Alphatec Spine Completes Acquisition of Phygen
Alphatec Holdings, the parent company of Alphatec Spine, has announced it has closed its acquisition of certain assets of Phygen, according to a news release (pdf).
Phygen, headquartered in Irvine, Calif., designs, manufactures and distributes spinal surgery products.
"We are very pleased and excited to close this important transaction and bring these two companies together. It is truly a synergistic fit and a transformational event for both organizations," said Les Cross, chairman and CEO of Alphatec Spine, in the release. "As I promised when I became CEO earlier this year, Alphatec Spine is focused on becoming more market-driven and customer-focused in order to strengthen sales and profitability. We are taking steps to launch new products, enhance the productivity of our sales force and distribution network, and target more surgeon-customers. Simultaneously, we are supporting these activities with operational improvements designed to lower our cost structure. With this transaction, we believe we have significantly strengthened our capabilities to succeed with our strategy."
Alphatec Spine is headquartered in Carlsbad, Calif.
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