2023-04-19 16:43:45 ET
- Alphatec ( NASDAQ: ATEC ) on Wednesday said it would buy a spine procedures-focused robotic system for $55M and announced preliminary Q1 revenue that was well above consensus.
- The company said it had acquired all assets related to the REMI Robotic Navigation System from Fusion Robotics, a privately held medical technology company.
- "The incorporation of REMI into ATEC’s procedural strategy will improve surgical predictability, reduce radiation exposure and enhance intra-operative precision," ATEC said in a statement .
- The company also said Q1 preliminary revenue rose 52% Y/Y to between $108M to $109.5M. The consensus revenue estimate is $101.59M.
- Additionally, ATEC raised its FY 2023 revenue guidance to $450M from $438M previously. The consensus revenue estimate is $438.8M.
- ATEC reaffirmed guidance of break-even adj. EBITDA in 2023 and break-even free cash flow in 2025.
For further details see:
Alphatec buys robotic system for $55M, posts prelim. Q1 revenue above consensus