SpineGuard reports €1.7M revenue for 3Q 2016, and 9 months growth of 15%

Posted On October 12, 2016 By OrthoSpineNews In Financial /

October 12, 2016

PARIS & SAN FRANCISCO–(BUSINESS WIRE)–SpineGuard (FR0011464452 – ALSGD), an innovative company that designs, develops, and markets disposable medical devices intended to make spine surgery safer, announced today that its third quarter revenue grew to €1.7 million, a 2% increase compared with 3Q 2015.

Pierre Jérôme, CEO and co-founder of SpineGuard, said: “After six consecutive quarters of more than 20% growth in the US, sales growth slowed in the third quarter of 2016. Since the US FDA clearance of the PediGuard Threaded in June, the US team has been actively preparing the commercial launch of this breakthrough product scheduled for the NASS (North American Spine Society) congress at the end of October in Boston. Our sales managers and product specialists are already promoting this very promising new extension of SpineGuard’s DSG™ technology with agents, surgeons and hospital purchasing committees. We experienced similar situations in the past when launching the PediGuard Curved, the PediGuard Cannulated and the PediGuard XS. In the rest of world, the quarter growth was solid, mainly driven by Europe and the Middle East.”

€ thousands – IFRS

2016

2015

Variance

First Quarter

1 760

1 517

+16%

Second Quarter

1 873

1 452

+29%

Half-Year

3 633

2 970

+22%

Third Quarter

1 678

1 646

+2%

Year to Date 9 Months

5 311

4 616

+15%

Unaudited

Global revenue in the third quarter of 2016 increased 2% to €1,678k, compared with €1,646k in the third quarter of 2015. In the USA, the decrease was 3% both as reported and at constant exchange rate (cc), while the rest of the world increased 29%.

For the 9 months, global revenue increased 15% to €5,311k, compared with € 4,616k in the first nine months of 2015. The growth in the United States was 15% at both actual exchange rate and cc.

6,324 PediGuard units were sold in the first nine months of 2015 compared with 5,580 in the first nine months of 2015, including 3,581 in the United States, representing 57% of total units sold.

Next financial press release: 2016 full year revenue, January 5, 2017
SpineGuard will participate at Actionaria retail investor show on November 18 and 19 in Paris.

About SpineGuard®
Co-founded in 2009 in France and the USA by Pierre Jérôme and Stéphane Bette, SpineGuard’s mission is to make spine surgery safer by bringing real-time digital technology into the operating room. Its primary objective is to establish its proprietary DSG™ (Dynamic Surgical Guidance) technology as the global standard of surgical care, starting with safer screw placement in spine surgery and then in other surgeries. PediGuard®, the first device designed using DSG, was co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D., and Alain Vanquaethem, Biomedical Engineer. It is the world’s first and only handheld device capable of alerting surgeons to potential pedicular or vertebral breaches. Close to 50,000 surgical procedures have been performed worldwide with PediGuard. Numerous studies published in peer-reviewed medical and scientific journals have demonstrated the multiple benefits that PediGuard delivers to patients, surgical staff and hospitals. In 2015, SpineGuard started to expand the applications of DSG into pedicle screws through partnerships with innovative surgical companies in France and the US. SpineGuard has offices in San Francisco and Paris.

For further information, visit www.spineguard.com.

Disclaimer
The SpineGuard securities may not be offered or sold in the United States as they have not been and will not be registered under the Securities Act or any United States state securities laws, and SpineGuard does not intend to make a public offer of its securities in the United States. This is an announcement and not a prospectus, and the information contained herein does and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in the United States in which such offer, solicitation or sale would be unlawful prior to registration or exemption from registration.

Contacts

SpineGuard
Pierre Jérôme, +33 (0)1 45 18 45 19
Chief Executive Officer
p.jerome@spineguard.com
or
Manuel Lanfossi
Chief Financial Officer
m.lanfossi@spineguard.com
or
Europe / NewCap
Investor Relations & Financial Communication
Florent Alba / Pierre Laurent, +33 (0)1 44 71 94 94
spineguard@newcap.fr
or
US
Ronald Trahan Associates Inc.
Ronald Trahan, APR, +1-508-359-4005, x108

MiMedx Third Quarter 2016 Revenue Exceeds Upper End of Guidance

Posted On October 11, 2016 By OrthoSpineNews In Financial /

MARIETTA, Ga., Oct. 10, 2016 /PRNewswire/ — MiMedx Group, Inc. (NASDAQ: MDXG), the leading regenerative medicine company utilizing human amniotic tissue and patent-protected processes to develop and market advanced products and therapies for the Wound Care, Surgical, Orthopedic, Spine, Sports Medicine, Ophthalmic, and Dental sectors of healthcare, announced today its revenue for the third quarter of 2016.

Third Quarter 2016 Revenue Highlights:

Q3 2016 revenue of $64.4 Million is a 31% increase over Q3 2015 revenue
Q3 2016 revenue exceeds $64.0 Million upper end of guidance
Q3 2016 revenue beats analyst’s estimates of $63.1 Million
Revenue for the nine months ended 9/30/16 is a 29% increase over same 2015 period

The Company recorded record revenue for the 2016 third quarter of $64.4 million, a $15.4 million or 31% increase over 2015 third quarter revenue of $49.0 million. For the nine months ended September 30, 2016, the Company recorded record revenue of $175.1 million, a $39.7 million or 29% increase over revenue of $135.4 million recorded in the same period of 2015.

Parker H. “Pete” Petit, Chairman and CEO stated, “We are very pleased that we were able to exceed our third quarter revenue guidance. This makes 20 consecutive quarters of sequential revenue growth and 19 of 20 quarters of meeting or exceeding our revenue guidance. Our core advanced wound care revenues were led by our commercial accounts. With the launch of our two new product lines in the third quarter, AmnioFill™ and OrthoFlo Lyophilized, we are looking forward to very robust growth in the fourth quarter and beyond. Third quarter revenue is typically impacted by vacations, and we are pleased with our third quarter results in light of that fact. With many year-end deductibles being met during the fourth quarter, we anticipate that typical additive impact on our fourth quarter revenue.”

Bill Taylor, President and COO, related, “We had particularly strong growth in the commercial side of our wound care business, and our nationwide footprint in this market sector continues to rapidly expand. Our EpiFix® product line continues to have a significant impact on the broadening of the usage of advanced wound care products. We believe the market-moving effect of this flagship EpiFix product is due to its clinical and cost effectiveness. We have continued to make investments in our international activities over the last two years, and the results are beginning to develop with noteworthy activity arising in certain foreign markets. Our EpiFix and AmnioFix® dehydrated Human Amnion/Chorion Membrane (dHACM) products were highlighted at the recently completed World Union Wound Healing Societies (“WUWHS”) symposium. Overwhelming interest was expressed by leading international physicians regarding the clinical effectiveness of our EpiFix and AmnioFix allografts. We also showcased EpiCord™, our dehydrated human umbilical cord allograft, at the WUWHS, and it likewise received a tremendous amount of interest. The WUWHS is the most widely attended international symposium dedicated to wound healing.”

Petit added, “We have high expectations for our new OrthoFlo Lyophilized and AmnioFill product lines. Each new product line fills different needs in the wound care and surgical markets, and collectively, they bring much more diversity to our product lines. AmnioFill is being offered in multiple sizes to address physicians’ needs for a product to treat larger acute and chronic wounds encountered in the surgical setting. OrthoFlo is adding to our portfolio of regenerative medicine solutions that serve the Orthopedics and Sports Medicine sectors of healthcare.”

The Company announced today that it plans to release its results for the third quarter ended September 30, 2016, before the opening of the market on Thursday, October 27, 2016. The Company also announced that it will provide guidance for the fourth quarter of 2016 in that quarterly earnings release.

MiMedx will host a live broadcast of its third quarter conference call on Thursday, October 27, 2016 at 10:30 a.m. eastern time. A listen-only simulcast of the MiMedx conference call will be available online at the Company’s website at www.mimedx.com. A 30-day online replay will be available approximately one hour following the conclusion of the live broadcast. The replay can also be found on the Company’s website at www.mimedx.com.

About MiMedx

MiMedx® is an integrated developer, processor and marketer of patent protected and proprietary regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues and human skin and bone. “Innovations in Regenerative Biomaterials” is the framework behind our mission to give physicians products and tissues to help the body heal itself. The MiMedx allograft product families include our: dHACM family with AmnioFix®, EpiFix® and EpiBurn® brands; Amniotic Fluid family with OrthoFlo brand; Umbilical family with EpiCord™ and AmnioCord™ brands; Placental Collagen family with CollaFix™ and AmnioFill™ brands; Bone family with Physio® brand; and Skin family with AlloBurn™ brand. AmnioFix, EpiFix, and EpiBurn are our tissue technologies processed from human amniotic membrane; OrthoFlo is an amniotic fluid derived allograft; EpiCord™ and AmnioCord™ are derived from the umbilical cord; Physio is a unique bone grafting material comprised of 100% bone tissue with no added carrier; AlloBurn is a skin product derived from human skin designed for the treatment of burns; and CollaFix, our next brand we plan to commercialize, is our collagen fiber technology, developed with our patented cross-linking polymers, designed to mimic the natural composition, structure and mechanical properties of musculoskeletal tissues in order to augment their repair.

We process the human amniotic membrane utilizing our proprietary PURION® Process, to produce a safe and effective implant. MiMedx proprietary processing methodology employs aseptic processing techniques in addition to terminal sterilization. MiMedx is the leading supplier of amniotic tissue, having supplied over 700,000 allografts to date for application in the Wound Care, Burn, Surgical, Orthopedic, Spine, Sports Medicine, Ophthalmic and Dental sectors of healthcare.

Safe Harbor Statement

This press release includes statements that look forward in time or that express management’s beliefs, expectations or hopes. Such statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to the Company’s financial projections for the remainder of the year, Company looking forward to very robust growth in the fourth quarter and beyond, the Company’s belief that EpiFix’s impact on broadening usage of advanced wound care products is due to its clinical and cost effectiveness, the Company’s international efforts are beginning to show results in certain foreign markets, and the Company’s high expectations for OrthoFlo Lyophilized and AmnioFill. Among the risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements include that the Company’s revenue and earnings may not grow or may decline; the Company’s new products may not gain acceptance in the medical community as anticipated; the Company’s new products may not have the expected market impact; usage of advanced wound care products such as EpiFix may be impacted by changes in reimbursement or other issues that could decrease usage, regardless of clinical or cost effectiveness, or that may change the cost effectiveness of the products; international efforts to date may not translate into revenue in the future, and the risk factors detailed from time to time in the Company’s periodic Securities and Exchange Commission filings, including, without limitation, its 10-K filing for the fiscal year ended December 31, 2015 and its most recent 10Q filing. By making these forward-looking statements, the Company does not undertake to update them in any manner except as may be required by the Company’s disclosure obligations in filings it makes with the Securities and Exchange Commission under the federal securities laws.

SOURCE MiMedx Group, Inc.

Related Links

http://www.mimedx.com

TEPHA, Inc. Announces Buy-Out of its Royalty Obligation to Metabolix, Inc.

Posted On October 11, 2016 By OrthoSpineNews In Financial /

LEXINGTON, Mass., Oct. 11, 2016 /PRNewswire/ — TEPHA Inc, the pioneer developer of implantable medical devices based on a resorbable polymer known as poly4hydroxybutyrate (P4HB), announced today that the Company has completed a buy-out of its royalty obligation to its former licensor and parent company, Metabolix, Inc. Beginning in 2008, Tepha and its partners have commercialized implantable medical devices manufactured from P4HB in both the US and Europe. Tepha’s commercial partners include, C.R. Bard Inc., B Braun, Wright Medical Group NV, and Galatea Surgical, a wholly owned subsidiary of Tepha focused on the Aesthetic Plastic Surgery market.

Andrew Joiner, President and CEO of Tepha, commented: “The buy-out of our royalty obligation in conjunction with Metabolix was financially advantageous for both companies. Specifically for Tepha, the cash flow from our savings will help finance the continued development of our core technology as well as pre-clinical and clinical testing of new applications.”

P4HB is a biologic polymer produced through a controlled fermentation process. Compared to medical devices based on other commercially available resorbable polymers, P4HB constructed devices have been shown to be less inflammatory, less acidic, more flexible, less brittle, and stronger with implanted strength retention that is compatible with the body’s natural healing process. Tepha currently offers a range of P4HB-based fibers, mesh and other constructs. Tepha is continuing to expand its P4HB technology platform to include collagen and antibiotic coatings, high strength multi-filament fiber, and non-woven materials, all targeting new market and partnering opportunities.

About Tepha: Tepha Inc, founded in 1998 and headquartered in Lexington, MA, is a supplier of medical devices focused on the BioMaterials market. Tepha’s products are designed and developed to elevate, support and reinforce areas of soft tissue weakness as well as to promote improved healing responses. To date Tepha and its partners have received 23 510(k) clearances for devices marketed in the US as well as five CE Marks for products sold in Europe. Commercial products based on Tepha’s resorbable P4HB polymer technology include: high tensile strength sutures for orthopedic soft tissue repair; mesh constructs for ventral and inguinal hernia repair; monofilament sutures for abdominal wall closure and plastic surgery; patches for tendon and ligament repairs; and mesh constructs for face and breast lifts. To date, products made from P4HB have been successfully used in more than 1,000,000 surgical procedures worldwide, and have been the subject of over 30 published clinical and scientific papers.

Contact:	John Hartnett
	Executive Vice President and Chief Operating Officer, Tepha Inc.
	781-357- 1772

	Andy Joiner
	President and Chief Executive Officer, Tepha Inc.
	781-357-1770

SOURCE TEPHA, Inc.

Related Links

http://www.tepha.com

State’s high court hears arguments in legal challenge to Medtronic-Covidien deal

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

By Joe Carlson Star Tribune – October 5, 2016

Medical device maker Medtronic moved its legal headquarters to Ireland last year in a controversial $50 billion deal that forced about 20 percent of the people who owned its stock to shell out thousands of dollars each to cover capital gains taxes.

Now some shareholders want the company to cover those costs. First they will have to convince the Minnesota Supreme Court to agree with them that state law does not — or should not — prevent them from being able to bring their lawsuit at all. If they win at the high court, the plaintiffs would still have to prevail in a future trial or get a settlement to see any money.

In oral arguments Wednesday morning at the Supreme Court, the attorney representing Medtronic said the two-year-old class-action lawsuit should never have gotten to the state’s highest court. That is because long-standing Minnesota business law gives boards of directors legal protections so they can run a company without being second-guessed by litigious shareholders.

“The question before you this morning is whether you will abandon the rule of law that has been effectively applied for decades, and embrace a rule of law … that is inconsistent with your most recent statements of public policy,” said Medtronic’s attorney, Eric Magnuson, who was chief justice from 2008 to 2010.

The aggrieved shareholders, however, argue that long-standing rule of law doesn’t address unique situations that can arise during corporate inversions like Medtronic’s.

An inversion happens when a U.S.-based company relocates its headquarters to a lower-tax jurisdiction through a corporate acquisition. In January 2015, Medtronic acquired health care supplier Covidien for $49.9 billion in cash and stock in a deal that put the combined company in Covidien’s old headquarters building in Dublin, Ireland. CEO Omar Ishrak continues to run the company from offices in Minnesota.

Medtronic’s board members knew the inversion would impose taxes on the minority of shareholders whose stock was not protected in a tax-deferred account like an IRA. The board members also knew Medtronic’s management strongly favored of the deal — so much so that the company agreed to cover $69 million in special excise taxes on company officers imposed by Congress to discourage inversions.

READ THE REST HERE

Winning 3D printing startup rings the NASDAQ bell

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

October 10, 2016 – by Michael Petch

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

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.”

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 3^rd 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
1^st quarter	1,988	1,599	+24%
2^nd quarter	2,107	1,707	+23%
Spine (JAZZ)	848	790	+7%
Knee + Arthroscopy	633	903	-30%
Total 3^rd 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 3^rd 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

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

Medicrea Announces 2016 Third-Quarter Sales

Posted On October 7, 2016 By OrthoSpineNews In Financial /

October 06, 2016

LYON, France & NEW YORK–(BUSINESS WIRE)–The Medicrea Group (Alternext Paris: FR0004178572 – ALMED), worldwide leader pioneering the development and manufacture of personalized analytical services and implant solutions for the treatment of complex spinal conditions, announced its sales for the 3rd quarter ending September 30, 2016.

€ millions	2015	2016	Δ
Half-year 1	13.8	14.8	+7	%
3rd quarter	7.1	6.8	-3	%
9-month total at September 30	20.9	21.6	+3	%
Movements in exchange rates had no significant impact on the evolution of turnover.

Sales reached a total of €6.8 million over the third quarter, down 3% compared to the same quarter of 2015, due to a temporary decrease in activity in Europe.

Year-to-date 2016, Medicrea sales have increased by 3% thanks to its priority markets, the United States (+9%) and France (+13%) where the adoption of UNiD™ patient-specific technology is continuing with more than 100 surgeons utilizing this service and the significant 1,000 UNiD™ surgery milestone anticipated within the next month.

Outlook:

Medicrea is currently participating in the Eurospine congress in Berlin from the 5^th to the 7^th of October and will be present at the world’s largest convention for spine specialists organized by the NASS (North American Spine Society) in Boston from the 26^th to the 29^th of October. During this event, the company is expected to announce a major development related to the UNiD™ services and personalized treatment modalities.

From early September, the Group has undertaken the relocation of production facilities and office headquarters to its new site near Lyon, gathering all the activities in a single infrastructure to improve productivity and optimize collaboration between the various support teams.

Next publication: 2016 annual sales published January 12, 2017, after market.

About Medicrea (www.medicrea.com)

Medicrea specializes in the design, manufacture, and distribution of innovative proprietary technologies devoted exclusively to spinal surgery. Operating in a $10 billion market, Medicrea operates with 150 employees, including 40 at its Medicrea USA Corp. subsidiary based in New York City.

Medicrea is the only company to offer personalized value-based healthcare solutions to the global complex spine market. The Company has driven innovation in Spine by focusing development on market-disrupting technologies focused on patient outcomes, including the growing UNiD™ Technology Platform of Patient-Specific Implants and Analytical Services, which received the first-ever FDA Clearance in November 2014 for a personalized spinal treatment modality.

Medicrea has uniquely positioned itself outside of the traditional implant manufacturer’s role in order to engage with each market player as a collaborator, offering customized implants to patients, personalized services to doctors and immediate cost-savings to providers. By leveraging its proprietary software analysis tools with big data technologies, Medicrea is well-placed to improve the efficacy of spinal care efficiency for all stakeholders in this market.

Connect with Medicrea:

FACEBOOK | INSTAGRAM | TWITTER | WEBSITE | YOUTUBE

Contacts

Medicrea
Denys Sournac, Founder, Chairman and CEO
+33 (0)4 72 01 87 87
dsournac@medicrea.com
or
Fabrice Kilfiger, Chief Financial Officer
+33 (0)4 72 01 87 87
fkilfiger@medicrea.com

Amedica Provides Business Update

Posted On October 6, 2016 By OrthoSpineNews In Financial, Regulatory /

SALT LAKE CITY, UT — (Marketwired) — 10/06/16 — Amedica Corporation (NASDAQ: AMDA), a biomaterial company that develops and commercializes silicon nitride for biomedical applications, today provided a business update related to its business strategy and certain recent developments.

Briefly, the updates relate to the following items:

New patent directed to a threaded design in ceramic implants;
Participation at the annual International Society for Technology in Arthroplasty; and
Update related to completion of the company’s strategic workforce reduction.

Amedica Awarded Key Patent Protection for Threaded Implant Design Feature
Amedica was recently awarded a patent by the United States Patent and Trademark Office for “threading sinterable materials,” such as silicon nitride and other ceramic materials. U.S. Patent No. 9,399,309, covers methods for threading ceramic materials used for spinal fusion implants, or other biomedical implants. Threading technology is broadly applicable in a wide range of current medical devices made from PEEK or titanium, and this patent is the first for ceramic materials. Amedica’s ability to manufacture threaded biomedical implants made of silicon nitride and other ceramic materials reflects nearly five years of pioneering work by its R&D and engineering teams.

Amedica has implemented this new technology across its portfolio of Valeo^® II spinal fusion devices. These fusion devices are made of micro-composite silicon nitride, which favors bone ingrowth and shows antibacterial properties, when compared to competitive PEEK and titanium implants. Valeo II silicon nitride interbody fusion devices are readily imaged on x-rays, CT, and MRI scans; a property unique to Amedica’s silicon nitride technology.

Amedica to Present Research Supporting Silicon Nitride at ISTA
Amedica announced that it will be presenting four papers at the International Society for Technology in Arthroplasty’s (ISTA) 29th Annual Congress occurring October 5-8, 2016 in Boston, Massachusetts. “These papers provide further evidence for the advantages of our proprietary silicon nitride composition in the spine, dental, and arthroplasty markets,” said Dr. Sonny Bal, Chairman and CEO of Amedica Corporation. “Our strength in manufacturing, research, and external collaborations is critical to creating long-term value, even as we reduce costs and address spine sales,” added Dr. Bal

Going Forward Following Strategic Reductions in Workforce
The company also confirmed that the previously-announced work force reduction has been completed, resulting in a leaner and more agile organization that is better positioned to extend its cash runway and execute on its strategic objectives.

Dr. B. Sonny Bal, chairman and chief executive officer of Amedica, stated, “despite the recent 38% reduction in force, the company continues to be in a strong position to timely and efficiently manufacture its silicon nitride products, further scientific research into the properties of our silicon nitride ceramic and how to enhance those properties, and to continue to support its external partnerships and product development opportunities.”

About Amedica Corporation

Amedica is focused on the development and application of interbody implants manufactured with medical-grade silicon nitride ceramic. Amedica markets spinal fusion products and is developing a new generation of wear- and corrosion-resistant implant components for hip and knee arthroplasty as well as dental applications. The Company’s products are manufactured in its ISO 13485 certified manufacturing facility and through its partnership with Kyocera, one of the world’s largest ceramic manufacturers. Amedica’s FDA-cleared and CE-marked spine products are currently marketed in the U.S. and select markets in Europe and South America through its distributor network and its growing OEM and private label partnerships.

For more information on Amedica or its silicon nitride material platform, please visit www.amedica.com.

Forward-Looking Statements

This press release contains statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated within this press release. A discussion of those risks and uncertainties can be found in Amedica’s Risk Factors disclosure in its Annual Report on Form 10-K, filed with the Securities and Exchange Commission (SEC) on March 23, 2016, and in Amedica’s other filings with the SEC. Amedica disclaims any obligation to update any forward-looking statements.

Contacts:
Kevin Ontiveros
801-839-3502
IR@amedica.com

Source: Amedica Corporation