Bryan, Garnier & Co has advised SpineVision® on a $10 Million Private Placement
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Paris, May 16th, 2013 – Bryan, Garnier & Co today announces the completion of $10M fundraising for SpineVision®, a privately-owned spinal devices company focused on the development and marketing of implants and instrumentation for spinal surgery.
Created in 1999 and headquartered in Antony (South of Paris), SpineVision® has developed an innovative products range covering approximately 90% of spinal pathologies. More recently, the company has focused its R&D efforts to develop minimally invasive surgery instrumentation and dynamic stabilization devices.
SpineVision® currently has operating entities in France, Italy, Benelux, UK and the United States, complemented by distribution agreements in several other territories, including the emerging markets. The company posted double-digit revenue growth in 2012, with strong growth continuing in the first quarter of 2013, validating the attractiveness of its new product portfolio.
Bryan, Garnier & Co acted as exclusive financial advisor to the company’s shareholders and management. Omega Funds, Alto Invest and Midi Capital took part as new investors in the financing round. The raised capital will be used primarily to finance organic growth:
- Launch post-marketing clinical studies for Flex+® and LumisTM in Europe;
- Increase commercialization capabilities in the US;
- Continue to explore other R&D and geographical developments.
As stated, the proceeds will provide growth capital for expansion of existing commercial operations, primarily in the US market,
as well as for growing commercial activities in Europe. In addition, the raised capital will allow the company to strengthen its R&D efforts and develop an innovative approach to the traditional supply chain.
Arnaud Brisard, SpineVision®’s CEO, stated: “Welcoming Omega, Alto Invest and Midi Capital as investors in a substantial capital increase is a key milestone in our development. We now have resources to accelerate the expansion of SpineVision® to further grow our revenue base and achieve sustainable profitability. The present topline growth validates the product strategy implemented since 2009, and this capital increase will accelerate the development of new innovative product lines.”
“The management team has, since 2009, built an innovative product portfolio and achieved significant commercial success with limited financial resources. We believe the company will now enter a key growth phase, and we look forward to working with the team to take the company to the next level”, added Renee Aguiar-Lucander, Partner at Omega Fund.
Jean-Christophe Renondin, Managing Director at Bryan, Garnier & Co, commented: “We were very impressed by the turnaround since 2008 when the new management took over the company. The experienced and seasoned team has brought strong organizational, marketing and commercial skills. We are strongly convinced that SpineVision® will rapidly become a major player in the spine market.”
For more information, please contact:
Jean-Christophe Renondin Managing Director +33 1 56 68 75 35 jcrenondin@bryangarnier.com
Raquel Pires Senior Analyst – Corporate Finance +33 1 56 68 75 38 rpires@bryangarnier.com
About SpineVision®
SpineVision® is a privately owned, integrated spinal technology company focused on the development and marketing of implants and instrumentation for spinal treatment. Since its founding in 1999, the company has designed innovative products that offer key advantages to surgeons and benefits to patients. SpineVision®’s current products offer solutions for approximately 90% of spinal pathologies: i.e. lumbar degenerative disc diseases, deformities, cervical disorders, trauma and tumours. With its new-generation
products Flex+2TM and LUMISTM, SpineVision® is the only manufacturer offering a dynamic stabilization system that can be used in a percutaneous approach. The company is headquartered in Antony (south of Paris), France, and has subsidiaries in the USA, Italy, Belgium and UK.