ATEC Appoints Beth Altman to Board of Directors

Rhea-AI Summary

Alphatec Holdings, Inc. (ATEC) announced the appointment of Beth Altman as an independent director and Chair of the Audit Committee, effective August 12, 2021. Altman, previously Managing Partner at KPMG LLP San Diego, brings extensive expertise in life sciences and technology. The company also shared the resignation of Donald A. Williams from the Board, effective August 11, 2021. Pat Miles, Chairman and CEO, emphasized Altman's significance in ATEC's transformation into a leading spine company.

Positive

• Beth Altman's extensive experience in life sciences and technology could enhance ATEC's strategic direction and governance.
• Her role as Chair of the Audit Committee may improve oversight and financial accountability.

Negative

• The resignation of Donald A. Williams, a long-standing Board member, could create continuity concerns during a critical transformation phase.

CARLSBAD, Calif., July 26, 2021 (GLOBE NEWSWIRE) -- Alphatec Holdings, Inc. (Nasdaq: ATEC), a provider of innovative solutions dedicated to revolutionizing the approach to spine surgery, announced today that Beth Altman, former Managing Partner at KPMG LLP San Diego, has been appointed as an independent director to the ATEC Board of Directors ("Board") and as Chair of the Audit Committee of the Board, with both appointments to be effective as of August 12, 2021. The Company also announced the resignation of Donald A. Williams as an independent director and as Chair of the Audit Committee of the Board and member of its Finance Committee, with such resignations effective as of August 11, 2021.

An audit partner for over 26 years with KPMG US, and the former Managing Partner of the firm's 300-person San Diego office, Altman brings a wealth of life science, consumer markets and technology sector expertise and served as lead partner for many multinational public clients. Altman also serves on the board of Allscripts and CV Sciences and was previously on the board of the Corporate Directors Forum, a 501 (c)(6) nonprofit organization focused on helping Directors build more effective boards through continuous learning and peer networking.

“We are thrilled to welcome Beth to the ATEC Board,” said Pat Miles, Chairman and Chief Executive Officer. “Her breadth of business, accounting and finance insight and her passion for life science technologies will be essential as ATEC continues its evolution into a dominant spine company. We would also like to thank Don, one of ATEC’s longest-standing Board members, for his guidance and support throughout our ongoing business transformation.”

About ATEC

ATEC, through its wholly owned subsidiaries, Alphatec Spine, Inc., EOS imaging S.A. 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^TM is focused on developing new approaches that integrate seamlessly with the Company’s expanding AlphaInformatiX Platform to better inform surgery and more safely and reproducibly 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. Such statements are based on management's current expectations and the Company cautions investors that there can be no assurance that actual results will not differ materially from those projected or suggested in such statements. Forward-looking statements include, but are not limited to, references to the Company’s future growth and expansion. Important factors that could cause actual results to differ from those expressed or implied by such statements 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. 

Investor/Media Contact:
Tina Jacobsen, CFA
Investor Relations
(760) 494-6790
investorrelations@atecspine.com 

Company Contact:
J. Todd Koning
Chief Financial Officer
Alphatec Holdings, Inc.
investorrelations@atecspine.com 

FAQ

Who is Beth Altman and what role has she taken at ATEC?

Beth Altman has been appointed as an independent director and Chair of the Audit Committee at Alphatec Holdings, effective August 12, 2021.

What impact might Beth Altman's appointment have on ATEC?

Altman's extensive experience in life sciences and technology may help guide ATEC's strategic direction and enhance its governance.

Why did Donald A. Williams resign from the ATEC Board?

Donald A. Williams resigned from the ATEC Board effective August 11, 2021, but the reasons for his resignation were not disclosed.