Ecully, November 24, 2023 –
The Spineway Group, a specialist in innovative implants for the treatment of severe spine disorders, announces the accelerated rollout of its range of VEOS implants for intervertebral fixation by posterior approach into new markets.
This technology, which addresses the largest segment of the spine implant market, estimated to be worth nearly US$12 billion,1 has received CE/MD marking and 510(k) clearance from the US Food and Drug Administration (FDA). On the strength of these approvals, Spineway is rolling out sales of its VEOS system in France, via direct sales to healthcare facilities, as well as in Europe and the export market through a network of importer-distributors.
First implants in Spain
In Spain, the distribution of the VEOS range has been entrusted to one of the major players in the distribution of orthopedic and spinal implants, and the first implants were performed on patients in hospitals in Barcelona on November 13 and 15. These operations went well, and the Spanish surgeons were very satisfied with the VEOS instruments and implants, which enabled them to perform the correction and fixation procedures they had planned for their patients with precision. These first successful surgeries confirm the good fit between Spineway products and the needs of the Spanish spine surgery market.
New approvals in Colombia and Indonesia
Supported by US FDA approval in October 20232 and the product presentations given at the NASS (North American Spine Society) Congress in Los Angeles,3 the Spineway Group has just received approvals from health authorities for the VEOS range to be marketed in Colombia and Indonesia.
Entry into these new markets should contribute to sales growth for this range in 2024 and strengthen the Group’s positions in Latin America and Asia.
These new achievements consolidate Spineway’s position in the field of spine surgery and confirm its aim of becoming an innovative player in France and internationally, a leader in less invasive spine treatments.
SPINEWAY IS ELIGIBLE FOR PEA-SME (EQUITY SAVINGS PLANS FOR SMES)
Find out all about Spineway at www.spineway.com
This press release has been prepared in both English and French. In case of discrepancies, the French version shall prevail.
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 revenue comes from exports.
Spineway, which is eligible for investment through FCPIs (French unit trusts specializing in innovation), has received the OSEO Excellence award since 2011 and has won the Deloitte Fast 50 award (2011). Rhône Alpes INPI Patent Innovation award (2013) – INPI Talent award (2015).
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1 Source: iData Market Research 2022
2 Press release of October 19, 2023
3 Press release of November 2, 2023