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In addition to a commercial performance, this exercise confirms the relevance of our mixed growth strategy combining organic growth and targeted acquisitions. The synergies implemented through the acquisition of Distimp in 2021 and Spine Innovations in 2022 are reflected in our sales by significantly strengthening our key geographic positions and our premium product lines.

At the largest scientific and commercial European congress dedicated to spinal surgery, which this year brought together almost 2,000 surgeons from around the world, Spineway was able to present its flagship instruments and implants (Mont-Blanc, Mont-Blanc MIS and Twin Peaks), three new ranges of Group spinal implants : Kaphorn, Veos, Acifbox and the two models of cervical and lumbar ESP disc prosthesis from Spine Innovations.

As in previous quarters, Spineway closed the third quarter of 2022 with a significant increase compared to the same period in 2021, with a turnover of €2.2 million, up 112%, driven in particular by the contributions of the Distimp range and the acquisition of Spine Innovations. This growth reinforces the Group's momentum, with a total turnover of €5.4 million for the first nine months of the year, exceeding the annual sales for fiscal year 2021.

SPINEWAY, specialized in the design, manufacturing and marketing of spine implants and surgical instruments, announces its participation to the Lyon Pôle Bourse Regional Values Forum, on Wednesday, September 28, 2022, at the Palais de la Bourse de Lyon, Esplanade François Mitterrand, in Lyon.

Spineway announces the completion of the reverse stock split by exchanging 1 new share of 4.00 euros par value for 40,000 old shares of 0.0001 euro par value. This transaction, which was carried out pursuant to a decision by the Company's shareholders at an Extraordinary General Meeting held on July 25, 2022, took effect on September 15, 2022

In the context of a still fragile and non-homogenous recovery in its areas of operation, Spineway achieved revenues of €3.1 million in the first half of 2022, up 65% compared to the first half of 2021. This increase is driven by the strong performance of sales in Latin America (+72% to €1.5M), the synergies implemented with Distimp, notably in France, which brought the turnover of the European zone to €0.9M (+106% compared to HF1 2021) and the solid results in the Middle East (€0.4M, up 96%).

The Extraordinary General Meeting of Spineway's shareholders was held on Monday, July 25, 2022 at 5:00 p.m. at the Company's headquarters. The resolutions presented, including those relating to the share consolidation, were approved by the shareholders with the exception of the 5th resolution, concerning the capital increase reserved for employees, which was rejected in accordance with the Board of Directors' recommendation. The Board of Directors of the Company, which met on the same day, decided to implement the share consolidation.

Spine Innovations, a spin-off from Groupe FH Ortho’s spine activity and majority owned by the investment fund LBO France, has over 25 years of expertise in the field of spine surgery. The company has developed, in collaboration with renowned French surgeons and after more than 10 years of Research & Development, the first viscoelastic lumbar prosthesis called "LP-ESP" which was implanted in 2004 at the Pitié Salpêtrière University Hospital in Paris.

Committed to a growth trajectory, Spineway saw its sales accelerate over the 2nd quarter 2022 to total turnover of 1,8 M€, an increase of 74% compared to last year, despite a still fragile and uneven context of recovery in the areas where it operates. This performance brings revenue for the first half 2022 to 3,1M€ (+65% compared to S1 2021). This allows the Group to exceed the turnover of the 1st half 2019 (before the crisis) by 19%, which amounted to 2,6 M€.