This article is more than 5 years old. Information may no longer be current.
Globus Medical completes acquisition of Alphatec's international business
Click Here to Manage Email Alerts
Globus Medical Inc. announced it has completed the acquisition of the international operations and distribution channels of Alphatec Holdings Inc.
“We were able to close the transaction ahead of schedule thanks to the hard work and cooperation of both companies involved,” David Paul, chairman and chief executive officer, said in a company press release. “Strategically, this acquisition gives us the immediate access to Japan and increased presence and penetration in other key geographies, and significant scale, roughly doubling our international sales. In addition, we will be acquiring a talent pool of international sales professionals, as well as an extensive network of international distributors. We remain excited about the future growth potential of our international business as a result of this transaction.”
According to the release, Globus Medical will take over the existing international direct and distributor sales channels of Alphatec. Globus Medical will reportedly offer its products through Alphatec’s sales channels; however, during the transaction, it will continue to sell Alphatec products. The agreement between the companies also reportedly states Alphatec will supply Globus Medical with its products for up to 5 years.
Reference: