September 13, 2016
TOULOUSE, France–(BUSINESS WIRE)
VEXIM (Paris:ALVXM) (FR0011072602 – ALVXM / PEA‐PME), a medical device company specializing in the minimally invasive treatment of vertebral fractures, today announces the signing of a distribution agreement with Creatori Health for the distribution of its portfolio in South Africa.
The South African market, with its 53 million inhabitants, is a promising Spine trauma market with a potential of 20.000 vertebral fractures. This could lead to a market of €40 million, according to our estimates.
VEXIM’s portfolio already gained reimbursement from one of the leading medical health insurance in South Africa, which will benefit to the Creatori Health commercial team.
Creatori Health is a well-known medical device company established in South Africa since 2004 by the current MD, Dr. Jaco Van Der Walt. Supplying leading edge technology has been a core focus of the Company, and after 9 successful years namely in the Neurosurgery field, the company decided to expand its focus to Spine and Neurosurgery in 2014, streamlining the product portfolio to ensure the best possible servicing to their clients. SpineJack® is a natural extension of its current business and a great strategic fit.
“Creatori Health is looking forward to providing the South African medical industry with SpineJack® – a clinically sound device that is not only unique, but will definitely add value as a treatment option to both patients and surgeons. With the support of VEXIM, and the granted reimbursement from a leading funder for medical insurance, we feel positive about the contribution SpineJack® will bring to the medical industry in South Africa”, said Dr WJ Van Der Walt, CEO of Creatori Health.
“Thanks to our preparation activities in this market, and based on the strong clinical literature supporting SpineJack®, reimbursement has already been granted by one leading health insurer. That will for sure benefit to Creatori Health and allow for a fast penetration of the market”, said Vincent Gardès, CEO of VEXIM.
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 Capital1 and from BPI 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 62 employees, including its own sales teams in Europe and a network of international distributors.
VEXIM has been listed on Alternext Paris since May 2012. For further information, please visit www.vexim.com
SpineJack® 2, a revolutionary implant for treating Vertebral Fractures
The revolutionary aspect of the SpineJack® lies in its ability 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, enabling 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 fractures and all patient morphologies. SpineJack® technology benefits from the support of international scientific experts in the field of spinal surgery and worldwide patent protection through to 2029.
MasterflowTM 2, a high-performance orthopedic cement delivery system
The MasterflowTM is an innovative solution for mixing and injecting orthopedic cement that enhances the accuracy of the injection and optimizes the overall surgical procedure for treating vertebral compression fractures. The device provides a better control of the injection of biomaterials into the spine. A complement of the SpineJack®, the MasterflowTM stands out for being both easy to use and precise, particularly in its ability to stop the cement delivery instantly without inertia. The MasterflowTM contributes to reducing pain in patients. Its first sales were recorded in the U.S. in February 2015, and the system has also received the CE marking in February 2015, a mandatory conformity mark for products marketed in Europe.
Name : VEXIM
ISIN code : FR0011072602
Ticker : ALVXM
1 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.
2 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.