NEW YORK, and CARLSBAD, Calif., March 18 /PRNewswire/ -- HealthpointCapital Partners, L.P. (“HealthpointCapital”) announced today the purchase of Alphatec Manufacturing, Inc. (“Alphatec” or “Company”). It produces and sells a rapidly growing line of spinal fusion products. Alphatec specializes in co-developing spinal implants and instruments with surgeons and is one of the highest growth companies in the space. Terms of the transaction were not disclosed.
“Spine is the largest and fastest growing element of the orthopedic device industry,” said John H. Foster, HealthpointCapital Chairman and CEO. “Capital is the single greatest constraint to growth among independent spine companies. This acquisition provides capital to accelerate Alphatec’s growth. Substantial funding will allow for expanded manufacturing capacity, inventories, infrastructure and staffing in all functions.” Mr. Foster added, “Physician relationships and service are at the foundation of Alphatec. This is the Company’s key to success.”
Mr. Foster has become the Chairman and CEO of Alphatec. Shunshiro “Roy” Yoshimi the founder remains involved in the Company. Messers Foster and Yoshimi comment that “the management team is strong and will be expanded to meet growth objectives.”
Alphatec Manufacturing, Inc.
The Company was founded in 1990 and built by Mr. Yoshimi. He is a life- long medical technology executive and entrepreneur. The metamorphosis of the business has been from contract medical device manufacturing to trauma products to large joint products and finally to spinal implants, which are now the primary focus of Alphatec. It is distinguished among independent spine companies because it manufactures, engineers and prototypes all its own products. There are no service gaps between engineering/prototyping and the physician. The Company has 100 employees and is located in Carlsbad, CA and Las Vegas, NV.
HealthpointCapital, LLC
The company was founded in 2002 by John H. Foster, a healthcare investor, executive and entrepreneur for 30 years. It is a values-driven, research- based merchant bank focused on the orthopedic industry. A free-standing research group supports private equity fund investments and corporate finance activities. The Firm’s purpose is to capitalize upon the unique investment opportunity in orthopedics due to demographics and explosive growth of technology and innovation.
Additional Information
CONTACT: Media, John McCormick of HealthpointCapital, 212-935-7780, jmccormick@HealthpointCapital.com
Web sites: http://www.alphatecmfg.com and http://www.HealthpointCapital.com
HealthpointCapital Partners, L.P.
CONTACT: John McCormick of HealthpointCapital, +1-212-935-7780,jmccormick@HealthpointCapital.com