(Boursier.com) — Spineway announces the success of its participation in the SFCR Congress, the organization representing the surgical specialty of the spine in France, at the beginning of June 2022 in Nice. This congress was an opportunity to present for the first time several new products and, in particular, the ranges resulting from the acquisition of the company Distimp (Kaphorn, Veos, Acifbox). This expansion of the ranges of implants for the surgery of complex pathologies of the spine is part of the group’s more general strategy to become a key player in the market.
After several months of marketing preparation, Spineway publicly presented the first effects of the renovation of its product ranges and the consolidation of its teams, with the aim of strengthening its sales in high-profit territories (EC, USA, Japan, Australia). Indeed, this congress was also an opportunity to present the 4 new members of the management team around the Chairman and CEO of the company, Stéphane Le Roux, all from the spine implants sector:
– Fabrice Paccagnella, Sales Director France and French-speaking Africa, former founder of Distimp with more than 20 years of commercial experience,
– François Carlier, marketing and international sales director, former founder of Colorado with 30 years of experience in sales and marketing,
– Mourad Ben Mokhtar, R&D director, more than 20 years of experience in spine R&D,
– Pascale Davis, Scientific Director, former European Scientific and Marketing Director of a major player in the sector.
Also, in the presence of the surgeons who have developed the group’s new ranges of implants and instruments, discussions on operating techniques in spinal surgery were held with most of the department heads and renowned surgeons in the French landscape. Spineway is thus confirmed in its development strategy which seeks, via targeted external growth, to position itself as a European reference player in the spine sector, in particular, by extending its ‘product’ offer, via Premium innovations.
Consolidation of shares in sight
This action plan necessarily involves securing funding to ensure that the Group is part of this dynamic on a long-term basis. With this in mind, the OCABSA contract entered into with Negma on October 18, 2019 was extended by 3 months, by amendment dated June 13, 2022. A new tranche of convertible bonds of 2.5 million euros was issued June 15, 2022 with an option for an additional tranche of an equivalent amount by the end of July 2022.
The group is also working on its new financing plan in line with a desire for capital restructuring. As such, a share buyback program was renewed by the Combined General Meeting of April 11, 2022. The program launched makes it possible to serve a free share allocation plan for management up to 6.94 % of shares currently outstanding.
Finally, Spineway has initiated a share consolidation project, according to the resolutions that will be submitted to the Extraordinary General Meeting of shareholders, convened for July 25.
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