SpineVision, a French medical device company that designs, develops and markets products for the surgical treatment of spine disorders, has raised $10 million in fresh capital. The round was led by healthcare investment specialist Omega Funds, a new investor in the company.
SpineVision(R) SA, a commercial-stage medical device company that designs, develops and markets products for the surgical treatment of spine disorders, announced a $10 million capital raise from new and existing investors. The round was led by healthcare investment specialist Omega Funds, a new investor in the company.
The proceeds will provide growth capital for expansion of existing commercial operations, primarily in the U.S. market, as well as for growing commercial activities in Europe. In addition, the capital raised will allow the company to strengthen its R&D efforts and develop an innovative approach to the traditional supply chain.
Arnaud Brisard, CEO of the Company, commented: “Welcoming Omega, Alto Invest and Midi Capital as investors in a substantial capital increase is a key milestone in our development. We now have resources to accelerate the expansion of SpineVision(R) with the objective to further grow our revenue base and achieve sustainable profitability. The present topline growth validates the product strategy implemented since 2009, and this capital increase will accelerate the development of new innovative product lines.”
Omega Fund’s Renee Aguiar-Lucander added: “The management team has, since 2009, built an innovative product portfolio and achieved significant commercial success with limited financial resources. We believe the company will now enter a key growth phase, and we look forward to working with the team to take the company to the next level.”
SpineVision(R) is a privately owned, integrated spinal technology company, focused on developing and marketing implants and instrumentation for spinal treatment. Since its founding in 1999, the company has designed innovative products offering key advantages to surgeons and benefits to patients. The company recently received CE marking for its new generation Flex+2(TM) dynamic stabilization rod. In addition 510(k) approval has been granted for a range of surgical instrumentation focused on a minimally invasive approach to treating conditions related to aging and degeneration of the spine.
SpineVision(R) currently has operating entities in France, Italy, Benelux, UK and the United States, complemented by distribution agreements in several other territories, including in emerging markets. The company posted double-digit revenue growth in 2012, with strong growth continuing in the first quarter of 2013, validating the attractiveness of its new product portfolio.
Bryan, Garnier & Co. acted as exclusive financial advisor to the Company’s shareholders and management.
About SpineVision(R) SpineVision(R) is a privately owned, integrated spinal technology company focused on the development and marketing of implants and instrumentation for spinal treatment. Since its founding in 1999, the company has designed innovative products that offer key advantages to surgeons and benefits to patients. SpineVision(R)’s current products offer solutions for approximately 90% of spinal pathologies: i.e. lumbar degenerative disc diseases, deformities, cervical disorders, trauma and tumors. With its new-generation products Flex+2(TM) and LUMIS(TM), SpineVision(R) is the only manufacturer offering a dynamic stabilization system that can be used in a percutaneous approach. The Company is headquartered in Antony (south of Paris), France, and has subsidiaries in the USA, Italy, Belgium and UK. Contact: Celine Lilloni, email@example.com – +33 (0)1 53 33 25 25.
About Omega Funds Omega Funds is a leading international healthcare-focused investment firm specialized in providing partial or complete liquidity solutions for healthcare venture and growth equity investors, as well as for corporations and institutions investing in the broader healthcare space. As part of its business, Omega Funds also provides follow-on capital to companies, founders and investment firms, as well as collaborates with universities to invest in their leading spin-off opportunities. Contact: Renee Aguiar-Lucander, firstname.lastname@example.org.
About ALTO INVEST ALTO INVEST is an independent management company dedicated to investments in SMEs. ALTO INVEST manages over EUR 300 million in retail and institutional funds (FCPI, FIP and FCPR), invested in more than 100 European innovation-rich companies representing a total turnover of EUR6 billion and 40,000 employees. ALTO INVEST is fully approved by the French financial authorities (Autorite des Marches Financiers) and is an active member of the French Asset Management Association (Association Francaise de la Gestion Financiere). Contact: Antoine Valdes, email@example.com, Benoit Thiedey, firstname.lastname@example.org.