Alphatec Holdings, Inc. (“ATEC” or the “Company”) (Nasdaq: ATEC), a
medical device company dedicated to revolutionizing the approach to
spine surgery, announced today the appointment of Eric Dasso as
Executive Vice President, Adjunctive Technologies. The
Company also announced the appointment of Wyatt Stanfield as Area
Vice President, Sales, West, and Timothy Day as Territory
Development Manager, Northeast, to further the development of
ATEC’s strategic sales channel.
“We continue to attract spine’s most prolific
talent, and I couldn’t be more excited to welcome these proven high
performers to the family,” said Pat Miles, Chairman and Chief
Executive Officer. “I have known Eric for nearly 20 years.
During that time, I watched him expertly oversee the launch of over
75 products, skillfully manage large-scale businesses and
demonstrate unrivaled market-building prowess. I have utmost
confidence that his know-how and focus will profoundly advance the
clinical impact of Alpha InformatiX, our highly differentiated
platform for advanced surgical technologies. I can’t wait to
partner with him to render spine’s new Organic Innovation Machine
even more formidable!”
Having successfully commercialized products and
procedural solutions that currently generate more than $1 billion
in annual revenue, Dasso brings a distinguished track record of
marketing and product development team leadership. He joins ATEC
following a seventeen-year tenure at NuVasive, Inc., where he most
recently was Vice President, Global Implant Systems, leading the
worldwide marketing and development effort for its portfolio of
implants. Prior to that role, Dasso served in various
positions of increasing responsibility.
Stanfield joins ATEC following 12 years of
escalating sales leadership responsibilities with Stryker Spine,
where he most recently served as Area Vice President of Sales,
West, overseeing ten states in the Western U.S. With a proven track
record of quota achievement, year-over-year growth, and the
development and retention of award-winning sales teams, Stanfield
specializes in building high-performance sales teams in both direct
and distribution-based models.
“I am thrilled to welcome Wyatt to the ATEC
sales leadership team,” said David Sponsel, Executive Vice
President, Sales. “Over the many years that we’ve
collaborated, he has proven to be a purpose-driven, inspirational
leader with extraordinary integrity. I am confident that his
expertise will contribute significantly to ATEC’s sales
transformation and growth in the West.”
Day joins ATEC following 12 years in spine sales
and sales leadership roles with NuVasive and Medtronic, Inc.
Most recently, he served as a Principal Distributor for NuVasive in
the Massachusetts and Rhode Island markets, a role he achieved
following numerous accolades, including highest global sales
performer in 2012. While honoring non-compete restrictions,
Day will be responsible for expanding ATEC’s sales presence in the
Northeast, then transition to an exclusive ATEC distributor.
Inducement Awards Granted
As an inducement to accepting employment with
the Company, and in accordance with applicable Nasdaq listing
requirements, the Compensation Committee of the Board of Directors
has approved aggregate grants to Messrs. Dasso, Stanfield and Day
of, collectively, 250,000 restricted stock units (RSUs) and options
to purchase 25,000 shares of the Company’s common stock
(“Options”). The grants to Messrs. Dasso, Stanfield and Day
are dated August 5, 2019; July 8, 2019; and April 2, 2019 — the
respective dates of their employment.
The RSUs will vest in equal annual installments
on each of the first four anniversaries of the respective dates of
employment. The Options, which have an exercise price
of $5.18 per share (based on the closing price of the
Company’s common stock on the effective date of the grant), will
vest 25 percent on the first anniversary of the grant and in equal
monthly installments of 1/36th of the balance of the Options,
provided the recipient remains continuously employed
by ATEC as of each vesting date. In addition, the RSUs
and Options will vest fully upon a change in control
of ATEC.
ATEC is providing this information in accordance
with Nasdaq Listing Rule 5635(c)(4).
About Alphatec Holdings,
Inc.
Alphatec Holdings, Inc., through its
wholly-owned subsidiaries, Alphatec Spine,
Inc. and SafeOp Surgical, Inc., is a medical device
company dedicated to revolutionizing the approach to spine surgery.
ATEC 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 markets its products in the U.S. via
independent sales agents and a direct sales force.
Additional information can be found
at www.atecspine.com.
Forward-Looking Statements
This press release contains "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 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. A list and description of these and other factors, risks
and uncertainties can be found in the Company's most recent annual
report, and any subsequent quarterly and current reports, filed
with the Securities and Exchange Commission. ATEC disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as the result of new information, future
events, or otherwise, unless required by law.
Investor/Media Contact:Tina JacobsenInvestor
Relations (760) 464-6790ir@atecspine.com
Company Contact:Jeff BlackChief Financial
OfficerAlphatec Holdings, Inc.ir@atecspine.com
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