Alphatec Holdings Announces 19.4% Growth in U.S. Spine Market for Q1

Alphatec Holdings, the parent company of Alphatec Spine, which designs, develops, manufactures and markets products for the surgical treatment of spine disorders, announced its results for the quarter ended March 31, 2010, according to an Alphatec news release.

A consolidated revenue of $38.4 million was reported in the first quarter 2010, representing 25.6 percent growth over the first quarter 2009 and 5.0 percent sequential revenue growth over fourth quarter 2009. U.S. revenue was $28.4 million for the first quarter 2010, up 19.4 percent over first quarter 2009. European revenue was $3.9 million, up from $1.0 million in the first quarter 2009.

Adjusted EBITDA was $5.4 million in the first quarter 2010 compared to $1.4 million reported for the first quarter 2009, according to the report.

Other first quarter highlights included the company's acquisition of Scient'x SA and the approval of the company's OsseoScrew for use in the European Union.

"With the closing of the Scient'x acquisition and the completion of the equity follow-on offering, Alphatec Spine has become a leading pure-play spine company that is truly global, with scale to address the spine market in the U.S., Asia, Europe and Latin America," Dirk Kuyper, Alphatec Spine's president and CEO, said in the release. "We are particularly pleased with our ability to demonstrate operating leverage, as evidenced by adjusted EBITDA of more than $5.0 million reported in the first quarter of 2010. We look forward to leveraging our broad-based international distribution network to drive long-term growth and profitability."

Read the release on Alphatec's first quarter results.