PARIS & SAN FRANCISCO--(BUSINESS WIRE)--SpineGuard (FR0011464452 – ALSGD), an innovative company that designs, develops and markets disposable medical devices designed to make spine surgery safer, reported today that its third quarter revenue grew by 45%, to €1.6 million.
Pierre Jérôme, CEO and co-founder of SpineGuard, said: “We are thrilled to report strong revenue growth for the third quarter after an excellent first half. In the USA, the symbolic mark of 1,000 units sold during one quarter was substantially exceeded and we continue our expansion in the rest of the world with the recent registration of the PediGuard in China. Looking forward, we are preparing the CE marking of the DSG™ (Dynamic Surgical Guidance) Screw in collaboration with our partners and are confident about performing the first surgery before year end.”
|€ thousands - IFRS||2015||2014||Variance|
|Year to Date 9 Months||4,616||3,243||+42%|
Global revenue in the third quarter of 2015 increased 45% to €1,646k, compared with €1,133k in the third quarter of 2014. In the USA, the growth was 57% and 32% at constant exchange rate (cc).
5,580 PediGuard units were sold in the first nine months of 2015 compared with 4,481 in the first nine months of 2014, including 3,064 in the United States, representing 55% of total units sold with a revenue increasing by 54% (26% cc) to €3,647k compared with € 2,376k in the first nine months of 2014.
Next financial press release: 2015 full year revenue January 14, 2016
SpineGuard will participate in the Large & Midcap Event 2015 on October 7 and 8 in Paris. In addition, SpineGuard will participate in Actionaria on November 20 and 21 in Paris.
Co-founded in 2009 in France and the USA by Pierre Jérôme and Stéphane Bette, SpineGuard’s mission is to make spine surgery safer. Its primary objective is to establish its proprietary DSG™ (Dynamic Surgical Guidance) technology as the global standard of surgical care, initially for safer screw placement in spine surgery and then in other surgeries. PediGuard®, the first device designed using DSG was co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D., and Alain Vanquaethem, Biomedical Engineer. It is the world’s first and only handheld device capable of alerting surgeons to potential pedicular or vertebral breaches. Over 40,000 surgical procedures have been performed worldwide with PediGuard. Numerous studies published in peer-reviewed medical and scientific journals have demonstrated the multiple benefits that PediGuard delivers to patients, surgical staff and hospitals. In 2015, SpineGuard started to expand the applications of DSG into pedicle screws through partnerships with innovative surgical companies in France and the US. SpineGuard has offices in San Francisco and Paris. For further information, visit www.spineguard.com.
The SpineGuard securities may not be offered or sold in the United States as they have not been and will not be registered under the Securities Act or any United States state securities laws, and SpineGuard does not intend to make a public offer of its securities in the United States. This is an announcement and not a prospectus, and the information contained herein does and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in the United States in which such offer, solicitation or sale would be unlawful prior to registration or exemption from registration.
Pierre Jérôme, +33 (0)1 45 18 45 19
Chief Executive Officer
Chief Financial Officer
Europe / NewCap
Florent Alba / Pierre Laurent, +33 (0)1 44 71 94 94
Investor Relations & Financial Communication
Ronald Trahan Associates Inc.
Ronald Trahan, APR, +1-508-359-4005, x108
Published at Business Wire