Winning 3D printing startup rings the NASDAQ bell

Posted On October 11, 2016 By OrthoSpineNews In Extremities, Financial /  

October 10, 2016 – by

TriFusion Devices, winners of the Rice Business Plan Competition (RBPC) and manufacturers of custom 3D printed prosthetic devices, rang the NASDAQ opening bell earlier today.

This morning in New York, Blake Teipel, TriFusion Devices’ CEO, joined Brad Burke from the Rice Alliance for Technology and Entrepreneurship to announce the opening of the tech focused stock exchange for the first day of the week. Commenting on the event the CEO said, “We are grateful for the support, guidance, and encouragement that we’ve received from the Texas A&M University and Rice University programs. The experience and coaching we have received as we’ve launched our venture have proven immensely valuable to our success.”

Texas based TriFusion Devices beat 41 rival companies to take the RBPC prize earlier this year in April. The young company aims to revolutionize “the health care and sports-equipment industries in powerful and profitable ways” by using 3D printing to create tailored solutions for “amputees and prosthetists”.

The Super Bowl of Business Plan Competitions

In the U.S. alone, approximately two million people manage with the loss of a limb: a group currently growing at a rate of 185,000 each year.

TriFusion Devices emerged as the 2016 RBPC winner after review by 275 judges and was awarded prizes and cash valued at approximately $400,000. The total prize pool for this year’s competition was reported at over $1.7 million.

 

READ THE REST HERE

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Novastep Enhances its Nexis® Headless Screws Portfolio

Posted On October 11, 2016 By OrthoSpineNews In Extremities /  

Orangeburg, New York, Oct. 07, 2016 (GLOBE NEWSWIRE) — Novastep, Inc., and its affiliates (“Novastep” or the “Company”), a global medical technologies company specializing in the foot and ankle, has further expanded its coverage of midfoot and rearfoot indications with the addition of a full range of Nexis® 5.0 and 7.0mm headless, cannulated compression screws.

The implants feature all of the hallmark design attributes inherent to the Company’s Nexis® brand, including helical thread flutes that are self-drilling, self-tapping and reverse-cutting; Torx drive recess interfaces for optimal force distribution and tapered, self-penetrating compression cones.  Loïc Girod, Novastep’s Vice President of Research and Development, noted that “The Nexis® system provides surgeons with a complete and versatile selection of sterile packaged, low-profile, cannulated screws that are designed to address a broad spectrum of midfoot and hindfoot pathologies.”

The system is likewise supported with a robust instrumentation platform that is neatly stored in a versatile, light-weight, space-saving tray to combine the Nexis® 5.0 and 7.0mm instruments with interchangeable Nexis® 4.0mm headless screw or Arcad 18/20/25mm nitinol compression clip instrument modules that serve to further enhance its versatility.  “Operating room efficiency and cost reduction are prime areas of focus for Novastep” said Joseph Larsen, DPM of ProHealthCare Foot & Ankle in New York; adding that “Novastep’s implant and cleanSTART® deployment technologies provide a systematized logistics platform that is easily customizable to fit virtually anyone’s needs and substantially reduces inventory requirements and sterile field volumes.”

All Novastep implants are packaged sterile in quickSTACK™ containers or quickTUBE™ nested cylinders, depending on the size and configuration of the product. The STACKS and TUBES are housed and organized in the cleanSTART® Implant Dispenser console, which may be uniquely tailored to address individual surgeon preferences.

Nexis® and other key elements of Novastep’s portfolio will be featured at the Desert Foot 2016 meeting on October 19–22 in Phoenix, AZ and the upcoming 2016 Global Foot and Ankle Symposium in New York City on December 2–3.

About Novastep

Novastep is a global medical device company specializing in the design, development and commercialization of advanced technologies that treat conditions affecting the foot and ankle. The Company is focused on optimizing clinical efficiencies, inventory management and healthcare economics by transforming the way foot and ankle products are deployed and utilized in the surgical environment. Novastep has allied itself with a strategic network of key international opinion leaders to deliver breakthrough technologies, innovative services and compelling medical education programs to the foot and ankle community. Novastep’s portfolio, services and distribution platforms are uniquely positioned to address foot and ankle trauma, deformity corrections and Charcot fracture management.

For further information concerning this announcement and/or Novastep, Inc., send all inquiries to info@novasteportho.com or call 877.287.0795.

Related Links

For general information visit:  novastep-us.com

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Spineology Interbody Devices Now FDA Approved with Allograft Bone

Posted On October 10, 2016 By OrthoSpineNews In Regulatory /  

October 10, 2016

MINNEAPOLIS & ST. PAUL, Minn.–(BUSINESS WIRE)–Spineology Inc. announced today that it has obtained FDA clearance for the use of allograft bone with its Rampart™ Interbody Fusion Devices.

“This approval and our recent partnership expansion with Musculoskeletal Transplant Foundation (MTF) provides us the ability to pair MTF allografts with the Rampart family of interbody devices,” says John Booth, CEO of Spineology. “In addition to reducing patient morbidity and enhancing surgical efficiency we expect this approval will provide Spineology with an excellent platform for delivery of our new Incite™ Cortical Fibers.”

Incite Cortical Fibers are a unique and versatile bone grafting solution. The fibers offer an osteoconductive and inductive matrix, excellent handling properties, in-situ expansion and placement options via a variety of delivery methods.

The Rampart Interbody fusion devices incorporate large graft windows to facilitate healing and a recently enhanced instrumentation system. Additionally, devices are now available sterile packed, eliminating the need for continual reprocessing, which reduces costs for our customers.

About Spineology Inc.

Spineology Inc. provides innovative, anatomy conserving spinal technologies for surgeons and their patients. Spineology surgical techniques conserve spinal bone, ligament and muscle tissue. Spineology is committed to increasing procedural efficiency, reducing surgical morbidity and accelerating patient recovery. Learn more at spineology.com.

Contacts

Spineology Inc.
John Booth, 651-256-8511
jbooth@spineology.com
or
Risdall Public Relations
Dave Folkens, 651-286-6713
dave@risdall.com

SPINEOLOGY INC.

Release Summary

Spineology Inc. received FDA approval for Musculoskeletal Transplant Foundation allografts with Rampart Interbody Fusion Devices, which facilitates healing time and reduces costs for patients.

Release Versions

Contacts

Spineology Inc.
John Booth, 651-256-8511
jbooth@spineology.com
or
Risdall Public Relations
Dave Folkens, 651-286-6713
dave@risdall.com

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EOS imaging Announces the Opening of a New EOS Installation at the Prestigious Charité Hospital in Berlin

Posted On October 10, 2016 By OrthoSpineNews In Extremities /  

October 10, 2016

PARIS–(BUSINESS WIRE)–EOS imaging (Paris:EOSI) (Euronext, FR0011191766 – EOSI), the pioneer in 2D/3D orthopedic medical imaging, announced today that the hospital Charité – Universitätsmedizin Berlin in Germany has started to provide patient exams with its new EOS® imaging system. Charité is a leading hospital in Germany with 17 different Charité Centers in the Berlin area.

Established over 300 years ago, Charité is one of the largest university hospitals in Europe. It employs 13,200 employees and handles 142,000 inpatient and 663,000 outpatient cases every year. A leading research institution, Charité lays claim to more than half of all German Nobel Prize winners in Physiology or Medicine.

Professor Dr. Carsten Perka, Medical Director of the Center for Musculoskeletal Surgery at Charité, commented, “The newly-acquired EOS system provides very accurate 3D imaging data for treatment planning. Of particular importance is that the EOS system provides a full-body exam in a functional position while conventional imaging examination positions are often unsuitable for evaluating the musculoskeletal system.”

Marie Meynadier, CEO of EOS imaging, said, “Charité is an internationally-recognized institution with a history of providing excellent care. The EOS installation there, adding to earlier installations in key private centers of the country, speaks to the growing recognition in Germany of our technology.”

For more information, please visit www.eos-imaging.com.

EOS imaging has been chosen to be included in the new EnterNext© PEA-PME 150 index, composed of 150 French companies and listed on Euronext and Alternext markets in Paris.

EOS imaging is listed on Compartment C of Euronext Paris
ISIN: FR0011191766 – Ticker: EOSI

About EOS imaging

EOS imaging designs, develops, and markets EOS®, an innovative medical imaging system dedicated to osteoarticular pathologies and orthopedics, as well as associated solutions. The Company is authorized to market in 51 countries, including the United States, Japan, China, and the European Union. The Group posted 2015 revenues of €21.8 million and employs 122 people. The Group is based in Paris and has five subsidiaries in Besançon (France), Cambridge (Massachusetts), Montreal (Canada), Frankfurt (Germany) and Singapore.

Contacts

EOS imaging
Anne Renevot
CFO
+33 (0)1 55 25 61 24
investors@eos-imaging.com
or
NewCap
Financial communication and investor relations
Valentine Brouchot
+33 (0)1 44 71 94 96
eosimaging@newcap.eu
or
The Ruth Group (US)
Press relations / Joanna Zimmerman
646-536-7006
jzimmerman@theruthgroup.com

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NFL players get back in the game after upper spine surgery

Posted On October 10, 2016 By OrthoSpineNews In Spine /  

October 4, 2016 – Wolters Kluwer Health: Lippincott Williams and Wilkins

The majority of U.S. National Football League (NFL) players who undergo surgery for a herniated disc in the upper (cervical) spine are able to resume their careers and perform at a high level, suggests a study in Spine, published by Wolters Kluwer.

Even players with “upper-level” cervical disc herniation (CDH) have a high return rate and can return to play with similar performance outcomes compared to their “lower-level” counterparts, according to the analysis by Dr. Harry T. Mai of the Department of Orthopaedic surgery at the Northwestern Feinberg School of Medicine, Chicago, and colleagues. The results may help guide decisions about surgery and the likelihood of returning to competition for players with these career-threatening injuries.

Good Chance of Continuing NFL Career after CDH Surgery

The researchers identified 53 NFL players who underwent surgery for a herniated disc in the cervical spine between 1979 and 2013. Forty players had confirmed data on the level of the disc injury: 15 had “upper level” CDH (involving the uppermost vertebrae of the neck) while 25 had “lower level” injuries. Forty-five percent of the players were defensive backs and linebackers.

Rates of successful return to play after CDH surgery were analyzed. Most players — 67 percent of those with upper-level CDH and 72 percent with lower-level injuries — were able to return to play after surgery and rehabilitation, with no significant differences between the two groups. In both groups, recovery time was about nine months. On average, players continued playing for about 44 games and three years after CDH surgery.

To get an idea of how well each athlete played after returning from surgery, the researchers used a “Performance Score” based on NFL game statistics. Scores were not significantly different between groups, suggesting that athletes with upper-level CDH performed as well as those with lower-level injuries.

In 34 players, surgery consisted of spinal fusion (a procedure called anterior cervical discectomy and fusion, or ACDF). Four players developed degenerative disease at an adjacent vertebral level, requiring additional surgery. While this is a serious complication, it appeared to be no more frequent than in non-athletes undergoing ACDF.

The other six players underwent a less invasive procedure called foraminotomy which attempts to take pressure off the spinal nerves by decompression. Half of these patients later required additional ACDF surgery — a higher rate than observed in non-athletes. “It is possible that the rigors and activity required by a professional athlete, specifically axial collision forces, make them poor candidates for a non-fusion procedure,” Dr. Mai comments.

Cervical disc herniation is common among NFL and other elite athletes in contact sports and appears to be more common in upper level discs than the general population. While CDH also occurs in non-athletes, it is typically diagnosed in middle age and usually is not related to traumatic injury. For football players, the expected outcomes after CDH surgery — including the player’s ability to continue to compete at a high level — are unclear. That’s especially true for patients with upper-level CDH injuries.

The results suggest that most NFL players who undergo cervical spinal surgeries for CDH are able to resume their careers. Return to play, and level of performance after returning to competition, appear similar for players with upper-level versus lower-level cervical injuries. The authors note some important limitations of the study data, including potential “selection bias toward more prominent athletes.”

Gaining a better understanding of cervical spine injuries in elite athletes may help in developing better-tailored treatment approaches for this unique group of patients, Dr. Mai and colleagues believe. They conclude, “Further study is required to help surgeons definitively determine the individualized course of treatment for an NFL player dependent on pathology, position, and patient wishes.”

Story Source:

Materials provided by Wolters Kluwer Health: Lippincott Williams and Wilkins. Note: Content may be edited for style and length.

Journal Reference:

  1. Harry T. Mai, Robert J. Burgmeier, Sean M. Mitchell, Andrew C. Hecht, Joseph C. Maroon, Gordon W. Nuber, Wellington K. Hsu. Does the Level of Cervical Disc Herniation Surgery Affect Performance-Based Outcomes in National Football League Athletes? SPINE, 2016; 1 DOI:10.1097/BRS.0000000000001868

  2. Cite This Page:

    Wolters Kluwer Health: Lippincott Williams and Wilkins. “NFL players get back in the game after upper spine surgery.” ScienceDaily. ScienceDaily, 4 October 2016. <www.sciencedaily.com/releases/2016/10/161004111655.htm>.
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Kessler Foundation receives Spinal Cord Injury Model System Grant from NIDILRR

Posted On October 10, 2016 By OrthoSpineNews In Financial /  

October 7, 2016 – Source: Kessler Foundation

Kessler Foundation has been awarded a Spinal Cord Injury Model System (SCIMS) grant valued at $2,300,000 over 5 years (2016-2021) from the National Institute on Disability, Independent Living, and Rehabilitation Research (NIDILRR). This federal grant, one of only 14 awarded to centers across the U.S. this year, continues funding for the Northern New Jersey SCI System (NNJSCIS).

A collaboration of Kessler Foundation, Kessler Institute for Rehabilitation, and University Hospital in Newark, the NNJSCIS has been supported by NIDILRR since 1990. Kessler is also a federally funded Traumatic Brain Injury Model System, and is one of only nine centers in the U.S. to hold both grants.

The SCIMS grants fund Model Systems across the nation that provide a multidisciplinary system of rehabilitative care specifically designed to meet the needs of individuals with SCI, encompassing acute care and extending through rehabilitation, reintegration to the community and the workplace, and aging with SCI.

“Research is the cornerstone of the SCIMS,” noted Trevor Dyson-Hudson, MD, director of SCI Research at Kessler Foundation. “Each model system enrolls newly injured patients and collects data that are contributed to the National SCIMS Statistical Center, the world’s largest and longest database for SCI research. This database helps us identify medical complications that occur after SCI and to focus our research efforts on what individuals need to live full and productive lives after their injury. Through the NNJSCIS, we have contributed to improved care for respiratory complications, for example, and we are continuing to study the effects of a medication combined with therapy that may help restore mobility.”

“The renewal of this grant has real implications for the community we serve,” said Steven Kirshblum, MD, of Kessler Institute for Rehabilitation, where he is medical director and director of SCI Services. “Each year, we treat more than 120 newly injured persons and more than 300 individuals with spinal cord dysfunction, and we provide followup care to more than 1500 persons with chronic spinal cord injury. In addition to current projects, this new grant will enable us to explore pharmacologic approaches to managing bladder dysfunction, a complication that adversely affects quality of life for many individuals living with SCI.”

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Mazor Robotics Receives First Pre-Launch Orders for Mazor X System; Reports Record System Purchase Orders During Third Quarter

Posted On October 10, 2016 By OrthoSpineNews In Robotics /  

October 10, 2016

CAESAREA, Israel–(BUSINESS WIRE)–Mazor Robotics Ltd. (TASE:MZOR; NASDAQGM:MZOR), a pioneer and a leader in the field of surgical guidance systems, today announced that it received purchase orders for 25 systems during the third quarter ended September 30, 2016 including pre-launch orders for the recently unveiled Mazor X, a transformative guidance platform for spine surgeries. The Mazor X will be commercially launched at the North American Spine Society (NASS) annual meeting in Boston, MA October 26-29.

“The market’s response to the Mazor X is exceptional, exceeding our early expectations,” commented Ori Hadomi, Chief Executive Officer. “Customers who first experience the Mazor X at our training centers are quickly realizing the increased benefits of the system and they have already placed pre-launch orders. Mazor’s expanded portfolio of products, which now includes both the Mazor X and Renaissance systems, is responsible for the record number of purchase orders we received in the third quarter. As we move into the fourth quarter, we expect to build our momentum in the market as the Mazor X is launched, maximize our presence at NASS and our strategic partnership with Medtronic continues to be implemented.”

The 25 system purchase orders during the quarter included:

  • Three Mazor X pre-orders that the Company expects to deliver to U.S. customers by the end of the 2017 first quarter.
  • Four Renaissance systems ordered by U.S. customers were delivered during Q3 2016.
  • Three Renaissance systems ordered by distribution partners in the International Market.
  • 15 Mazor X systems ordered by strategic partner Medtronic, four of which were delivered in the 2016 third quarter.

During the third quarter, Mazor delivered a previously ordered Renaissance system to a distribution partner in the international market.

As previously reported, the Company recently implemented a policy enabling new Renaissance system customers to exchange to the Mazor X following the launch. Therefore, revenue from system sales with exchange option will be deferred until the Mazor X orders are supplied or the exchange option expires. The Company expects total third quarter revenue, including system sales and recurring revenues, to be approximately $7.5 million.

Mazor Robotics ended the third quarter with an installed base of 131 Renaissance systems globally, including 79 in the U.S., the Company’s primary growth market. The Company currently intends to report its complete financial results for the third quarter ended September 30, 2016 in November and will issue a press release with the date, time and dial in and webcast details.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Any statements in this release about future expectations, plans or prospects for the Company, including without limitation, statements regarding the market’s response to Mazor X, the benefits of Mazor X, Mazor’s expectations about market momentum, the expected delivery of Mazor’s systems, expected revenue for the third quarter and other statements containing the words “believes,” “anticipates,” “plans,” “expects,” “will” and similar expressions are forward-looking statements. These statements are only predictions based on Mazor’s current expectations and projections about future events. There are important factors that could cause Mazor’s actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Those factors include, but are not limited to, the impact of general economic conditions, competitive products, product demand and market acceptance risks, reliance on key strategic alliances, fluctuations in operating results, and other factors indicated in Mazor’s filings with the Securities and Exchange Commission (SEC) including those discussed under the heading “Risk Factors” in Mazor’s annual report on Form 20-F filed with the SEC on May 2, 2016 and in subsequent filings with the SEC. For more details, refer to Mazor’s SEC filings. Mazor undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in our expectations, except as may be required by law.

About Mazor

Mazor Robotics (TASE: MZOR; NASDAQGM: MZOR) believes in healing through innovation by developing and introducing revolutionary technologies and products aimed at redefining the gold standard of quality care. Mazor Robotics Guidance Systems enable surgeons to conduct spine and brain procedures in a more accurate and secure manner. For more information, please visit www.MazorRobotics.com.

Contacts

Investors
Michael Polyviou, 212-850-6020
mpolyviou@evcgroup.com
or
Doug Sherk, 415-652-9100
dsherk@evcgroup.com

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Implanet Announces Q3 2016 Sales of €1.5 Million

Posted On October 10, 2016 By OrthoSpineNews In Financial /  

October 10, 2016

BORDEAUX, France & BOSTON–(BUSINESS WIRE)

IMPLANET (Paris:IMPL) (OTCQX:IMPZY) (Euronext: IMPL, FR0010458729, PEA-PME eligible; OTCQX: IMPZY), a medical technology company specializing in vertebral and knee-surgery implants, today announces its sales for the third quarter and first nine months to September 30, 2016.

Ludovic Lastennet, CEO of Implanet, says:

“This was the Company’s second most successful quarter in Spine activity. On the adult degenerative bone disorder segment, which is acyclic and has substantial potential given the large number of annual procedures, we generated growth of +145% over 3rd quarter 2015 and +140% over the first 9 months of the year. Furthermore, the JAZZ platform’s adoption by prominent surgeons and hospitals, both in France and in the United States, is continuing to increase, establishing Implanet as a leader in sublaminar technology in spine surgery.”

Sales (in € thousands – IFRS) 2016 2015 Change
1st quarter 1,988 1,599 +24%
2nd quarter 2,107 1,707 +23%
Spine (JAZZ) 848 790 +7%
Knee + Arthroscopy 633 903 -30%
Total 3rd quarter 1,481 1,693 -12%
Spine (JAZZ) 2,860 2,245 +27%
Knee + Arthroscopy 2,715 2,754 -1%
9-month 5,576 4,999 +12%

Implanet recorded total sales of €5,576 thousand over the 9 months of the year to September 30, 2016, up +12% (vs. €4,999 thousand), and recorded solid performances in its priority markets, with sales up +37% to €2,856 thousand in France and +53% to €1,550 thousand in the United States, in spite of a 4% slight decrease in JAZZ sales on this market.

Over the first 9 months of the year, Spine activity grew by +27%, with sales totaling €2,860 thousand (compared with €2,245 thousand last year).

As of September 30, 2016, Implanet had 116 surgeon users in its direct markets (vs. 72 as of September 30, 2015), 66 in the United States (vs. 36) and 51 in France (vs. 36).

Over the first 9 months to September 30, 2016, sales from Knee activity slipped 1% to €2,715 thousand (vs. €2,754 thousand), despite solid sales momentum in France where revenue increased by +43% to €1,930 thousand.

In Q3 2016, Implanet recorded sales of €1,481 thousand, down 12% (vs. €1,693 thousand), mainly due to the temporary postponement of knee implant deliveries (totaling €254 thousand) in Brazil due to the credit insurance ceiling having been reached in this country.

Spine activity saw sales increase to €848 thousand in the 3rd quarter of 2016 (vs. €790 thousand a year earlier). Over the quarter, Implanet sold 824 JAZZ units in France, 340 in the United States and 341 in the rest of the world, giving a total of 1,505 units and growth by volume of +22%.

IMPLANET will participate in the following scientific congresses and conferences in Q4-2016
NASS in Boston, October 26 to 28, 2016
SOFCOT in Paris, November 8 to 11, 2016

About IMPLANET
Founded in 2007, IMPLANET is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its flagship product, the JAZZ latest-generation implant, aims to treat spinal pathologies requiring vertebral fusion surgery. Protected by four families of international patents, JAZZ has obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States and the CE mark. IMPLANET employs 48 staff and recorded 2015 sales of €6.7 million. For further information, please visit www.implanet.com.

Based near Bordeaux in France, IMPLANET established a US subsidiary in Boston in 2013.
IMPLANET is listed on Compartment C of the Euronext™ regulated market in Paris.

Contacts

IMPLANET
Ludovic Lastennet, Tel. : +33 (0)5 57 99 55 55
CEO
investors@implanet.com
or
NewCap
Investor Relations
Florent Alba, Tel. : +33 (0)1 44 71 94 94
implanet@newcap.eu
or
NewCap
Media Relations
Nicolas Merigeau, Tel. : +33 (0)1 44 71 94 98
implanet@newcap.eu
or
AlphaBronze
US-Investor Relations
Pascal Nigen, Tel.: +1 917 385 21 60
implanet@alphabronze.net

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Alphatec Holdings Announces Company Updates

Posted On October 7, 2016 By OrthoSpineNews In Financial /  

CARLSBAD, Calif., Oct. 05, 2016 (GLOBE NEWSWIRE) — Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a provider of spinal fusion technologies, today announced changes to the Company’s executive leadership team, a reduction in the Company’s workforce and an inducement award granted to Craig Hunsaker, the Company’s newly appointed Executive Vice President, People & Culture.

Changes to the Executive Leadership Team and Reduction in Workforce

Michael O’Neill, Alphatec’s Chief Financial Officer and Treasurer, has resigned effective October 5, 2016.  Dennis Nelson, the Company’s Vice President of Finance and Corporate Controller, a position he has held since 2011, will serve as the interim principal financial and accounting officer for filings under the Securities Act of 1933 and the Securities Exchange Act of 1934, while the Company executes its search for a Chief Financial Officer.

In addition, today the Company reduced its workforce by approximately 20%.  This reduction in force is a significant part of a broader plan, which the Company has previously outlined, to reduce operating expenses by $20 million following the sale of its international business to Globus Medical and to more appropriately size the Company’s resources to better reflect the needs of a U.S.-focused organization.

“I would like to thank Mike for all of his contributions to Alphatec over the past six years,” said Leslie H. Cross, interim Chief Executive Officer of Alphatec Spine. “Today we have a stronger financial foundation — a much improved balance sheet and enhanced liquidity – that positions us to build to a high quality U.S.-focused business in the future.” Mr. Cross continued, “Dennis is a talented and experienced financial leader. Given his intimate knowledge of Alphatec and our financials, we are confident that Dennis will do an excellent job as we engage in our search for a CFO. We wish Mike all the best in his future endeavors.  I would also like to express my appreciation to each of the employees affected by today’s announcement for their dedication and many contributions to Alphatec over the years.”

Inducement Award Granted

The Company has granted restricted stock units (RSUs) and performance stock-based awards (PSAs) to Craig Hunsaker, Alphatec’s newly appointed Executive Vice President, People & Culture. These inducement awards were approved by the Compensation Committee of the Alphatec Board of Directors on October 4, 2016, with an effective date of October 5, 2016, and granted as an inducement material to Mr. Hunsaker entering into employment with Alphatec in accordance with NASDAQ Listing Rule 5635(c)(4) under Alphatec’s 2016 Employment Inducement Award Plan (the “Plan”).  The Plan was approved by Alphatec’s board of directors on October 4, 2016 and has a share reserve of 350,000 shares.

Effective October 5, 2016, Alphatec granted Mr. Hunsaker 173,322 RSUs and $750,000 (at target) of PSAs. The RSUs will vest in equal installments on each of the first three anniversaries of September 14, 2016, subject to Mr. Hunsaker’s continued service with Alphatec through the applicable vesting date. In addition, the RSUs will fully vest upon a change in control of Alphatec. The PSAs will vest in a dollar amount representing between 0% to 250% of the target value upon the earlier of September 14, 2019 or a change in control of Alphatec, subject to Mr. Hunsaker’s continued service with Alphatec through the applicable vesting date. The actual payout amount will be based on the Company’s market capitalization on the vesting date and the fair-market value of the Company’s common stock on such vesting date and will be paid in shares of Alphatec common stock.

Alphatec is providing this information in accordance with NASDAQ Listing Rule 5635(c)(4).

About Alphatec Spine

Alphatec Spine, Inc., a wholly owned subsidiary of Alphatec Holdings, Inc., is a medical device company that designs, develops and markets spinal fusion technology products and solutions for the treatment of spinal disorders associated with disease and degeneration, congenital deformities and trauma. The Company’s mission is to improve lives by delivering advancements in spinal fusion technologies. The Company and its affiliates market products in the U.S. via a direct sales force and independent distributors.

Additional information can be found at www.alphatecspine.com.

Forward 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 the Company’s: product development pipeline and product portfolio; ability to streamline its cost structure; ability to improve its balance sheet and liquidity; and ability to accelerate its revenue growth or grow its revenues at all.   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, 2015, filed on March 15, 2016 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:

Christine Zedelmayer

Investor Relations

Alphatec Spine, Inc.

(760) 494-6610

czedelmayer@alphatecspine.com

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Osiris Therapeutics Announces Appointment of Alberto Avendano, M.D. as Chief Medical Officer

Posted On October 7, 2016 By OrthoSpineNews In Biologics /  

COLUMBIA, Md., Oct. 06, 2016 (GLOBE NEWSWIRE) — Osiris Therapeutics, Inc. (NASDAQ:OSIR) today announced that it has appointed R. Alberto Avendano, M.D., as the Company’s Chief Medical Officer.

Dr. Avendano brings to Osiris his expertise in medical education and communication, academic and industry clinical research, pharmacovigilance and regulatory affairs.  In his role as Chief Medical Officer, Dr. Avendano will manage and oversee the continued growth of the Company’s Medical Affairs and Clinical Operations, act as the Company’s medical spokesperson, and participate in development of clinical programs for the Company’s products and technologies.

“Alberto brings a wealth of managerial and life sciences expertise to Osiris during an important time in our company’s growth,” said David A. Dresner, Interim CEO of Osiris.  “Alberto will bridge our research and development team to our marketing team, furthering our commitment to help patients both today and into the future, as we continue to launch innovative therapies into the regenerative medicine space.”

Dr. Avendano received his license to practice medicine almost 30 years ago.  From June 2013 until joining Osiris, Dr. Avendano served as the Medical Director for Indivior Inc. (previously Reckitt Benckisser Pharmaceuticals).  Prior to joining Indivior, Dr. Avendano served in a variety of medical director and research positions, most recently as Associate Medical Director at EMD Serono, Inc.

Osiris welcomes Dr. Avendano as the newest member of the team.

About Osiris Therapeutics

Osiris Therapeutics, Inc., based in Columbia, Maryland, is a world leader in researching, developing and marketing regenerative medicine products that improve health and lives of patients and lower overall healthcare costs. Having developed the world’s first approved stem cell drug, the company continues to advance its research and development in biotechnology by focusing on innovation in regenerative medicine – including bioengineering, stem cell research and viable tissue based products. Osiris has achieved commercial success with products in orthopaedics, sports medicine and wound care, including BIO4®, Cartiform®, Grafix® , TruSkinTM and StravixTM. Osiris, Grafix, and Cartiform are registered trademarks of Osiris Therapeutics, Inc.; TruSkin and Stravix are trademarks of Osiris Therapeutics, Inc. BIO4® is a trademark of Howmedica Osteonics Corp. More information can be found on the company’s website, www.Osiris.com. (OSIR-G).

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Words or phrases such as “anticipate,” “believe,” “continue,” “ongoing,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project” or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Examples of forward-looking statements may include, without limitation, statements regarding any of the following: the outcome of the NASDAQ listing qualification deficiency process, including the ability of the Company to successfully maintain its NASDAQ listing; the outcome of the restatements, including the materiality, significance, nature, subject matter, timing or quantitative effects of the Company’s restated financial statements; the timing of the transition to a new independent registered public accounting firm; the completion of the audit of the Company’s 2015 financial statements; and the timing of the filing of the Company’s 2015 Form 10-K, Q1 2016 Form 10-Q and Q2 2016 Form 10-Q. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Our actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors described in the section entitled “Risk Factors” in our Annual Report on Form 10-K and other Periodic Reports filed on Form 10-Q, with?the SEC. Accordingly, you should not unduly rely on these forward-looking statements. We undertake no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this press release or to reflect the occurrence of unanticipated events.

For additional information, please contact:

Diane Savoie

Osiris Therapeutics, Inc.

(443) 545-1834

 

OsirisPR@Osiris.com

Source: Osiris Therapeutics, Inc.

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