Biomed Group
Long/short equity, healthcare, biotech

Alphatec Holdings: An Undervalued Spine Player With A Potential Growth Opportunity

In this article, we decided to evaluate Alphatec Holdings (NASDAQ:ATEC), a small-cap medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders. Alphatec has struggled over the past three years due to slowing U.S. spine market growth. However, the spine care market seems to be re-accelerating and will likely continue to stabilize in 2013, and improving operations, execution, and product flow should allow Alphatec to grow at above market rates and expand margins in the coming quarters.

Company Overview

Alphatec is a vertically integrated spinal device company headquartered in Carlsbad, California. Founded in 1990 as a contract medical device manufacturer, and was acquired in 2005 by the New York private...

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