July 11, 2017
TOULOUSE, France–(BUSINESS WIRE)–Regulatory News:
VEXIM (Paris:ALVXM) (FR0011072602 – ALVXM), a medical device company specializing in the minimally invasive treatment of vertebral fractures, today announces its consolidated sales results for the second quarter, as of June 30th, 2017.
“VEXIM sales performance in the second quarter is in line with our expectations. VEXIM is growing substantially in all regions in Europe and around the world. We expect a strong growth of our business in the second half of the year, meeting our business objectives and aiming at financial break-even for the year 2017“, said Vincent Gardès, CEO of VEXIM.
Continued growth in the second quarter 2017
Revenues in millions of euros (IFRS, as of June 30th)
|Quarterly sales||Half-year sales|
|Region||Q2 2017||Q2 2016||Variation (%)||H1 2017||H1 2016||Variation (%)|
€5.7 million in sales, VEXIM continues to expand in all geographies
In Europe, VEXIM’s business continues to grow substantially reaching €9.3 million in the first half of 2017, representing a 18% growth compared to the same period in 2016. Since 2016, sales have increased in all countries and are progressing according to plan.
Outside of Europe, where quarterly sales increased 50% over the same period last year, VEXIM continues to see growing interest in the SpineJack® technology. As previously announced, VEXIM is in the process of launching SpineJack® products in Brazil and anticipates a continued strong growth in sales in the second part of 2017.
Financial reporting schedule:
2017 half-year results: September 14th, 20172
About VEXIM, the innovative back microsurgery specialist
Based in Balma, near Toulouse (France), VEXIM is a medical device company created in February 2006. The Company has specialized in the creation and marketing of minimally invasive solutions for treating traumatic spinal pathologies. Benefitting from the financial support of it longstanding shareholder, Truffle Capital3, and from OSEO public subsidies, VEXIM has designed and developed the SpineJack®, a unique implant capable of repairing a fractured vertebra and restoring the balance of the spinal column. The company also developed the MasterflowTM, an innovative solution for mixing and injecting orthopedic cement that enhances the accuracy of the injection and optimizes the overall surgical procedure. The company counts 67 employees, including its own sales teams in Europe and a network of international distributors. VEXIM has been listed on Euronext Growth Paris since May 3rd 2012. For further information, please visit www.vexim.com
SpineJack®4, an innovative implant for treating Vertebral Compression Fractures
The SpineJack® is designed to restore a fractured vertebra to its original shape, restore the spinal column’s optimal anatomy and thus remove pain and enable the patient to recover their functional capabilities. Thanks to a specialized range of instruments, inserting the implants into the vertebra is carried out by minimally invasive surgery, guided by X-ray, in approximately 30 minutes, which is intended to enable the patient to be discharged shortly after surgery. The SpineJack® range consists of 3 titanium implants with 3 different diameters, thus covering 95% of vertebral compression fractures and all patient morphologies. SpineJack® technology benefits from the support of international scientific experts in the field of spine surgery and worldwide patent protection through to 2029.
Nom : VEXIM
Code ISIN : FR0011072602
Code mnémonique : ALVXM
1 Cf. segment reporting applied since VEXIM switched to IFRS consolidated financial statements.
2 Indicative date, subject to changes.
3 Founded in 2001 in Paris, Truffle Capital is a leading independent European private equity firm. It is dedicated to investing in and building technology leaders in the IT, life sciences and energy sectors. Truffle Capital manages €550m via FCPRs and FCPIs, the latter offering tax rebates (funds are blocked during 7 to 10 years). For further information, please visit www.truffle.fr and www.fcpi.fr.
4 This medical device is a regulated health product that, with regard to these regulations, bears the CE mark. Please refer to the Instructions for Use.