TOULOUSE, France--(BUSINESS WIRE)--Regulatory News:
VEXIM (Paris:ALVXM) (FR0011072602 ‐ ALVXM / PEA-PME eligible), a medical device company specializing in spine trauma, today announces its consolidated annual sales as of December 31st, 2015.
Strong growth throughout 2015
| (€ ‘000s) | Q1 | Q2 | Q3 | Q4 | ||||||||||||||||||||
|
Q1 |
Q1 |
Growth |
Q2
|
Q2
|
Growth |
Q3 |
Q3 |
Growth |
Q4 |
Q4 |
Growth |
|||||||||||||
| Sales | 2 720 | 2 128 | +28% | 3 376 | 2 779 | +21% | 3 561 | 2 481 | +44% | 4 214 | 2 927 | +44% | ||||||||||||
| (€ ‘000s) | First Semester sales | Second Semester sales | Annual sales | |||||||||||||||
|
S1 |
S1 |
Growth |
S2
|
S2
|
Growth |
2015 | 2014 |
Growth |
||||||||||
| Sales | 6,096 | 4,907 | +24% | 7,775 | 5,408 | +44% | 13,871 | 10,315 | +34% | |||||||||
In the 4th quarter of 2015, VEXIM’s sales reached €4,2 million, an increase of 44% from the same period in 2014. These quarterly sales results are the best ever recorded since the company’s creation, in part due to VEXIM’s outstanding performance in Europe.
VEXIM’s sales growth accelerated in the second part of the year, growing from 24% in the first half of 2015 to 44% in the second half. This outcome resulted from the successful market penetration of SpineJack® in all of the geographic areas covered by VEXIM largely through direct sales to hospitals in Europe (89% of sales) and specialized distributors in other territories (11% of sales). Overall, more than 10,000 SpineJack® implants were sold in 2015 (+32% compared to 2014), bringing the total number of implants sold since the market launch of SpineJack® to more than 27,500 units.
The company continues to be in line with its growth strategy as defined at the time of VEXIM’s IPO in 2012. With over 350 active customers, the company’s growth expectations remain strong. As a result, VEXIM anticipates to keep expanding in Europe at an approximate annual growth rate of 30%. The company also expects to develelop its distribution channel to keep growing in other territories, including Latin America and Asia.
VEXIM’s strong growth of sales will also translate into further market share gains in the spine trauma segment. The company aims to increase its European market share from an estimated 7% at the end of 2015 to around 20% by the end of 2017.
Vincent Gardès, CEO of VEXIM, commented: “Our sales performance and penetration of the spine trauma market remain strong. As we celebrate this year the 10th anniversary of the creation of Vexim, our growth perspectives are as strong as they have ever been, in Europe and beyond. We remain fully confident in our ability to achieve our goal of becoming a recognized global leader in the spine trauma market.”
Financial reporting schedule:
Annual results 2015: March 23rd,
2016*
First quarter 2016 sales: April 14th, 2016*
*tentative
dates
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 minimally-invasive solutions for treating traumatic
spinal pathologies. Benefitting from the financial support of it
longstanding shareholder, Truffle Capital1 and from BPI
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 also developed the
MasterflowTM, an innovative solution for mixing and injecting
orthopedic cement that enhances the accuracy of the injection and
optimizes the overall surgical procedure. The company counts 60
employees, including its own sales teams in Europe and a network of
international distributors.
VEXIM has been listed on Alternext Paris since May 2012. For further information, please visit www.vexim.com
SpineJack®2, a revolutionary implant for
treating Vertebral 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 minimally-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 fractures and all patient morphologies.
SpineJack® technology benefits from the support of international
scientific experts in the field of spinal surgery and worldwide patent
protection through to 2029.
MasterflowTM 2, a high-performance
orthopedic cement delivery system
The MasterflowTM
is an innovative solution for mixing and injecting orthopedic cement
that enhances the accuracy of the injection and optimizes the overall
surgical procedure for treating vertebral compression fractures. The
device provides a better control of the injection of biomaterials into
the spine. A complement of the SpineJack®, the MasterflowTM
stands out for being both easy to use and precise, particularly in its
ability to stop the cement delivery instantly without inertia. The
MasterflowTM contributes to reducing pain in patients. Its
first sales were recorded in the U.S. in February 2015, and the system
has also received the CE marking in February 2015, a mandatory
conformity mark for products marketed in Europe.
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1 Founded in 2001 in Paris, Truffle Capital is a leading independent European private equity firm. It is dedicated to investing in and building technology leaders in the IT, life sciences and energy sectors. Truffle Capital manages €550m via FCPRs and FCPIs, the latter offering tax rebates (funds are blocked during 7 to 10 years). For further information, please visit www.truffle.fr and www.fcpi.fr.
2 This medical device is a regulated health product that, with regard to these regulations, bears the CE mark. Please refer to the Instructions for Use.
