Alphatec Spine, Inc. Receives Japanese Regulatory Shonin Approval for Illico SE(TM) Posterior Fixation Percutaneous Screw System
Alphatec Holdings, Inc. (MM) (NASDAQ:ATEC)
Intraday Stock Chart
Today : Monday 18 July 2011
Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, with a focus on treating conditions related to the aging spine, today announces the Japanese launch of its Illico SE Posterior Fixation Percutaneous Screw System for minimally invasive surgery. The company recently received Shonin approval and will launch the system through its wholly owned subsidiary, Alphatec Pacific, and their respective distributors.
The Illico SE system was designed to be surgeon friendly and easily adaptable to a variety of surgical techniques. The Illico SE system provides three options for rod delivery, in-situ screw extender attachments, and innovative instrumentation for rod reduction and decompression/distraction.
It is estimated that by 2020, close to 50% of Japan's population will be over the age of 50 and this trend will continue to drive the need for better spinal implant and instrumentation technology. The Japanese spine market is estimated to be over $400 million US dollars, with a significant trend towards surgeons performing minimally invasive procedures.
"The launch of the Illico SE system, which has seen rapid adoption worldwide, will allow us to continue our aggressive growth in Japan as we drive to our goal of being in the top three from a revenue perspective in that market. Japan is the second-largest spine market globally, and Alphatec Pacific is well-positioned with a direct sales organization and strong product line. We have been particularly pleased with our ability to grow our market and consistently launch new technologies. We estimate our current market share at over 5% and to be number four in the market," said Dirk Kuyper, Alphatec Spine's President and CEO.
