Alphatec Holdings Inc said its Novel Cervical Interbody implant was approved by U.S. health regulators.

The medical-technology company said the device is used in a procedure to treat a damaged disc in the cervical region.

The total interbody market in the United States is estimated to be valued at more than $930 million in 2008, with cervical interbody procedures accounting for about 49 percent of all procedures, the company said. Shares of Alphatec closed at $4.41.