January 19, 2017
VEXIM (Paris:ALVXM) (FR0011072602 – ALVXM / PEA‐PME eligible), a medical device company specializing in the minimally invasive treatment of vertebral fractures, today announces the appointment of Russell Powers as Vice President and General Manager of its US business, effective January 1st, 2017.
Russell brings more than 25 years of Medical Device experience in both the U.S. and International markets. Prior to VEXIM, Russell has served in various leadership roles with both NuVasive and Medtronic. Most recently Russell held the position of Executive Vice President of International and President of China for NuVasive. Prior to that, he served as Senior Vice President, Operations and Senior Vice President of Spinal and Biologics at NuVasive. During his 13 year-career at Medtronic, Russell held the positions of Vice President, U.S. Sales Operations, Vice President, International and various positions in Global Marketing. Russell began his career in orthopaedics and spine with Smith & Nephew as a member of the Trauma Marketing Group. Russell received a B.B.A from the University of Memphis.
“We are extremely pleased and honored to welcome Russell to VEXIM. He brings tremendous expertise and experience that will help VEXIM to define and execute its strategy in the US for the Spinejack®. 2017 is a very important and strategic year for VEXIM: One, because we will complete and file our dossier to the US FDA for and open a 500M€ market for the Spinejack®; Two, because our company will start to be profitable; Three, because we will continue to expand our footprint and penetration in Europe and in Key Strategic markets. Last but not least we will also continue to provide innovation to the treatment of vertebral fractures,” said Vincent Gardès, CEO of VEXIM.
“I could not be more excited to join the VEXIM team. I believe in VEXIM’s mission and their focus on spine trauma. I also believe in the VEXIM leadership team that has deep customer and industry relationships and has demonstrated the ability to take significant market share in Europe. VEXIM’s story in Europe is remarkable. I plan to deploy the same strategies that have proven successful in Europe in the U.S., leading with the game changing technology of the SpineJack® and demonstrating superior clinical outcomes. Over the course of 2017 we will evaluate various go to market strategies to include building a direct organization and/or finding a strategic partner in the U.S. We are currently investigating both options, outlining a detailed plan for the U.S. VEXIM organization and assessing potential strategic partnerships. I am very much looking forward to building the VEXIM U.S. business,” said Russell Powers, VP GM of VEXIM US.
Financial reporting schedule:
2016 Full-Year Results: March 23rd, 20171
About VEXIM, the innovative back microsurgery specialist
Based in Balma, near Toulouse (France), VEXIM is a medical device company created in February 2006. The company has specialized in the creation and marketing of minimally-invasive solutions for treating traumatic spinal pathologies. Benefitting from the financial support of it longstanding shareholder, Truffle Capital2 and from BPI public subsidies, VEXIM has designed and developed the SpineJack®, a unique implant capable of repairing a fractured vertebra and restoring the balance of the spinal column. The company also developed the MasterflowTM, an innovative solution for mixing and injecting orthopedic cement that enhances the accuracy of the injection and optimizes the overall surgical procedure. The company counts 66 employees, including its own sales teams in Europe and a network of international distributors.
VEXIM has been listed on Alternext Paris since May 2012. For further information, please visit www.vexim.com
SpineJack® 3, a revolutionary implant for treating Vertebral Fractures
The revolutionary aspect of the SpineJack® lies in its ability to restore a fractured vertebra to its original shape, restore the spinal column’s optimal anatomy and thus remove pain and enable the patient to recover their functional capabilities. Thanks to a specialized range of instruments, inserting the implants into the vertebra is carried out by minimally-invasive surgery, guided by X-ray, in approximately 30 minutes, enabling the patient to be discharged shortly after surgery. The SpineJack® range consists of 3 titanium implants with 3 different diameters, thus covering 95% of vertebral fractures and all patient morphologies. SpineJack® technology benefits from the support of international scientific experts in the field of spinal surgery and worldwide patent protection through to 2029.
MasterflowTM 2, a high-performance orthopedic cement delivery system
The MasterflowTM is an innovative solution for mixing and injecting orthopedic cement that enhances the accuracy of the injection and optimizes the overall surgical procedure for treating vertebral compression fractures. The device provides a better control of the injection of biomaterials into the spine. A complement of the SpineJack®, the MasterflowTM stands out for being both easy to use and precise, particularly in its ability to stop the cement delivery instantly without inertia. The MasterflowTM contributes to reducing pain in patients. Its first sales were recorded in the U.S. in February 2015, and the system has also received the CE marking in February 2015, a mandatory conformity mark for products marketed in Europe.
Name : VEXIM
ISIN code : FR0011072602
Ticker : ALVXM
1 Indicative date, subject to changes.
2 Founded in 2001 in Paris, Truffle Capital is a leading independent European private equity firm. It is dedicated to investing in and building technology leaders in the IT, life sciences and energy sectors. Truffle Capital manages €550m via FCPRs and FCPIs, the latter offering tax rebates (funds are blocked during 7 to 10 years). For further information, please visit www.truffle.fr and www.fcpi.fr.
3 This medical device is a regulated health product that, with regard to these regulations, bears the CE mark. Please refer to the Instructions for Use.
Vincent Gardès, CEO
José Da Gloria, Chief Financial Officer
Tél. : +33 5 61 48 48 38
Caroline Carmagnol / Wendy Rigal
Tél. : +33 1 44 54 36 66
Tél. : +33 6 48 82 18 94