Thu Oct 31 09:20:00 UTC 2024: ## BioPharma Credit Invests $35 Million in Spine Surgery Specialist Alphatec Holdings
**London, UK -** BioPharma Credit, a specialist healthcare lender, has announced a new investment of $35 million in a senior secured loan to Alphatec Holdings, Inc., a publicly traded medical device company focused on spine surgery. This investment is part of a $200 million loan tranche, with BioPharma Credit Investments V (Master) LP taking an additional $35 million tranche.
Alphatec, based in the US, boasts a current market capitalization of approximately $745 million (NASDAQ: ATEC). The company is known for its “Organic Innovation Machine™” which focuses on developing new approaches that integrate with its Alpha InformatiX Platform, aiming to improve surgical outcomes and achieve safer and more reproducible results in spine surgery. Alphatec’s vision is to become the leading provider in the spine surgery market.
The loan, which matures in January 2028, bears interest at 3-month SOFR plus 5.75% per annum subject to a 3.00% SOFR floor. BioPharma Credit also received a 1% fee on its $35 million investment at the signing of the assignment agreement.
This investment provides BioPharma Credit with exposure to the growing spine surgery market, further diversifying its portfolio. The company’s commitment to this investment demonstrates its confidence in Alphatec’s future growth potential and innovative technologies.
First Piper 