PARIS & SAN FRANCISCO:SpineGuard (Paris:ALSGD) (FR0011464452 – ALSGD), an innovative company that develops and markets disposable medical devices designed to make spine surgery safer, reported today its consolidated full-year 2017 revenue grew of €8.2 million up 10% and 12% at constant exchange rate (cc).
Stéphane Bette, CEO and co-founder of SpineGuard, said: “We are closing 2017 with a company record quarter despite a strong comparable base. We are extremely satisfied with this strong finish, supported by solid US sales, a first order in China, a sustained business in France and a tender order for the Middle East. As we continue to deliver double-digit growth with the PediGuard product range, we also support the launch of DSG™ screw business while developing our exciting R&D pipeline with the robotic application of DSG and the visual feedback capability to come into fruition in 2018. Last but not least, during the past 6 months the company made good progress towards its operating profitability goal for the end of 2018 with a positive impact on the Operating Result in FY 2017.”
|€ thousands – IFRS||2017||2016||Variance|
For the full year 2017, 8,764 DSG enabled devices were sold compared with 8,603 in FY 2016.
5,303 units were sold in the United States, representing 61% of total units sold. Revenue from the USA increased by 11% (14% cc) to €6,660k compared with €5,982k in FY 2016. In the rest of the world, revenue ended at €1,514k vs. €1,480 in FY 2016 back to growth at +2%. The consolidated revenue growth is 12% cc.
In the fourth quarter of 2017, revenue increased to €2,182k, compared with €2,152k in the fourth quarter of 2016 or 1%. In the USA, the growth was 5% cc establishing a company history record. In the Rest of the World, growth was 30% in the fourth quarter of 2017 thanks to the first order in China, a sustained activity in France and a tender order in Saudi Arabia.
Next financial press release: 2017 annual results on March 14, 2018.
Founded in 2009 in France and the USA by Pierre Jérôme and Stéphane Bette, SpineGuard’s mission is to make spine surgery safer by bringing real-time digital technology into the operating room. Its primary objective is to establish its proprietary DSG™ (Dynamic Surgical Guidance) technology as the global standard of surgical care, starting with 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. Over 60,000 surgical procedures have been performed worldwide with DSG™ enabled devices. Numerous studies published in peer-reviewed medical and scientific journals have demonstrated the multiple benefits that PediGuard® delivers to patients, surgical staff and hospitals. SpineGuard is expanding the scope of its DSG™ platform through strategic partnerships with innovative medical device companies and the development of smart instruments and implants. SpineGuard has offices in San Francisco and Paris. For further information, visit www.spineguard.com.
The SpineGuard securities may not be offered or sold in the United States as they have not been and will not be registered under the Securities Act or any United States state securities laws, and SpineGuard does not intend to make a public offer of its securities in the United States. This is an announcement and not a prospectus, and the information contained herein does and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in the United States in which such offer, solicitation or sale would be unlawful prior to registration or exemption from registration.