Spineway-new development dynamics and confirmation of strategy

Ecully , June 24 , 2022

New momentum for a strong comeback on the French market

  • Successful participation in the SFCR Congress
  • Confirmation of the development and financing strategy

Spineway showed a good presence at the Congress of the SFCR, 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 several new products for the first time and, in particular, the ranges resulting from the acquisition of the Distimp company (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 sales experience,
– François Carlier, Marketing and International Sales Director, former founder of Colorado with 30 years of sales and marketing experience ,
– 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 heads of departments and renowned surgeons in the French landscape.

Spineway is thus strengthened in its development strategy which seeks, through targeted external growth, to position itself as a leading European player in the spine sector, in particular by extending its “product” offer via Premium innovations.

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 on June 13, 2022 and a new tranche of Convertible Bonds of €2.5 million was issued on 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 which will be submitted to the Extraordinary General Meeting of shareholders convened for July 25, 2022.

Next meeting July 13, 2022, publication of the turnover for the 1st half of 2022

Find all the information about Spineway on www.spineway.com

This press release is written in English and French. In case of discrepancy, the French version will prevail.

Spineway designs, manufactures and markets ranges of innovative surgical implants and ancillaries (instruments) intended to treat severe pathologies of the spine.
Spineway has a global network of more than 50 independent distributors and generates 90% of its turnover from exports.

Spineway, eligible for FCPI funds, has received the OSEO Excellence label since 2011 and is the winner of the Deloitte Fast 50 trophy (2011). INPI Rhône Alpes Patent Filing Policy Award (2013) – Labeled Talent INPI (2015).
ISIN: FR0011398874 – ALSPW        



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Solène Kennis

spineway @aelium.fr

Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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