Press release
Ecully, September 19, 2016
Creation of Spineway USA Inc., a subsidiary of Spineway
Signature of an important marketing agreement in the USA
Initial order of 2 M$
Spineway, specialist in implants and surgical instruments for treating spinal column disorders, has set up an American subsidiary Spineway USA Inc. and signed an agreement with a Californian company to market its Mont Blanc, Twin Peaks, Blue Mountain and Ayers Rocks ranges.
To boost deployment in the United States, French company Spineway set up a subsidiary, Spineway USA Inc., based in Florida. It will distribute all Group products in the USA and foster customer relations with distributors and surgeons using Spineway products.
Spineway Inc. recently booked an initial $2 million order from its US partner for delivery between the end of 2016 and early 2017, 50% of which was paid when the agreement was signed. These four product lines are the Group's core business. The implants will be delivered in sterile packs, fully compatible with American surgeons' requirements. FDA approvals enable Spineway to market sterile implants - a tremendous competitive advantage on the US market.
Spineway's strategic entry into the US and the size of this initial order are important first steps in meeting their objectives to quickly carve out a share of this huge market and finalize new agreements in the coming months.
SPINEWAY is eligible for the PEA PME (equity savings plan for SMEs)
More information can be found at www.spineway.com
Spineway designs, manufactures and markets innovative implants and surgical instruments for treating severe disorders of the spinal column.
Spineway has an international network of 50 independent distributors and more than 90% of its turnover comes from exports.
In 2011, Spineway received the OSEO Excellence award as well as the Deloitte Fast 50 award and is now eligible for tax efficient private investment through FCPIs (French unit trusts specializing in innovation). Rhône Alpes INPI Patent Innovation Award (2013) - Talent INPI award (2015).
ISIN: FR0011398874 - ALSPW
Contacts:
| Investor relations David Siegrist - Chief Financial Officer Tel: +33 (0)4 72 77 01 52 finance.dsg@spineway.com | Financial information Jérôme Gacoin / Solène Kennis Tel: +33 (0)1 75 77 54 68 skennis@aelium.fr |
