CARLSBAD, Calif., March 15, 2016 (GLOBE NEWSWIRE) -- Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a global provider of spinal fusion technologies, announced today financial results for the fourth quarter and full year ended December 31, 2015.
- Fourth quarter revenue of $47.0 million.
- Fourth quarter adjusted EBITDA of $5.2 million, 11.1% of revenue.
- Annual total revenue of $185.3 million.
- Full year adjusted EBITDA of $20.7 million, 11.2% of revenue.
- Continued improvement of U.S. business – up 7.6% sequentially from Q3 2015.
- Record revenue for international business – $70.7 million, up 16.9% in constant currency, and representing 38% of full year 2015 revenue.
Recent Positive Progress Made Towards Alphatec’s Corporate Strategic Objectives
Strategic Pillar #1: “Go-to-Market” Product Portfolio and R&D Pipeline
- Arsenal™ Degenerative system is in full launch in US and Japan, increasing degenerative product user base by 52%.
- Arsenal CBX™ full launch underway, further expanding the Arsenal spinal fusion platform offerings.
- Arsenal™ Deformity received 510k clearance and is ready for launch in Q1 2016.
- Battalion™ titanium-coated PEEK interbody fusion system is now in full launch.
- Neocore™ Osteoconductive Matrix, a synthetic scaffold for the regeneration of bone, is now in full launch.
Strategic Pillar #2: Transform Manufacturing and Distribution Operations
- Completed outsourcing of manufacturing to drive overall reduction in implant unit costs and capital expense.
- Completed pilot phase of partnership with UPS for outsourcing physical distribution of implant and instrument sets to enhance customer service and drive set utilization improvements. Expect outsourcing to be complete in Q3 2016.
Strategic Pillar #3: Expand Global Commercial Participation
- Made progress in commercial expansion in large U.S. metropolitan markets through new distributor relationships, direct selling representatives and new surgeon customers enabled by compelling new additions to product portfolio.
- Expanded into new international geographies, including establishing a new distribution partner in Australia in Q1 2016.
