French spine company Vexim is planning to IPO on the NYSE Alternext next month. Vexim developed the SpineJack procedure for the treatment of vertebral compression fractures and plans to raise as much as EUR 15.9 million ($20.9 million) in the offering, according to reports from Bloomberg.
Vexim follows Globus Medical as the second spine company in a month to announce an upcoming IPO. Globus intends to raise up to $100 million in their offering. This IPO trend is an indication of renewed interest in the spine sector, which has flagged over the past couple of years with concerns over pricing and procedure volumes.