SPINEWAY: Update on the legal proceedings against Strategos

Ecully, March 21, 2025 –

Spineway, a specialist in innovative implants for the treatment of severe spinal pathologies, announces that the United States Court of Appeals for the Third Circuit (Delaware Court of Appeals ) has decided, in a judgment handed down on March 19, 2025, to confirm the decision rendered at first instance and dismissing the Spineway group’s request for enforcement of the arbitral award rendered in Geneva which upheld Spineway’s claim on the merits.

The Group recalls that in 2019, it had acquired a stake in Integral Medical Solutions (IMS) ¹ , owned by Strategos. As Strategos had not implemented the planned operational plan, Spineway initiated proceedings before the Geneva Arbitral Tribunal, which issued an award dated January 20, 2022, in favor of Spineway, ordering Strategos to return the full purchase price of the shares, i.e. €4,160,000, plus interest, and to reimburse the arbitration costs incurred.

Since Strategos never responded to Spineway’s requests for payment, the latter initiated the procedure for recognition of the decision of the Geneva arbitral tribunal in the United States, a prerequisite for any recovery action. Indeed, the enforcement of the decision requires recognition of the award by the judicial authorities of the State of Delaware, the location of the headquarters of the parent company Strategos. In this context, Spineway filed a request for recognition of the arbitral award before the United States District Court for the District of Delaware , which dismissed the request for confirmation of the arbitral award by an order dated March 1, ^2024. Following this judgment, Spineway appealed this order to the Delaware Court of Appeals, which has now upheld the first instance decision.

Determined to have its rights recognized, the Spineway group is studying alternative legal avenues to enforce the Geneva arbitration award, which is in its favor on the merits.

Next meeting  :
March 24, 2025 – 2024 annual results

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

Spineway designs, manufactures, and markets innovative ranges of surgical implants and instruments for treating severe spinal pathologies.
Spineway has a global network of more than 50 independent distributors and generates more than 70% of its revenue from exports.
ISIN  : FR001400N2P2- ALSPW 

Contacts:

1 Press releases of March 20, 2019 and May 16, 2019