Fleurieux-sur-l’Arbresle, France – July 29, 2024 – The group Safe (FR001400F1V2 – ALSAF) announces consolidated sales for 1st half 2024.
| In k€ | First-half 2024* | First-half 2023 | % change |
| Sales | 2 587 | 2 909 | – 11,1% |
| Safe Orthopaedics | 1 303 | 1 726 | – 24,5% |
| Safe Medical | 1 284 | 1 183 | + 8,5% |
* Unaudited 2024 figures
The Safe Group’s consolidated sales for the 1st half of 2024 came to €2.6 million, maintaining a good level. Over the period, the new management team implemented a large-scale plan to transform the Group. Strategic decisions have been taken, including the implementation of a new sales dynamic, the first effects of which will be visible from the second half of 2024.
Half-year sales for Safe Orthopaedics came to €1.3 million, slightly above Group expectations, compared with €1.7 million in the first half of 2023. Safe Medical sales continued to grow, reaching €1.3 million, up 8.5% on the same period last year.
As a reminder, the Group has been in receivership since September 4, 2023, and has obtained an extension of its observation period until November 4, 20241. Beyond this 3rd observation period, validating the strategy, the Safe Group has achieved several successes, including the signature of a major partnership with a group of Californian hospitals, and the successful first implementations of the Sycamore device in Switzerland. Above all, the reorganization of the sales network in France, effective since May 2024, has enabled sales to start up in a dozen new hospitals and clinics.
The operational and financial reorganization undertaken by the Group should enable it to regain its competitiveness and return to profitable growth. At the same time, the management team is continuing to draw up the recovery plans 2which will be examined by the Commercial Court at a hearing scheduled for September 20, 2024.
About Safe Group
Safe Group is a French medical technology group that brings together Safe Orthopaedics, a pioneer in ready-to-use technologies for spine pathologies, and Safe Medical (formerly LCI Medical), a medical device subcontractor for orthopedic surgeries. The group employs approximately 100 people.
Safe Orthopaedics develops and manufactures kits combining sterile implants and ready-to-use instruments, available at any time to the surgeon. These technologies are part of a minimally invasive approach aimed at reducing the risks of contamination and infection, in the interest of the patient and with a positive impact on hospitalization times and costs. Protected by 15 patent families, SteriSpineTM kits are CE marked and FDA approved. Safe Orthopaedics has subsidiaries in the United Kingdom, Germany, the United States.
For more information: www.safeorthopaedics.com
Safe Medical produces implantable medical devices and ready-to-use instruments. It has an innovation center and two production sites in France and in Tunisia, offering numerous industrial services: industrialization, machining, finishing and sterile packaging.
For more information: www.safemedical.fr
Contacts
SAFE GROUP AELYON ADVISORS
investors@safeorthopaedics.com safe@aelyonadvisors.fr
1 Press release July 4, 2024
2 Companies in receivership: Safe Group, Safe Medical and Safe Orthopaedics
