Alphatec Spine Announces Executive Leadership Changes
Mike Plunkett Promoted to Chief Operating Officer
CARLSBAD, Calif., Jan. 2, 2014 (GLOBE NEWSWIRE) -- Alphatec Holdings, Inc.
(Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a medical device
company that provides physician-inspired solutions for patients with spinal
disorders, today announced that Mike Plunkett will succeed Pat Ryan as Chief
Operating Officer. Mr. Ryan, who has led Alphatec Spine's global operations
since 2011, has announced his intention to resign from the company to pursue
Mr. Plunkett joined Alphatec Spine in 2012 as Vice President Operations, where
he was responsible for U.S. operations, including supply chain, production,
manufacturing engineering, facilities and information technology. In his new
role, Mr. Plunkett will have responsibility for global supply chain, clinical,
regulatory, quality and research and development, as well as continuing to
lead and deliver improvements in global operations. In addition, he will be
focused on delivering Alphatec's next-generation pedicle screw system to the
market and ensuring that there is a continuous flow of new products. Mr.
Plunkett brings over 30 years of proven results and experience leading complex
supply chain operations, manufacturing and program management, including
serving over 24 years in the U.S. Navy, retiring with the rank of Captain in
2003."During the last eighteen months Mike has been responsible for driving
many improvements in our U.S. operations, including driving Lean Enterprise
throughout the supply chain and manufacturing functions," said Les Cross,
Chairman and CEO. "Mike's appointment to this role demonstrates the bench
strength of our management team," continued Mr. Cross."We are placing a
proven and respected executive in a key position as we continue to pursue our
strategic objectives to deliver shareholder value and help improve the lives
of the patients we serve across the globe."
Mr.Plunkett will report to Mr. Cross and will begin transitioning into his
new role immediately.
Pat Ryan has announced his resignation, but will stay with the Company until
mid-January to transition his responsibilities.
Mr. Cross added, "Pat has delivered strong results during his time at the
Company and we are grateful for the many contributions he has made, including
building a team and a culture that have proven to be successful in our ongoing
Company operations.We wish him all the best in his future endeavors. I am
confident that Mike Plunkett will build further on the foundation Pat has
In addition, Mike O'Neill, Chief Financial Officer, will assume responsibility
for international commercial operations.
Mr. O'Neill joined the Company in 2010 and brings more than 30 years of
experience in international businesses, including over 20 years at Johnson &
Johnson."Mike possesses a deep understanding of our international markets and
customers, having dealt closely with the global commercial team over the last
three years, which made him a natural choice to lead our international
commercial operations," said Mr. Cross.
About Alphatec Spine
Alphatec Spine, Inc., a wholly owned subsidiary of Alphatec Holdings, Inc., is
a medical device company that designs, develops, manufactures and markets
physician-inspired products and solutions for the treatment of spinal
disorders associated with trauma, congenital deformities, disease and
degeneration. The Company's mission is to combine innovative surgical
solutions with world-class customer service to improve outcomes and patient
quality of life. The Company and its affiliates market products in the U.S.
and in over 50 countries internationally via a direct sales force and
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 launch
and commercial acceptance of Alphatec Spine's next generation pedicle screw
system, future flow of new products, the ability of each of Messrs. Plunkett
and O'Neill to be successful in their new responsibilities for the Company,
2013 revenue and adjusted EBITDA projections; the success of the Company's
initiatives to drive global sales growth, increase margins and increase
operating efficiencies. The words "believe," "will," "should," "expect,"
"intend," "estimate," "anticipate," and "approximately" and 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.
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,
2012, filed on March 4, 2013 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:
Alphatec Spine, Inc.
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