Carlsbad, Calif.-based Alphatec made changes to its executive leadership team as well as updated its compliance status with Nasdaq's listing requirements.
Here are seven company highlights:
1. Alphatec's board of directors named Board Chairman Leslie H. Cross the interim CEO, effective Sept. 16. James Corbett resigned from his position as president and CEO on Sept. 12.
2. Mr. Cross previously served as Alphatec's CEO from 2012 to 2104.
3. Alphatec reported it will likely appoint a lead independent director since Mr. Cross will be serving as both the chairman of the board and CEO.
4. Alphatec also promoted COO Michael J. Plunkett to president and COO.
5. Craig Hunsaker will fill the new position of executive vice president of people and culture, overseeing the company's employee recruitment, development, engagement and corporate culture.
6. Alphatec also named Jeff Rydin to the role of special advisor to the board, commercial, in which he will consult the board on sales, marketing and revenue acceleration.
7. In addition to these leadership announcements, Alphatec reported it had regained compliance with Nasdaq's Listing Rule 5450(a)(1), allowing for continued listing on The NASDAQ Stock Market.
"With a robust product suite that is attractive to surgeons, an improved balance sheet and a singular focus on the U.S. market, Alphatec is now well-positioned to undertake the next stage of transformation — improving commercial execution and accelerating revenue growth," said Mr. Cross. "The leadership changes we are announcing today are designed to fast track this vision to reality."