Vexim First Half 2014 Sales Rise 93.5 Percent To €4.9 Million
VEXIM (Paris:ALVXM) (FR0011072602 - ALVXM / PEA-PME eligible), a medical device company specializing in the minimally invasive treatment of vertebral fractures, today reported consolidated sales for the three and six month period ended June 30, 2014.
Strong growth in H1 2014
| (€ '000s) | Quarter Ended June 30, 2014 | Half-year Ended June 30, 2014 | ||||||||||
| Q2 2014 | Q2 2013 | Change (%) | H1 2014 | H1 2013 | Change (%) | |||||||
| Sales | 2,775 | 1,452 | +91.1% | 4,900 | 2,533 | +93.5% | ||||||
In the 2014 first half, VEXIM's sales reached €4.9 million, up 93.5% from the same period in 2013. This growth was driven by the successful rollout of SpineJack® across all geographic regions covered by VEXIM through the strategy of direct sales to European hospitals (83% of sales) and supplemented by specialized distributors in selected countries (17% of sales). On that basis, more than 3,600 SpineJack® implants were sold in the period, up 87% from the 1,900 sold in the 2013 first half. This brings the total number of implants sold since SpineJack was introduced in late 2010 to more than 12,600.
In the 2014 second-quarter, more than 2,000 implants were sold representing €2.8 million in sales, a 91.1% increase from the same period in 2013.
Vincent Gardès, CEO of VEXIM, commented: "We achieved a solid first half performance with strong revenue growth and for the first time since VEXIM's creation, sales for a single month surpassing the €1 million milestone in June. This momentum is expected to continue, bolstered by the the launch in early June of the SpineJack® New Generation system. Its rollout will be supported by the expertise of our direct sales force in strategic countries and the density of our indirect sales network and other strong growth geographic regions. In light of the recent extension of the CE marking for SpineJack® for all types of vertebral compression fractures, we are fully confident that we will achieve our goal of becoming the leader in the back microsurgery market."
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