ATLANTA and PARIS--(BUSINESS WIRE)--Dec. 6, 2005--
"SpineVision will distribute the treasure trove of new products being developed by FlexSpine and will oversee FlexSpine's initial product launches to thought-leaders." Gerard Vanacker, Founder and CEO, SpineVision(R).
SpineVision(R) announced today that it has raised more than $16 million. The Company will use approximately 80 percent of these funds to spin off its New Technologies Business Unit, creating a new wholly owned subsidiary--FlexSpine--to be headquartered in Singapore. In addition to working capital, SpineVision will contribute product expertise and human resources to FlexSpine. Products to be further developed through FlexSpine include an innovative hybrid dynamic stabilization system and interspinous spacer (both of which are expected to be commercialized in Europe next year and, soon thereafter, in the U.S.), as well as prosthetic discs.
