Alphatec Accelerates Organic Innovation Machine With Addition of Key Senior Leadership and Expansion of Market Development T...
September 27 2018 - 4:05PM
Alphatec Holdings, Inc. (“ATEC” or the “Company”) (Nasdaq: ATEC), a
provider of innovative spine surgery solutions with a mission to
improve patient lives through the relentless pursuit of superior
outcomes, today announced the appointment of Mark Ojeda as
Executive Vice President, Cervical and Biologics. The Company also
announced the additions of Darrell Wilson and Mason Zabel, who have
joined the Company as Territory Development Managers for the
central United States.
“The new ATEC continues to attract the best and
brightest in spine, and I am thrilled to welcome these outstanding
individuals to the family,” said Pat Miles, Chairman and Chief
Executive Officer. “I’m looking forward to working closely with
Mark again to bring profound innovation to a market that is ripe
for it. His proven expertise will elevate our sophistication in
cervical and biologics, two key segments of the market where ATEC
currently is underrepresented. He has unsurpassed business-building
know-how, a passion for developing surgeon partners to drive market
adoption, and a depth of experience with integrating multiple
technologies into highly differentiated procedural solutions. We
are clearly assembling the most accomplished, effective talent in
the industry, and with Mark’s addition, our cervical spine team is
second to none.”
As a recognized leader in the orthopedic/spine
industry, Ojeda brings a 25-year track record of successfully
leading marketing and product development teams and has
successfully commercialized cervical and biologics products and
procedural solutions that have collectively generated hundreds of
millions in revenue. He joins ATEC following a twelve-year
tenure at NuVasive, Inc., where he most recently was Vice President
of Cervicothoracic Systems, credited with leading the evolution of
the product portfolio and transforming the cervical product team.
In his previous role as NuVasive’s Vice President of Global
Integrated Products and Services, Ojeda was responsible for
integrating intraoperative monitoring and biologics technologies
across the lumbar and cervical business units. Prior to
joining NuVasive, he held various leadership roles at Smith &
Nephew and Medtronic Sofamor Danek.
Wilson joins ATEC following 15 years in sales
and sales management roles with Stryker Spine, where he was
consistently recognized for outstanding sales performance. Zabel
joins ATEC following more than 13 years in sales and sales
management positions at both DePuy Synthes and Stryker Spine, where
he helped to substantially grow the minimally invasive surgery
(MIS) division.
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. Ojeda, Wilson, and Zabel
of, collectively, 125,000 restricted stock units (RSUs) and
options to purchase 50,000 shares of the Company’s common
stock (“Options”). The grants to Messrs. Wilson and Zabel are
dated August 22, 2018, and the grants to Mr. Ojeda are dated
September 17, 2018 — the respective dates of employment of each new
employee.
The RSUs will vest in equal annual installments
on each of the first four anniversaries of the respective dates of
employment set forth above. The Options, which have an
exercise price of $3.85 and $3.34 per share (based
on the closing prices of the Company’s common stock on the
respective effective dates of the grants), will vest 25 percent on
the first anniversary of the grants and in equal monthly
installments of 1/36th of the balance of the Options, provided the
recipient remains continuously employed by ATEC as of
such vesting date. In addition, the RSUs and Options will fully
vest 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 that designs, develops, and markets technology for the
treatment of spinal disorders associated with disease and
degeneration, congenital deformities and trauma. The Company's
mission is to improve lives by providing innovative spine surgery
solutions through the relentless pursuit of superior outcomes. The
Company markets its products in the U.S. via independent sales
agents and a direct sales force.
Alphatec, Alphatec Spine, the Alphatec logo, and
SafeOp Surgical are trademarks or registered trademarks of Alphatec
Holdings, Inc., its affiliates and/or subsidiary companies. All
other marks are the property of their owners.
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.
Investor/Media Contact:Tina JacobsenInvestor
Relationstjacobsen@moreeffectiveir.com
Company Contact:Jeff BlackExecutive Vice
President and Chief Financial OfficerAlphatec Holdings,
Inc.ir@atecspine.com
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