CARLSBAD, Calif., Oct. 22, 2012 (GLOBE NEWSWIRE) -- Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., announced today a conference call and live webcast, scheduled for today at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time, to provide a business update in advance of the Company's attendance at the upcoming NASS meeting to be held on October 24 th – 26 th, 2012 in Dallas, Texas. Conference call and webcast details for today are as follows:
Conference call: (ID# 48352833) - (877) 556-5251 for domestic callers and (720) 545-0036 for international callers. Live webcast: Alphatec Spine website at www.AlphatecSpine.com , Investor Relations section. The webcast will be recorded and will remain available on Alphatec Spine's website for at least 30 days.On today's conference call, the Company will provide an update on the following business topics:
- Third quarter 2012 revenue is approximately $46.8 million, or $47.8 million on a constant currency basis, compared to $47.6 million reported in the third quarter of 2011. Total U.S. revenue is $31.0 million, driven by continued strong contributions from the Company's Biologics business. International revenue is approximately $15.9 million, or $16.8 million on a constant currency basis, compared to $14.9 million reported in the third quarter of 2011, reflecting continued strong growth in Japan.
- The acquisition of certain assets of Phygen, LLC is nearing completion. The required number of Phygen's members have voted in favor of the transaction and both Phygen and Alphatec Spine have signed the Asset Purchase Agreement. Alphatec Spine anticipates closing the acquisition in the next few weeks.
The Alphatec Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3520Forward 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. 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. Forward looking statements include references to Alphatec Spine's third quarter 2012 revenue; and the closing of the Phygen, LLC acquisition. The words "believe," "will," "should," "expect," "intend," "estimate" and "anticipate," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. The important factors that could cause actual operating results to differ significantly from those expressed or implied by such forward-looking statements include, but are not limited to; the uncertainty of success in licensing or developing and commercializing new products or products currently in Alphatec Spine's pipeline; failure to achieve acceptance of Alphatec Spine's products by the surgeon community including Alphatec's Biologics products; failure to successfully implement streamlining activities to create anticipated operational savings; failure to successfully begin in-house manufacturing of certain products; failure to obtain FDA clearance or approval for new products, or unexpected or prolonged delays in the process; Alphatec Spine's ability to develop and expand its U.S. and/or global revenues, including international revenues, particularly in Japan; 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; failure to meet all financial obligations in the Cross Medical Settlement or its credit agreement; patent infringement claims and claims related to Alphatec Spine's intellectual property or products sold by Alphatec Spine. Please refer to the risks detailed from time to time in Alphatec Spine's SEC reports, including its Annual Report Form 10-K for the year ended December 31, 2011, filed on March 5, 2012 with the Securities and Exchange Commission, as well as other filings on Form 10-Q and periodic filings on Form 8-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: Investor/Media Contact: Mark Francois Senior Director, Investor Relations Alphatec Spine, Inc. (760) 494-6610 mfrancois@AlphatecSpine.com