SPINEWAY: New distribution contract in the USA Appointment of Philippe Laurito as head of the US subsidiary

 Ecully, 1 March 2017

Spineway, specialist in surgical implants and instruments for treating disorders of the spinal column (spine,) announces the signature of a contract with a new US distributor for the sale of its implants and instruments.

The distributor is based in the Midwest and has a client portfolio that includes several hospitals and surgical centers. Spineway USA Inc. received a 1^st order for a hospital in the region and should receive a 2^nd order in April. These orders are for items from the Mont Blanc and the Twin Peaks lines, which are the Spineway Group’s mid-range offerings.

This new distribution contract is in addition to the two already signed, one with a California distributor (September 2016) and the other with a Texas distributor (January 2017), thus allowing Spineway to create a network that is slowly expanding throughout the United States.

Philippe Laurito becomes President of Spineway USA Inc.

In order to steer and roll out Spineway’s offer in the US, Philippe Laurito, Managing Director of Spineway, will become President of the Group’s US subsidiary as from 1 March 2017.

His expertise and in-depth knowledge of the American continent will allow him to guide and expedite the sale of Spineway products on the largest market in the world for spinal surgery. Philippe Laurito remains Deputy Managing Directory and member of the Spineway Group’s Executive Committee.

Thanks to these three distribution contracts and the in-situ steering of its US subsidiary, Spineway should increase its presence on the territory and see its sales grow quickly to represent at a short term almost 40% of the total sales of the group.

SPINEWAY IS ELIGIBLE FOR THE PEA-PME (EQUITY SAVINGS PLAN FOR SMES)
Find out all about Spineway at www.spineway.com

Next communication:
2016 Annual Results – 25 April 2017, after market closes

Spineway designs, manufactures and markets innovative implants and surgical instruments for treating severe disorders of the spinal column.
Spineway has an international network of over 50 independent distributors and 90% of its turnover comes from exports.
Spineway, which is eligible for investment through FCPIs (French unit trusts specializing in innovation), received the OSEO Excellence award as well as the Deloitte Fast 50 award in 2011. Rhône Alpes INPI Patent Innovation Award (2013) – Talent INPI award (2015).
ISIN code: FR0011398874 – ALSPW     

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