ALPHATEC’S HOLE DEEPENS. WHAT’S NEXT? (Orthopedics This Week)
Conditions at Alphatec have, apparently, reached the stage where a press release regarding the quarterly results is not considered necessary.
Nor, for that matter, is a call with Wall Street analysts to review the quarter.
On May 6, 2016 Alphatec Spine filed the required 10-Q financial report with the Securities and Exchange Commission (SEC). Normally, that would prompt both a press release and a call with analysts and institutional investors.
Not this time.
While management appears to have gone radio silent, rank and file Alphatec employees are lighting up anonymous web-based message boards with blistering critiques and dire warnings.
Comments like this one are being repeated in one form or another: “Pros: great benefits, good products and excellent people who work here. Cons: sales down, morale not good, no cash flow, no hiring in early 2016, not very positive work environment. Used to be better when DK was here.”
DK refers to Dirk Kuyper, CEO at Alphatec from 2007 to 2012.
Reading the tea leaves, Alphatec may be vacillating between two potential circumstances:
Debt holders have replaced equity owners as the company’...
