Alphatec Spine recently celebrated its remarkable growth and recent IPO with a ribbon cutting ceremony at their headquarters in Carlsbad. The honors were performed by Ronald G. Hiscock, President and Chief Executive Officer.
"We have created a platform for innovation within the area of spinal surgery and built the infrastructure to support it in a profitable fashion over the long term," said Hiscock. "Because of Alphatec's unique on-site manufacturing capability, we are differentiated from our competitors, having the ability to collaborate with surgeons on a one-on-one basis to build customized products to meet their special needs. We offer the fastest turn around time on custom products for our surgeons than any other company in the industry."
Alphtaec's achievements include increasing surgeon utilization, broadening product line and strengthening sales channels which has resulted in a revenue increase of 133 percent. This brought the second quarter revenue tally, which ended June 30 of this year, to $19.4 million. The prior year's second quarter revenue was $8.3 million. The number of Alphatec employees has grown in one year from approximately 70 to 233.
Hiscock also commented that the Alphatec Spine headquarters will remain in the local area as the company continues to expand and provide more manufacturing, administrative and executive employment opportunities. Currently we have four facilities in Carlsbad and as early as this summer will complete the renovation of the Research and Design Center, which is housed in one of the four buildings.
Alphatec Spine has been in California since the company's launch in 1990 and has been located in Carlsbad since 2001. The company began as a trauma implant and orthopedics manufacturer, but is now focused on the design, development, customization, manufacturing and marketing of products for the surgical treatment of spine disorders.
They currently offer a broad range of spinal products and systems comprised of components such as spine screws, spinal spacers and plates and have plans to develop and acquire additional products that will advance the science of spine surgery to the next generation.
In the past year, industry veteran, Hiscock, led the company's evolution to becoming a spinal specialist, first by recruiting a highly motivated, experienced management team, and then assembling a Scientific Advisory Board of clinical experts.
This Board has five local and national representatives who advise the company on innovation. The company changed its name from Alphatec Manufacturing to Alphatec Spine to reflect its new role as a vertically-integrated spinal device company.
This past year, Alphatec acquired Cortek, Inc., a developer and distributor of allograft implants for spinal interbody fusion. Physicians can now select Alphatec to be their principal source for improving spinal fusion patient outcomes.
Marked by incredible growth in both revenues and personnel in the past year, Hiscock has stated, "we believe are proving to be one of the fastest growing spine companies in the world."
In June, Alphatec went public with an initial public offering of 9,300,000 million shares of common stock at a price of $9 per share. The common stock trades on the NASDAQ National Market under the symbol (ATEC). Alphatec celebrated this milestone by ringing the closing bell at the NASDAQ market in New York City on June 12.
Alphatec Spine attributes its success to the implementation of their "Surgeon's Culture." Alphatec forms collaborative partnerships with surgeons that remain integral to every step of Alphatec's product development process, from initial concept through design, engineering and manufacturing.
Alphatec measures their success by how well they meet the needs of the surgeon. In fact, the commitment to the physician is reflected in their Mission Statement which reads: To be a values-based leader in the spinal market by providing unmatched service to and taking scientific direction from the physician.
The corporate values which are the foundation of Alphatec's commitment to the physician are taken seriously by Alphatec employees. These values are upheld because the employees believe that success can only come from a respectful, service-oriented and challenging environment.
"We have created a platform for innovation within the area of spinal surgery and built the infrastructure to support it in a profitable fashion over the long term," said Hiscock. "Because of Alphatec's unique on-site manufacturing capability, we are differentiated from our competitors, having the ability to collaborate with surgeons on a one-on-one basis to build customized products to meet their special needs. We offer the fastest turn around time on custom products for our surgeons than any other company in the industry."
Alphtaec's achievements include increasing surgeon utilization, broadening product line and strengthening sales channels which has resulted in a revenue increase of 133 percent. This brought the second quarter revenue tally, which ended June 30 of this year, to $19.4 million. The prior year's second quarter revenue was $8.3 million. The number of Alphatec employees has grown in one year from approximately 70 to 233.
Hiscock also commented that the Alphatec Spine headquarters will remain in the local area as the company continues to expand and provide more manufacturing, administrative and executive employment opportunities. Currently we have four facilities in Carlsbad and as early as this summer will complete the renovation of the Research and Design Center, which is housed in one of the four buildings.
Alphatec Spine has been in California since the company's launch in 1990 and has been located in Carlsbad since 2001. The company began as a trauma implant and orthopedics manufacturer, but is now focused on the design, development, customization, manufacturing and marketing of products for the surgical treatment of spine disorders.
They currently offer a broad range of spinal products and systems comprised of components such as spine screws, spinal spacers and plates and have plans to develop and acquire additional products that will advance the science of spine surgery to the next generation.
In the past year, industry veteran, Hiscock, led the company's evolution to becoming a spinal specialist, first by recruiting a highly motivated, experienced management team, and then assembling a Scientific Advisory Board of clinical experts.
This Board has five local and national representatives who advise the company on innovation. The company changed its name from Alphatec Manufacturing to Alphatec Spine to reflect its new role as a vertically-integrated spinal device company.
This past year, Alphatec acquired Cortek, Inc., a developer and distributor of allograft implants for spinal interbody fusion. Physicians can now select Alphatec to be their principal source for improving spinal fusion patient outcomes.
Marked by incredible growth in both revenues and personnel in the past year, Hiscock has stated, "we believe are proving to be one of the fastest growing spine companies in the world."
In June, Alphatec went public with an initial public offering of 9,300,000 million shares of common stock at a price of $9 per share. The common stock trades on the NASDAQ National Market under the symbol (ATEC). Alphatec celebrated this milestone by ringing the closing bell at the NASDAQ market in New York City on June 12.
Alphatec Spine attributes its success to the implementation of their "Surgeon's Culture." Alphatec forms collaborative partnerships with surgeons that remain integral to every step of Alphatec's product development process, from initial concept through design, engineering and manufacturing.
Alphatec measures their success by how well they meet the needs of the surgeon. In fact, the commitment to the physician is reflected in their Mission Statement which reads: To be a values-based leader in the spinal market by providing unmatched service to and taking scientific direction from the physician.
The corporate values which are the foundation of Alphatec's commitment to the physician are taken seriously by Alphatec employees. These values are upheld because the employees believe that success can only come from a respectful, service-oriented and challenging environment.