Vexim Release: Sharp Rise in Sales for First Nine Months of 2013: Multiplied by 2.3 to €4.1 Million
Toulouse, October 14, 2013 - VEXIM (FR0011072602 - ALVXM), a medical device company specialized in minimally-invasive solutions for the treatment of vertebral fractures, today reported sales for the 3rd quarter and the first nine months of 2013.
VEXIM's sales for the first nine months of fiscal 2013 reached €4.1 million (x2.3 compared to the same period one year earlier), with strong gains both in France (x2.6 to €1.9 million) and international markets (x2.1 to €2.2 million). This performance was mainly driven by direct sales of SpineJack® in Europe's largest markets for kyphoplasty and vertebroplasty (France, Germany, Italy, Switzerland, United Kingdom and Spain) that account for 93% of VEXIM's total revenues.
Fifth consecutive quarterly rise exceeding 100%
In the 3rd quarter alone, VEXIM sales rose by a multiple of 2.3 from the same period in 2012 to reach €1.6 million. This strong performance was sustained by 1,102 SpineJack® implants sold in the period, increasing the total number implanted since release on the market to more than 7,400. Currently, 178 surgeons regularly use SpineJack® in Europe. Reflecting exponential growth in the adoption of the implant by spine specialists, quarterly sales nearly doubled in international markets and were multiplied by 2.7 in France. VEXIM's sales have increased more than twofold for five consecutive quarters.
Vincent Gardès, CEO of VEXIM, commented: "With this strong 3rd quarter performance, momentum of the prior quarters remains on track. Our strategy of direct sales to European hospitals combined with intensive training for surgeons is starting to produce results. We intend to pursue this dynamic growth trajectory to establish SpineJack® as a benchmark for the treatment of vertebral compression fractures."
About VEXIM, the innovative back microsurgery specialist
Based in Balma, near Toulouse (France), VEXIM is a medical device company created in February 2006. The Company has specialized in the creation and marketing of mini-invasive solutions for treating traumatic spinal pathologies. Benefitting from the financial support of its longstanding shareholders, Truffle Capital1 and Banexi Venture, and from OSEO public subsidies, VEXIM has designed and developed the SpineJack®, a unique implant capable of repairing a fractured vertebra and restoring the balance of the spinal column. The Company currently has 50 staff. It has its own sales teams in France, Germany, Italy, Spain, Switzerland and the United Kingdom, as well as distributors notably in Turkey, Argentina, India, Taiwan and in the following countries where the product is currently being registered: Mexico, Brazil, Colombia, Venezuela, Chile, Ecuador and Peru. VEXIM has been listed on NYSE Alternext Paris since May 3rd 2012.
For further information, please go to www.vexim.com
SpineJack®2, a revolutionary implant for treating Vertebral Compression Fractures
The revolutionary aspect of the SpineJack® lies in its ability to restore a fractured vertebra to its original shape, restore the spinal column’s optimal anatomy and thus remove pain and enable the patient to recover their functional capabilities. Thanks to a specialized range of instruments, inserting the implants into the vertebra is carried out by mini-invasive surgery, guided by X-ray, in approximately 30 minutes, enabling the patient to be discharged shortly after surgery. The SpineJack® range consists of 3 titanium implants with 3 different diameters, thus covering 95% of vertebral compression fractures and all patient morphologies.
SpineJack® technology benefits from the support of international scientific experts in the field of spine surgery and worldwide patent protection until 2029.
Contacts
VEXIM
Vincent Gardès
CEO
Tel: +33 5 61 48 48 38
shareholders@vexim.com
NewCap.
Financial Communications
and Investor Relations
Dusan Oresansky / Emmanuel Huynh
Tel: +33 1 44 71 94 92
vexim@newcap.fr
Press Relations
Caroline Carmagnol
caroline@alizerp.com
Tel: +33 6 64 18 99 59
Christian Berg
christian@alizerp.com
Tel: +33 1 70 22 53 86
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