A Medical Device Daily

Alphatec Holdings (Carlsbad, California), the parent company of Alphatec Spine, a medical device company that makes products for the surgical treatment of spine disorders, with a focus on treating conditions related to the aging spine, reported that it has completed a private placement of $10 million of shares of its common stock to one of its existing shareholders, HealthpointCapital Partners II (New York).

The price per share for the common stock was $2.54, which is the higher of the average closing share price for the company's common stock on the Nasdaq National Market for the four most recently completed trading days prior to the date the agreement was executed, and the closing share bid price for the company's common stock on the Nasdaq National Market on the date that the agreement was executed. Alphatec plans to use the net proceeds of the private placement for general working capital purposes. The net proceeds are expected to be about $9.9 million. Thomas Weisel Partners (San Francisco) acted as sole placement agent in connection with this transaction.

The shares of common stock sold in the offering have not yet been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the U.S. absent a registration statement or exemption from registration. The closing of this private placement is expected to occur on or about June 22, subject to customary closing conditions.

In other financing activity:

• BioMimetic Therapeutics (Franklin,Tennessee) reported that the Securities and Exchange Commission has declared effective the registration statement on Form S-3 filed by the company in connection with the rights offering previously announced by the company.

Accordingly, the company has launched the $17 million rights offering pursuant to which holders of its common stock, except with respect to shares of common stock held by the BioMimetic 401K plan, will be entitled to purchase additional shares of its common stock at a price of $8.50 per share. The company expects to use the proceeds for general corporate purposes, including funding additional product development and potential commercialization activities.

The company will distribute subscription rights, at no charge, to each record holder of its common stock as of April 21, 2009, the record date for the rights offering, except with respect to shares of common stock held by the BioMimetic 401K plan.

• David J. Brailer, MD, PhD, chairman of Health Evolution Partners (San Francisco) reported the firm's second investment in medical imaging services. The Health Evolution Partners Growth Fund, which invests in rapidly growing middle market heath care companies, invested in Optimal Reading Services Group (Homewood, Alabama), a provider of medical imaging optimization services for hospitals, imaging centers and radiology groups. The investment will enable Optimal to accelerate its expansion throughout the U.S. and to continue its innovation efforts in select international markets.