1st half 2015: 30% growth of revenue
► Acceleration in the number of surgeries performed
► International momentum confirmed
Eragny-sur-Oise (France), July 15, 2015 – SAFE ORTHOPAEDICS (Euronext: FR0012452746 – SAFOR), a company developing and marketing an innovative range of sterile implants combined with their single-use surgical instruments, presents its business update for the period to June 30, 2015.
“The sharp rise in the number of surgeries in the second quarter of 2015 is a strong indicator of how our product has been adopted. We expect more robust revenue growth in the second half of the year, supported by distributors’ orders and sales of our new products, including the Auto-Adjust implant, which is due to be launched in the United States by the end of the year,” comments Yves Vignancour, Chief Executive Officer of Safe Orthopaedics.
Acceleration in the number of surgeries performed
The number of spinal surgeries using Safe Orthopaedics products reached a record of 592 in the second quarter of 2015. Over the first six months of the year, the total number of surgeries performed came to 1,143.
In comparison, 184 surgeries were performed in the second quarter of 2014 and 354 in the first half of 2014.
International momentum confirmed
Safe Orthopaedics continued to expand in the first half of 2015:
- United States: recruitment of an additional four sales representatives to cover hospitals located in the cities of Los Angeles, Charlotte, Chicago and Boston;
- Europe: signing of distribution agreements and launch of marketing in Austria;
- R&D: CE mark and first surgeries performed using new screws:
- Fenestrated screws intended for patients suffering from osteoporosis;
- Auto-Adjust to repair spinal fractures.
In terms of revenues, the first half of 2015 saw growth of +30% to €1,300 thousand, including an increase of +97% in the United States and +84% in France, Safe Orthopaedics’ two main markets. This robust performance was achieved despite an unfavourable base effect in the second quarter in the rest of Europe, which benefited from the initial orders resulting from the signing of new distribution agreements a year ago.
Growth strategy continues
As of June 30, 2015, Safe Orthopaedics has a cash position of €6.0 million, compared with €8.0 million at March 31, 2015 and €4.2 million at June 30, 2014.
Safe Orthopaedics therefore intends to continue with its growth strategy, primarily in the United States and by supporting the commercial development of its latest innovations, namely the new fenestrated screw for patients with osteoporosis and the Auto-Adjust implant to repair spinal fractures.
Marie Landel appointed as independent board member
At the annual general meeting of June 25, 2015, Marie Landel was appointed independent board member of Safe Orthopaedics.
Marie Landel is a certified accountant who has been based in Boston since 1990, with extensive experience in helping French and European medtech companies in the United States, where she has large networks in financial and healthcare circles.
Next financial release: 1st half 2015 results on Wednesday September 16, 2015 (after market close)
About Safe Orthopaedics
Founded in 2010, Safe Orthopaedics is a French medical technology company that develops and markets an innovative range of sterile implants and associated single-use surgical instruments, with the aim of facilitating safer, optimized and lower-cost spinal surgery. By avoiding the reuse of surgical instruments, Safe Orthopaedics reduces the risk of infection, avoids the cumbersome and unreliable logistics of instrument sterilization, and limits hospital costs. Protected by 17 patent families, the company’s CE-marked and FDA-approved SteriSpineTM kits are already being marketed in 12 countries, in Europe and the United States. They are being rapidly adopted by surgeons throughout the world, with nearly 1,000 procedures performed in 2014 and 1,143 in the first half of 2015 alone. The company is based at Eragny-sur-Oise (France), and has 33 employees and a US subsidiary.
For more information, visit: www.SafeOrtho.com
Safe Orthopaedics NewCap
Yves Vignancour Julien Perez / Valentine Brouchot
CEO Investor Relations
Thierry Lambert Nicolas Merigeau
CFO Press Relations
Tel.: +33 (0)1 34 21 50 00 Tel.: +33 (0)1 44 71 94 94
This press release contains certain forward-looking statements concerning Safe Orthopaedics and its business. Such forward-looking statements are based on assumptions that Safe Orthopaedics considers to be reasonable. However, there can be no assurance that the anticipated events contained in such forward-looking statements will occur. Forward-looking statements are subject to numerous risks and uncertainties including the risks set forth in the registration document of Safe Orthopaedics registered by the French Financial Markets Authority (Autorité des marchés financiers) on January 12, 2015 under number I.15-003 (a copy of which is available on www.safeorthopedics.com) and to the development of economic conditions, financial markets and the markets in which Safe Orthopaedics operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Safe Orthopaedics or not currently considered material by Safe Orthopaedics. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Safe Orthopaedics to be materially different from such forward-looking statements.
This press release and the information that it contains do not constitute an offer to sell or subscribe for, or a solicitation of an offer to purchase or subscribe for, Safe Orthopaedics shares in any country.