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ATEC Announces Preliminary First Quarter 2021 Revenue Results and Provides Corporate Updates

Nachrichtenquelle: globenewswire
08.04.2021, 15:05  |  95   |   |   

First quarter 2021 U.S. revenue grows approximately 50% compared to last year

Full year 2021 U.S. revenue growth now expected to exceed 30%

Tender offer for EOS imaging cleared by French regulatory authority

J. Todd Koning appointed Chief Financial Officer

CARLSBAD, Calif., April 08, 2021 (GLOBE NEWSWIRE) -- Alphatec Holdings, Inc. (Nasdaq: ATEC), a provider of innovative solutions dedicated to revolutionizing the approach to spine surgery, announced today preliminary revenue results for the first quarter ended March 31, 2021. The Company confirmed that the Autorité des marchés financiers (AMF), France’s financial markets regulator, cleared ATEC’s public tender offer for EOS imaging S.A. (EOS), allowing the Company to commence purchase of EOS’ outstanding share capital and voting rights. The Company also announced the appointment of J. Todd Koning to the role of Chief Financial Officer. Mr. Koning succeeds Jeffrey Black, who has resigned as CFO, effective April 18, 2021, to pursue interests outside of spine, but will remain with the Company in a transition capacity through April 30, 2021.

Preliminary First Quarter 2021 Revenue

  Quarter Ended March 31, 2021
Preliminary
Total Revenue $43.7 million to $44.1 million
U.S. Revenue $43.3 million to $43.7 million

“Surgeon enthusiasm for the clinical sophistication we are demonstrating and our revitalized ATEC sales force continues to fuel strong revenue growth,” said Pat Miles, Chairman and Chief Executive Officer. “We are creating tremendous momentum with market-shaping procedures like PTP, and are enjoying expanded adoption across our increasingly comprehensive and distinctive portfolio. At ATEC, we know our business is in the operating room and our success is directly correlated to our ability to improve spine surgery. Focused execution against that commitment drove strong first quarter results and gives us confidence that 2021 U.S. revenue growth will exceed 30%. This marks a solid start to another exciting year as we continue to raise the standard in spine.”

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ATEC Announces Preliminary First Quarter 2021 Revenue Results and Provides Corporate Updates First quarter 2021 U.S. revenue grows approximately 50% compared to last year Full year 2021 U.S. revenue growth now expected to exceed 30% Tender offer for EOS imaging cleared by French regulatory authority J. Todd Koning appointed …

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