Alphatec Spine receives $30m funding from financial groups
This article was originally published in Clinica
Spinal surgery firm Alphatec has secured a $30m credit facility from Silicon Valley Bank and Oxford Finance Corporation. The Carlsbad, California-based firm said that the new funds would allow it to further its business operations in the aging spine market and the core spinal fusion market. Alphatec will also be looking to expand its US and European distribution network. The credit facility, which consists of a $15m term note and $15m in working capital, is due in April 2012.
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