Alphatec Gets $30 Million in Debt Financing

Bruce V. Bigelow12/10/08

Alphatec Holdings (NASDAQ: ATEC), the Carlsbad parent company of medical device maker Alphatec Spine, says it has secured a $30 million credit facility with Silicon Valley Bank and Oxford Finance. The debt consists of a $15 million loan and a $15 million line of credit for working capital. The company, which designs and makes products for the surgical treatment of spine disorders, said the debt financing will be used to pay off more about $13.75 million in existing debt and significantly increase Alphatec’s ability to borrow.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788