Zimmer Biomet Holdings to Present at INVESTIndiana Equity Conference

WARSAW, Ind., Sept. 1, 2016 /PRNewswire/ — Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global leader in musculoskeletal healthcare, announced that it will be participating in the INVESTIndiana Equity Conference at the Indianapolis Marriott Downtown on Thursday, September 15, 2016 at 1:10 p.m. Eastern Time.

A live webcast of the presentation can be accessed via Zimmer Biomet’s Investor Relations website athttp://investor.zimmerbiomet.com.

About Zimmer Biomet
Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer Biomet is a global leader in musculoskeletal healthcare. We design, manufacture and market orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants; and related surgical products.

We collaborate with healthcare professionals around the globe to advance the pace of innovation. Our products and solutions help treat patients suffering from disorders of, or injuries to, bones, joints or supporting soft tissues. Together with healthcare professionals, we help millions of people live better lives.

We have operations in more than 25 countries around the world and sell products in more than 100 countries. For more information, visit www.zimmerbiomet.com or follow Zimmer Biomet on Twitter at www.twitter.com/zimmerbiomet.

About INVESTIndiana
Since 2008, the INVESTIndiana Equity Conference has given professional investors and fund managers an opportunity to interact with leading Indiana public companies.  The event features CEOs, CFOs and corporate leaders discussing important trends and their strategies to grow their companies.

Logo – http://photos.prnewswire.com/prnh/20150624/225371LOGO

SOURCE Zimmer Biomet Holdings, Inc.

Related Links

http://www.zimmerbiomet.com

Stryker’s Endoscopy division acquires Ivy Sports Medicine

KALAMAZOO, Michigan, USA, Sept. 1, 2016 /PRNewswire/ — Stryker’s Endoscopy division announced today it has acquired Ivy Sports Medicine, LLC, whose portfolio is comprised of a comprehensive minimally invasive meniscal repair platform. The addition of Ivy Sports Medicine’s portfolio enables Stryker to provide customers with a complete meniscal platform to better serve their patients.

The portfolio includes the only FDA-approved collagen meniscus implant (CMI®) on the market, a reliable and innovative all-inside repair device, as well as an inside-out meniscal suturing platform.  Ivy’s history and sole focus on advancing the treatment of meniscal injuries is also highly complementary to Stryker’s current portfolio of visualization, resection, fluid management, and ACL reconstruction platforms.

“The acquisition of Ivy Sports Medicine strengthens our capabilities and fits strategically with our current portfolio. Ivy’s complete meniscal platform, coupled with their clinical history, will allow us to provide our customers with multiple solutions to address meniscal repair,” said Matt Moreau, Vice President and General Manager of Stryker’s Sports Medicine business.  “This is an area of sports medicine where there is continued opportunity to address unmet customer needs. The Ivy portfolio provides a unique platform for us to build upon as we seek to continue advancing the treatment of meniscal injuries.”

“Ivy Sports Medicine was formed to capitalize on the unmet opportunity in meniscal repair, which we view as one of the more attractive growth opportunities in all of orthopaedics,” said Robert Pangia, CEO of Ivy Sports Medicine. “Our products provide surgeons with a complete set of tools to treat a large spectrum of meniscal repairs. We are excited about the prospects of combining these products with Stryker’s distribution channels and complementary portfolio of sports medicine products.”

About Stryker

Stryker is one of the world’s leading medical technology companies and, together with our customers, we are driven to make healthcare better. The Company offers a diverse array of innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. Stryker is active in over 100 countries around the world. Please contact us for more information at www.stryker.com.

Media Contact
Jenny Braga, Senior Communications Manager
jenny.braga@stryker.com

Logo – http://photos.prnewswire.com/prnh/20140106/PH40722LOGO

SOURCE Stryker

Related Links

http://www.stryker.com

Alphatec Holdings Completes Sale of International Business to Globus Medical

CARLSBAD, Calif., Sept. 01, 2016 (GLOBE NEWSWIRE) — Alphatec Holdings, Inc. (Nasdaq: ATEC), the parent company of Alphatec Spine, Inc., a provider of spinal fusion technologies, today announced the completion of the previously announced sale of its international operations and distribution channel to Globus Medical (NYSE: GMED), a leading musculoskeletal implant manufacturer.

With the closing of the transaction, the Company is now focused solely on the U.S. market, which Alphatec believes constitutes nearly 65% of the world’s spinal fusion market.

Over the past several years, the Company has focused its R&D programs and invested in the development of a leading, robust suite of products that are available to surgeons in the U.S. today—including Arsenal™ Degenerative, Arsenal Deformity and Battalion™ Universal Interbody.  In addition, the Company has recently obtained U.S. clearance for its new XYcor® Expandable Spinal Spacer System, which the Company plans to launch later this year.  The Company also made significant progress through its initiative to outsource its manufacturing operations—reducing capital investment in equipment, partnering with valued suppliers to provide flexible capacity, while achieving unit level cost reductions and margin improvements. As a result, Alphatec believes it is now better positioned to compete more effectively in the marketplace, accelerate growth and continue to improve profitability.

“Today marks the beginning of a new chapter for Alphatec,” said Jim Corbett, President and Chief Executive Officer of Alphatec Spine. “I am excited about the long-term prospects for the company as we pursue the U.S. spinal market with the resources we need to support continued investment in the commercialization of our robust product line. We have the right products, an exceptional team and a newly streamlined balance sheet to support our growth across the country, and we look forward to executing on our vision.”

Terms of the Transaction

Globus acquired Alphatec’s international operations and distribution channel for a purchase price of $80 million in cash. Globus will also provide Alphatec a five-year senior secured credit facility of up to $30 million. In addition, Alphatec has entered into a supply agreement through which Alphatec will supply its products to Globus for up to five years.

New Capital Structure

With the closing of this transaction, Alphatec believes that it can now establish a new capital structure that appropriately reflects the capital needs of its U.S.-focused business and positions the company for achieving future profitability. As part of the closing, Alphatec implemented the following related to this new capital structure:

  • Drew down $25M of the $30M credit facility from Globus upon closing;
  • Paid off the existing Deerfield credit facility balance and retired the credit facility;
  • Reduced the MidCap Financial term loan to a $5M balance; and
  • Reduced the MidCap Financial revolver commitment to $22.5M.

With this, Alphatec expects to have paid down approximately $66 million of existing debt and debt-related expenses.

Concurrent with this transaction, Deerfield Management Company, L.P. has utilized its cashless exercise provision under its warrant agreements, converting its warrants to purchase up to 11.45 million shares of common stock to approximately 3.2 million shares on a pre-reverse split basis. This will constitute approximately 269 thousand shares on a post-reverse split basis.  As a reminder, on August 25, 2016 the Company completed a one-for-twelve reverse stock split.

“As a result of this transaction, we are able to improve Alphatec’s forward-looking balance sheet by reducing our overall debt while providing the liquidity and reserves needed to invest in commercializing our robust product portfolio,” said Mike O’Neill, Alphatec’s Chief Financial Officer.  “The new term loan from Globus, in conjunction with a planned revolving line of credit from MidCap Financial, provides the company with credit facilities of up to $57.5 million, which will offer sufficient liquidity and appropriate financing to successfully support Alphatec’s transition to a U.S. market based company.  Upon closing, we estimate our total debt drawn will be approximately $45 million. I would like to thank Deerfield who has been an excellent partner and we appreciate the support that they have provided to the company through the years. I am also pleased that MidCap will remain as a lender and provide funding for the company going forward. I want to thank them for their continued commitment and support to Alphatec.”

The Company expects that its stronger financial foundation coupled with its strong product portfolio will support future investments in its capital instrument base each year. These investments will be used to drive the commercial expansion of its new product lines, which are expected to contribute substantially to its planned growth profile. In addition, the Company has already made substantial headway towards its goal of reducing its operating expenses by $20 million. The Company expects this to continue for the remainder of 2016 and into 2017, translating to positive cash flow and profitability in the back half of 2017.

About Alphatec Spine

Alphatec Spine, Inc., a wholly owned subsidiary of Alphatec Holdings, Inc., is a global medical device company that designs, develops, manufactures 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. and internationally via a direct sales force and independent distributors.

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

About Globus Medical

Globus Medical, Inc. is a leading musculoskeletal implant company based in Audubon, PA. The company was founded in 2003 by an experienced team of professionals with a shared vision to create products that enable surgeons to promote healing in patients with musculoskeletal disorders. Additional information can be accessed at www.globusmedical.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.  The Company cautions you 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 the references to the Company’s ability to compete in the U.S. marketplace, accelerate growth and continue to improve profitability, continued investment in the commercialization of the U.S. product lines and in its capital instrument base, expected capital re-structuring and expected reductions in operating expenses and the timing and likelihood of cash flow and profitability. The important factors that could cause actual operating results to differ significantly from those expressed or implied by such forward-looking statements include, but are not limited to:  the Company’s ability to execute on its business plan and effectively compete in the U.S. marketplace; the Company not realizing the full economic benefit from the transaction, including as a result of indemnification claims under the definitive purchase agreement and the retention by the Company of certain liabilities associated with the international business; the Company’s ability to meet its obligations under the supply agreement and its credit facilities; the uncertainty of success in developing new products or commercializing products currently in the Company’s pipeline, including the products discussed in this press release; the Company’s ability to successfully reduce and control its costs, improve its margins and improve its profitability; claims related to the Company’s intellectual property; product liability exposure; and other risks detailed in the Company’s public periodic filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to revise or update this report to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement.

CONTACT: Investor/Media Contact:

Christine Zedelmayer

Investor Relations

Alphatec Spine, Inc.

(760) 494-6610

czedelmayer@alphatecspine.com

Source: Alphatec Holdings, Inc.

2017 Mercedes-AMG C63 Coupe Makes its Debut

Mercedes-AMG C 63 S Coupé (C 205) 2015; Exterieur: designo diamantweiß  bright, Night Paket exterior: designo diamond white bright, night package

Mercedes-AMG C 63 S Coupé (C 205) 2015; Exterieur: designo diamantweiß bright, Night Paket
exterior: designo diamond white bright, night package

This is some dummy copy. You’re not really supposed to read this dummy copy, it is just a place holder for people who need some type to visualize what the actual copy might look like if it were real content.

If you want to read, I might suggest a good book, perhaps Hemingway or Melville. That’s why they call it, the dummy copy. This, of course, is not the real copy for this entry. Rest assured, the words will expand the concept. With clarity. Conviction. And a little wit.

Mercedes-AMG C 63 S Coupé (C 205) 2015; Exterieur: designo diamantweiß  bright, Night Paket exterior: designo diamond white bright, night package

Mercedes-AMG C 63 S Coupé (C 205) 2015; Exterieur: designo diamantweiß bright, Night Paket
exterior: designo diamond white bright, night package

In today’s competitive market environment, the body copy of your entry must lead the reader through a series of disarmingly simple thoughts.

All your supporting arguments must be communicated with simplicity and charm. And in such a way that the reader will read on. (After all, that’s a reader’s job: to read, isn’t it?) And by the time your readers have reached this point in the finished copy, you will have convinced them that you not only respect their intelligence, but you also understand their needs as consumers.

Amsterdam on Foot: Where to Walk in the Dutch Capital

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This is some dummy copy. You’re not really supposed to read this dummy copy, it is just a place holder for people who need some type to visualize what the actual copy might look like if it were real content.

If you want to read, I might suggest a good book, perhaps Hemingway or Melville. That’s why they call it, the dummy copy. This, of course, is not the real copy for this entry. Rest assured, the words will expand the concept. With clarity. Conviction. And a little wit.

tumblr_nokjp3Im5K1tomxvuo3_1280

In today’s competitive market environment, the body copy of your entry must lead the reader through a series of disarmingly simple thoughts.

All your supporting arguments must be communicated with simplicity and charm. And in such a way that the reader will read on. (After all, that’s a reader’s job: to read, isn’t it?) And by the time your readers have reached this point in the finished copy, you will have convinced them that you not only respect their intelligence, but you also understand their needs as consumers.

tumblr_nokjp3Im5K1tomxvuo1_1280

As a result of which, your entry will repay your efforts. Take your sales; simply put, they will rise. Likewise your credibility. There’s every chance your competitors will wish they’d placed this entry, not you. While your customers will have probably forgotten that your competitors even exist. Which brings us, by a somewhat circuitous route, to another small point, but one which we feel should be raised.

Preparations for Preliminary Draw underway

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This is some dummy copy. You’re not really supposed to read this dummy copy, it is just a place holder for people who need some type to visualize what the actual copy might look like if it were real content.

If you want to read, I might suggest a good book, perhaps Hemingway or Melville. That’s why they call it, the dummy copy. This, of course, is not the real copy for this entry. Rest assured, the words will expand the concept. With clarity. Conviction. And a little wit.

In today’s competitive market environment, the body copy of your entry must lead the reader through a series of disarmingly simple thoughts.

All your supporting arguments must be communicated with simplicity and charm. And in such a way that the reader will read on. (After all, that’s a reader’s job: to read, isn’t it?) And by the time your readers have reached this point in the finished copy, you will have convinced them that you not only respect their intelligence, but you also understand their needs as consumers.

As a result of which, your entry will repay your efforts. Take your sales; simply put, they will rise. Likewise your credibility. There’s every chance your competitors will wish they’d placed this entry, not you. While your customers will have probably forgotten that your competitors even exist. Which brings us, by a somewhat circuitous route, to another small point, but one which we feel should be raised.

Long copy or short – You decide

As a marketer, you probably don’t even believe in body copy. Let alone long body copy. (Unless you have a long body yourself.) Well, truth is, who‘s to blame you? Fact is, too much long body copy is dotted with such indulgent little phrases like truth is, fact is, and who’s to blame you. Trust us: we guarantee, with a hand over our heart, that no such indulgent rubbish will appear in your entry. That’s why God gave us big blue pencils. So we can expunge every example of witted waffle.

For you, the skies will be blue, the birds will sing, and your copy will be crafted by a dedicated little man whose wife will be sitting at home, knitting, wondering why your entry demands more of her husband‘s time than it should.

But you will know why, won‘t you? You will have given her husband a chance to immortalize himself in print, writing some of the most persuasive prose on behalf of a truly enlightened purveyor of widgets. And so, while your dedicated reader, enslaved to each mellifluous paragraph, clutches his newspaper with increasing interest and intention to purchase, you can count all your increased profits and take pots of money to your bank. Sadly, this is not the real copy for this entry. But it could well be. All you have to do is look at the account executive sitting across your desk (the fellow with the lugubrious face and the calf-like eyes), and say ”Yes! Yes! Yes!“ And anything you want, body copy, dinners, women, will be yours. Couldn’t be fairer than that, could we?

Take a sneak peak inside Apple’s gorgeous new Chongqing Store

100708_Pudong_Hero_PR

This is some dummy copy. You’re not really supposed to read this dummy copy, it is just a place holder for people who need some type to visualize what the actual copy might look like if it were real content.

If you want to read, I might suggest a good book, perhaps Hemingway or Melville. That’s why they call it, the dummy copy. This, of course, is not the real copy for this entry. Rest assured, the words will expand the concept. With clarity. Conviction. And a little wit.

In today’s competitive market environment, the body copy of your entry must lead the reader through a series of disarmingly simple thoughts.

All your supporting arguments must be communicated with simplicity and charm. And in such a way that the reader will read on. (After all, that’s a reader’s job: to read, isn’t it?) And by the time your readers have reached this point in the finished copy, you will have convinced them that you not only respect their intelligence, but you also understand their needs as consumers.

As a result of which, your entry will repay your efforts. Take your sales; simply put, they will rise. Likewise your credibility. There’s every chance your competitors will wish they’d placed this entry, not you. While your customers will have probably forgotten that your competitors even exist. Which brings us, by a somewhat circuitous route, to another small point, but one which we feel should be raised.

Take a sneak peak inside Apple’s gorgeous new Chongqing Store

100708_Pudong_Hero_PR

This is some dummy copy. You’re not really supposed to read this dummy copy, it is just a place holder for people who need some type to visualize what the actual copy might look like if it were real content.

If you want to read, I might suggest a good book, perhaps Hemingway or Melville. That’s why they call it, the dummy copy. This, of course, is not the real copy for this entry. Rest assured, the words will expand the concept. With clarity. Conviction. And a little wit.

In today’s competitive market environment, the body copy of your entry must lead the reader through a series of disarmingly simple thoughts.

All your supporting arguments must be communicated with simplicity and charm. And in such a way that the reader will read on. (After all, that’s a reader’s job: to read, isn’t it?) And by the time your readers have reached this point in the finished copy, you will have convinced them that you not only respect their intelligence, but you also understand their needs as consumers.

As a result of which, your entry will repay your efforts. Take your sales; simply put, they will rise. Likewise your credibility. There’s every chance your competitors will wish they’d placed this entry, not you. While your customers will have probably forgotten that your competitors even exist. Which brings us, by a somewhat circuitous route, to another small point, but one which we feel should be raised.

Apple Reports Record Earnings and iPad Sales

Apple_IBM_Passenger-PRINT copy

This is some dummy copy. You’re not really supposed to read this dummy copy, it is just a place holder for people who need some type to visualize what the actual copy might look like if it were real content.

If you want to read, I might suggest a good book, perhaps Hemingway or Melville. That’s why they call it, the dummy copy. This, of course, is not the real copy for this entry. Rest assured, the words will expand the concept. With clarity. Conviction. And a little wit.

In today’s competitive market environment, the body copy of your entry must lead the reader through a series of disarmingly simple thoughts.

All your supporting arguments must be communicated with simplicity and charm. And in such a way that the reader will read on. (After all, that’s a reader’s job: to read, isn’t it?) And by the time your readers have reached this point in the finished copy, you will have convinced them that you not only respect their intelligence, but you also understand their needs as consumers.

As a result of which, your entry will repay your efforts. Take your sales; simply put, they will rise. Likewise your credibility. There’s every chance your competitors will wish they’d placed this entry, not you. While your customers will have probably forgotten that your competitors even exist. Which brings us, by a somewhat circuitous route, to another small point, but one which we feel should be raised.

Long copy or short – You decide

As a marketer, you probably don’t even believe in body copy. Let alone long body copy. (Unless you have a long body yourself.) Well, truth is, who‘s to blame you? Fact is, too much long body copy is dotted with such indulgent little phrases like truth is, fact is, and who’s to blame you. Trust us: we guarantee, with a hand over our heart, that no such indulgent rubbish will appear in your entry. That’s why God gave us big blue pencils. So we can expunge every example of witted waffle.

For you, the skies will be blue, the birds will sing, and your copy will be crafted by a dedicated little man whose wife will be sitting at home, knitting, wondering why your entry demands more of her husband‘s time than it should.

But you will know why, won‘t you? You will have given her husband a chance to immortalize himself in print, writing some of the most persuasive prose on behalf of a truly enlightened purveyor of widgets. And so, while your dedicated reader, enslaved to each mellifluous paragraph, clutches his newspaper with increasing interest and intention to purchase, you can count all your increased profits and take pots of money to your bank. Sadly, this is not the real copy for this entry. But it could well be. All you have to do is look at the account executive sitting across your desk (the fellow with the lugubrious face and the calf-like eyes), and say ”Yes! Yes! Yes!“ And anything you want, body copy, dinners, women, will be yours. Couldn’t be fairer than that, could we?

Apple Reports Record Earnings and iPad Sales

Apple_IBM_Passenger-PRINT copy

This is some dummy copy. You’re not really supposed to read this dummy copy, it is just a place holder for people who need some type to visualize what the actual copy might look like if it were real content.

If you want to read, I might suggest a good book, perhaps Hemingway or Melville. That’s why they call it, the dummy copy. This, of course, is not the real copy for this entry. Rest assured, the words will expand the concept. With clarity. Conviction. And a little wit.

In today’s competitive market environment, the body copy of your entry must lead the reader through a series of disarmingly simple thoughts.

All your supporting arguments must be communicated with simplicity and charm. And in such a way that the reader will read on. (After all, that’s a reader’s job: to read, isn’t it?) And by the time your readers have reached this point in the finished copy, you will have convinced them that you not only respect their intelligence, but you also understand their needs as consumers.

As a result of which, your entry will repay your efforts. Take your sales; simply put, they will rise. Likewise your credibility. There’s every chance your competitors will wish they’d placed this entry, not you. While your customers will have probably forgotten that your competitors even exist. Which brings us, by a somewhat circuitous route, to another small point, but one which we feel should be raised.

Long copy or short – You decide

As a marketer, you probably don’t even believe in body copy. Let alone long body copy. (Unless you have a long body yourself.) Well, truth is, who‘s to blame you? Fact is, too much long body copy is dotted with such indulgent little phrases like truth is, fact is, and who’s to blame you. Trust us: we guarantee, with a hand over our heart, that no such indulgent rubbish will appear in your entry. That’s why God gave us big blue pencils. So we can expunge every example of witted waffle.

For you, the skies will be blue, the birds will sing, and your copy will be crafted by a dedicated little man whose wife will be sitting at home, knitting, wondering why your entry demands more of her husband‘s time than it should.

But you will know why, won‘t you? You will have given her husband a chance to immortalize himself in print, writing some of the most persuasive prose on behalf of a truly enlightened purveyor of widgets. And so, while your dedicated reader, enslaved to each mellifluous paragraph, clutches his newspaper with increasing interest and intention to purchase, you can count all your increased profits and take pots of money to your bank. Sadly, this is not the real copy for this entry. But it could well be. All you have to do is look at the account executive sitting across your desk (the fellow with the lugubrious face and the calf-like eyes), and say ”Yes! Yes! Yes!“ And anything you want, body copy, dinners, women, will be yours. Couldn’t be fairer than that, could we?