Alphatec deals international biz to Globus Medical for $80m

alphatec-globus-medical-7x4-700x400Alphatec (NSDQ:ATEC) said today it entered into an agreement with Globus Medical (NYSE:GMED) to sell its international operations and distribution channels for $80 million.

Alphatec said the deal includes a 5-year senior secured credit facility for up to $30 million from Globus Medical.

Alphatec said it plans to use portions of the cash offering to pay down its approximately $69 million of existing debt and debt-related costs. The Carlsbad, Calif.-based company said the funds, as well as a revolving line of credit from MidCap Financial will support its transition to a U.S. market based company.

By Fink Densford | MassDevice

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About Peter Coffaro 1094 Articles
A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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