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After a dynamic 2nd quarter, Spineway consolidated its growth in Q3 with revenues of €1.1m, an improvement or 22% as compared to Q3 2020, bringing 9-month activity to 2.9m (+27%). The Group is thus seeing an increase in its sales activity across all of its operating regions, excluding the USA. Moreover, the more favourable sales mix, oriented towards implants and higher value-added product lines, should contribute to improving the Group’s margins.

Spineway confirmed a sharp 153% 2021 half-year turnover increase compared with 2020 same period despite an international economic context still disrupted by the worldwide pandemic. The sales recovery in its main territories allowed the Group to increase its turnover to €1 1885K as at 30 June 2021 and to benefit from a growth of 31% compared with 2020 first semester. The integration of Distimp will enable the group to increase its products order and to develop its sales in the domestic market in the months to come.

Spineway, specialized in innovative implants for the treatment of severe disorders of the spinal column (spine), informs 2021 half year results are delayed due to the acquisition of Distimp, event that was not foreseen at the time the news agenda was published.

In an international context that is still disrupted by the global pandemic, Spineway recorded a 153% increase in revenue for the second quarter of 2021 compared with Q2 2020, driven by the recovery of its activity in its main territories and the integration of Distimp. This positive direction and the Group’s efforts to support its clients made it possible to generate revenue of €1 885K as at 30 June 2021 and post a 30% increase compared with the first half of 2020.

This acquisition is part of the Group’s growth strategy and allows Spineway to expand its products and services to provide a wider range of implants and instruments for the treatment of severe spinal disorders, as well as new operating techniques with high added value for surgeons. This move will also enable the Group to strengthen its commercial positions, particularly in France, by accessing Distimp’s extensive network of spine surgeons.

Spineway, specialized in innovative implants for the treatment of severe disorders of the spinal column (spine), signed a Memorandum of Understanding for the acquisition of 100% of the capital – subject to conditions precedent being met – of Distimp, a European start-up with which the Group began exclusive negotiations last March.

Spineway announces that, on 28 April 2021, it filed its Universal Registration Document (“DEU”) for the 2020 financial year with the “Autorité des Marchés Financiers” (AMF – the French financial markets authority) under number R.21 - 012.

In accordance with Spineway’s forecasts, revenue for the first quarter of 2021 followed the trend of yearend 2020 and amounted to €0.9M (€1M for Q1 2020) as a result of the new public-health measures in place in the various countries in which Spineway operates. As a reminder, revenue for the first quarter is usually lower than that of other quarters due to the structure of the Group’s markets. Also, this figure does not yet show the effects of the Group’s various sales initiatives and developments that should bear fruit in the next two quarters

Spineway, specialized in the design of innovative surgical implants and instruments for the treatment of severe disorders of the spine, continues its international development with the organization of a workshop in Thailand on the use of its products, and the signature of a distribution agreement in the US state of Ohio.