Alphatec Spine Inc. (Carlsbad, CA) in mid September acquired all the assets of Cortek Inc. (Dedham, MA), a manufacturer of allografts and synthetic products for spinal interbody fusion. Alphatec, owned by private equity firm HealthpointCapital LLC (New York City), produces spinal implants..
Foster: Providing a one-stop shop.
"Cortek's allograft products have long been recognized for their ability to accelerate and improve lumbar and cervical repair," says John H. Foster, chairman and CEO of Alphatec. "The addition of these products to Alphatec's product lineup gives surgeons a one-stop shop for improving spinal fusion patient outcomes."
According to Alphatec, spinal machined allografts represent a $338 million subsegment of the $3.1 billion spine products market. Alphatec plans to grow the Cortek line through Alphatec's existing distribution and sales network.
Cortek was founded by James E. Nicholson, a seasoned entrepreneur who also served as Cortek's chairman. He has founded several medtech companies in the past, including Mitek Surgical and Innovasive Devices, both of which were later acquired by Johnson & Johnson's Ethicon division.