SpineGuard Reports 29% Growth and €1.9M Revenue for the Second Quarter 2016

PARIS & SAN FRANCISCO–(BUSINESS WIRE)–SpineGuard (FR0011464452 – ALSGD), an innovative company that develops and markets disposable medical devices that empower surgeons to enhance clinical outcomes and simplify surgeries, reported today that its second quarter 2016 revenue grew by 29%, to €1.9 million.

Pierre Jérôme, Co-founder and CEO of SpineGuard, said: “Our second quarter sales performance is very satisfactory, in line with management’s expectations. The PediGuard Threaded, launched in May at the international congress ‘SpineWeek’ and approved in the USA mid-June, is beginning to contribute to our strong revenue growth. It confirms the excellent feedback received from the surgeons involved in its limited release earlier this year.”

Global revenue in the second quarter of 2016 increased 29% on a reported basis and 31% at constant exchange rate (cc). In the first half, global revenue increased 22% (same at cc) to €3,633k, compared with €2,970k in the first half of 2015.

In the first half of 2016 4,351 PediGuard units were sold compared with 3,716 in the first half of 2015, including 2,449 (56%) in the United States, where revenue grew 26% (same at cc) to €2,866k in the first half of 2016 compared with €2,274k in the same period last year.

Latest news release: US FDA clearance to market PediGuard Threaded (June 16, 2016).

Next financial press release: 2016 Half-year financial results on September 14, 2016.

About SpineGuard®

Co-founded in 2009 in France and the USA by Pierre Jérôme and Stéphane Bette, SpineGuard’s mission is to make spine surgery safer by bringing real-time digital technology into the operating room. Its primary objective is to establish its proprietary DSG™ (Dynamic Surgical Guidance) technology as the global standard of surgical care, starting with 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 45,000 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.

Disclaimer

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.