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Quarterly Review

3Q13 Revenue: Alphatec Spine

$50.2MM, +11% (U.S. $33.7MM, +9%; ex-U.S. $16.5MM, +14%, Japan +21%)

  • U.S. hospital non-biologics implant revenue +23%
  • Biologics +15%, excluding PureGen
  • U.S. growth attributed to unit volume gains in core hospital business, increased surgeon uptake
  • Price pressures continue in mid-single-digits
  • Ex-U.S. growth supported by robust business in Japan, with “thriving underlying demand” in Asia, Europe, Latin America
  • Received >50 ex-U.S. registration approvals to date in 2013, expecting more in Brazil and China by early 2014
  • Japan revenue driven by ILLICO MIS and Novel interbody devices
  • Beta-launched Pegasus anterior cervical fusion device
  • Gaining traction with Solus lumbar interbody fusion device, NEXoss synthetic bone graft
  • Zodiac DVR Deformity System providing consistent growth in procedures and levels per procedure
  • Preparing to launch Bone’X low-cost synthetic graft and a line of low-cost allograft chips for deformity procedures
  • Performing field evaluation of autologous point-of-care system
  • Plans to restructure operations in France (Scient’x) in 2014, including discontinuation of commercial activities
  • Discontinuing PureGen stem cell product due to significant clinical trial costs/resources not a priority; decision unrelated to any safety issues, but rather to FDA’s final decision to classify as biologic vs. tissue
  • PureGen was generating ~$2MM/quarter
  • Expecting 2013 Phygen revenue close to $15MM