SpineGuard Reports 41% Growth And €3M Revenue For The Half-Year 2015

PARIS & SAN FRANCISCO--(BUSINESS WIRE)--SpineGuard (FR0011464452 – ALSGD), an innovative company that designs, develops and markets disposable medical devices intended to make spine surgery safer, reported today that its half year revenue grew by 41%, to €3 million.

Pierre Jérôme, CEO of SpineGuard, said: “We are very pleased with the strong growth that the company delivered in the first half of 2015. Sales’ momentum is particularly solid in the USA and France, our two direct markets which had new record months in June. Looking forward, we are really excited about the upcoming launch of DSG™ (Dynamic Surgical Guidance) screws in collaboration with our partners.”

Global revenue in the first half year of 2015 increased 41% to €2,970k, compared with €2,110k in the first half of 2014. At constant exchange rate (cc), the growth rate is 21%.

Revenue in the United States increased 52% (23% cc) to €2,274k in the first half of 2015, compared with €1,500k in the first half of 2014, and represented 77% of global revenue. In the rest of the world, revenue increased 14% during the first half of 2015 to €696k compared with €610k in the first half of 2014, and represented 23% of global revenue. France, the company’s second direct market after the United States, reported a 42% growth in the second quarter of 2015 after 36% in the first quarter, and represents 5% of the global revenue.

3,716 PediGuard units were sold in the first half of 2015 compared with 3,008 in the first half of 2014, including 1,923 in the United States, representing 52% of total units sold.

Next financial press release: 2015 Half-year financial statements: September 24, 2015

About SpineGuard^®

Co-founded in 2009 in France and the USA by Pierre Jérôme and Stéphane Bette, SpineGuard’s mission is to make spine surgery safer. Its primary objective is to establish its proprietary Dynamic Surgical Guidance (DSG™) technology as the global standard of surgical care, initially for safer screw placement in spine surgery and then in other surgeries. PediGuard^®, the first device designed using DSG was co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D., and Alain Vanquaethem, Biomedical Engineer. It is the world’s first and only handheld device capable of alerting surgeons to potential pedicular or vertebral breaches. Close to 40,000 surgical procedures have been performed worldwide with PediGuard. Numerous studies published in peer-reviewed medical and scientific journals have demonstrated the multiple benefits that PediGuard delivers to patients, surgical staff and hospitals. In 2015 SpineGuard started to expand the applications of DSG into pedicle screws through partnerships with innovative surgical companies in France and the US. SpineGuard has offices in San Francisco and Paris. For further information, visit www.spineguard.com.

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