24 Mar ATEC Announces Memphis Distribution Facility
Centralized distribution will ensure predictable surgical support as growth expands
CARLSBAD, Calif., March 23, 2021 (GLOBE NEWSWIRE) — Alphatec Holdings, Inc. (Nasdaq: ATEC), a provider of innovative solutions dedicated to revolutionizing the approach to spine surgery, announced today the intention to lease a 75,000 square foot facility in Memphis, Tennessee, which will house ATEC’s primary distribution operations.
The new facility, from which ATEC will distribute all high-volume, commercially launched products, will allow for more expedient access to the nearby distribution centers, and with extended hours of operation, will significantly enhance the flexibility and predictability of surgical support. ATEC’s headquarters in Carlsbad, California will continue to serve as the hub for development and shipment of alpha release products. ATEC expects to open the new distribution facility in July 2021, and to aggressively ramp up its Memphis operations over the ensuing years.
Pat Miles, Chairman and Chief Executive Officer, asserted, “Revolutionizing the approach to spine surgery also requires that we evolve the standard by which we serve our customers. We must remain predictable and efficient as we rapidly grow. This new distribution facility will not only enable us to better support surgeries with earlier deliveries and later shipping cutoffs, its central location will position us to more adeptly meet the expanding demand for ATEC solutions nationwide. We have already begun to assemble Memphis leadership with extensive know how and deep spine experience, and look forward to rapidly building a highly engaged, talented local team.”
“Memphis has long been a hub for introducing spinal and medical device innovations that have defined the state-of-art and improved patient care. This legacy continues as we welcome ATEC to one of the country’s largest medical device markets,” said Ted Townsend, Chief Economic Development Officer for the Greater Memphis Chamber. “The Greater Memphis Chamber is thankful to the executive team for their discernment and eventual selection of Memphis to house their U.S. expansion.”
“We are proud to welcome another California-based company to Tennessee and thank ATEC for selecting Memphis for its new distribution facility,” said Bob Rolfe, Commissioner of the Tennessee Department of Economic and Community Development. “The medical device and healthcare industry is booming in Tennessee, and since last year we have had more than 2,000 new jobs committed to this sector. ATEC is in good company with its decision to locate operations in Memphis.”
“I’m so excited to welcome ATEC to Memphis,” said Mayor Jim Strickland. “These are good, quality jobs with a strong company in an innovative industry. I’m looking forward to working with them as they make Memphis their new home.”
TVA Senior Vice President of Economic Development, John Bradley, stated, “TVA and Memphis Light Gas and Water congratulate ATEC on its decision to locate operations in Memphis. It’s always an exciting day when we can celebrate a company’s commitment to growth in the communities we serve. We are proud to partner with EDGE, Greater Memphis Chamber, City of Memphis, Shelby County and Tennessee Department of Economic and Community Development to help support companies, like ATEC’s business success in the Valley.”
About Alphatec Holdings, Inc.
Alphatec Holdings, Inc. (ATEC), 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 through clinical distinction. ATEC’s Organic Innovation Machine is focused on developing new approaches that integrate seamlessly with the SafeOp Neural InformatiX System to safely and reproducibly treat spine’s various pathologies and achieve the goals of spine surgery. ATEC’s vision is to become the Standard Bearer in Spine. For more information, visit us 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. The words “believe,” “will,” “should,” “expect,” “intend,” “estimate,” “look forward” and “anticipate,” variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. A further 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 a result of new information, future events, or otherwise, unless required by law.
Tina Jacobsen, CFA
Chief Financial Officer
SOURCE: Globe Newswire, 23rd March 2021