interbody fusion technique and the ability to perform a 360-degree procedure without repositioning the patient.”
In 2010, the U.S. market for minimally invasive interbody fusion devices is estimated to exceed $600 million (iData2010).
About Alphatec Spine
Alphatec Spine, Inc. is a wholly owned subsidiary of Alphatec Holdings, Inc. (Nasdaq:ATEC). Alphatec Spine is a medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, primarily focused on the aging spine. The Company’s mission is to combine world-class customer service with innovative, surgeon-driven design that will help improve the aging patient’s quality of life. The Company is poised to achieve its goal through new solutions for patients with osteoporosis, stenosis and other aging spine deformities, improved minimally invasive products and techniques and integrated biologics solutions. In addition to its U.S. operations, the Company also markets its products in over 50 international markets through its subsidiary, Scient’x S.A., via a direct sales force in France, Italy and the United Kingdom and via independent distributors in the rest of Europe, the Middle East and Africa, South America and Latin America. In Asia and Australia, the Company markets its products through its subsidiary, Alphatec Pacific, Inc, and through Scient’x’s distributors in China, Korea and Australia.
Also visit the Aging Spine Center, www.agingspinecenter.com, a web-based information portal for healthcare providers and patients regarding aging spine disorders and their treatment. Alphatec Spine is working with the National Osteoporosis Foundation as well as other clinical portals that provide peer-reviewed content, to populate the Aging Spine Center. The interactive website will enable patients to review pertinent information about all the key disorders that affect the aging spine in an easy-to-understand format that includes videos, graphics and questions that should be asked of caregivers. Medical information will include published abstracts regarding the aging spine.
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Forward Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. Such statements are based on management’s current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements include, but are not limited to: Alphatec Spine’s ability to accelerate new product momentum, bring to market differentiated products and commercialize its product pipeline. Alphatec Spine cautions investors that there can be no assurance that actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including, but not limited to, the following: Alphatec Spine’s ability to meet its financial guidance, the growth rate of the spine market related to aging and elderly patients, uncertainty of success in developing new products or products currently in Alphatec Spine’s pipeline, including GLIF or the ARC system, and those products that are intended to treat disorders prevalent in aging patients, failure to achieve acceptance of Alphatec Spine’s products, including GLIF or the ARC system, by the surgeon community, failure to obtain FDA clearance or approval for new products, or unexpected or prolonged delays in the process, including without limitation GLIF or the ARC system, Alphatec Spine’s ability to develop and expand its business in the United States, Asia and Europe, continuation of favorable third party payor reimbursement for procedures performed using Alphatec Spine’s products, unanticipated expenses or liabilities or other adverse events affecting cash flow or Alphatec Spine’s ability to successfully control its costs or achieve profitability, uncertainty of additional funding, Alphatec Spine’s ability to compete with other competing products and with emerging new technologies, product liability exposure, patent infringement claims and claims related to Alphatec Spine’s intellectual property. Please refer to the risks detailed from time to time in Alphatec Spine’s SEC reports, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. Alphatec Spine disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.
CONTACT: Alphatec Spine, Inc. Michael O'Neill, Chief Financial Officer (760) 494-6746 email@example.com Westwicke Partners Lynn C. Pieper (415) 202-5678 firstname.lastname@example.org