Bryan, Garnier & Co leads a 11,5 million IPO for MEDICREA on Alternext

Paris, June 23rd 2006 – Bryan, Garnier & Co, the independent pan-European investment bank focused on growth companies lead a 11,5 million IPO for MEDICREA on Alternext.

MEDICREA, specialized in conception, design, manufacturing and commercialisation of spinal medical devices, has announced it had completed its public offering by listing its shares on the Euronext Exchange.

The Company issued 1,459,396 new shares at €7.94 per share or a total of €11.58 million. Proceeds from the offering will help strengthen its research and development activities and increase its U.S. presence to capitalize on spinal market opportunities. Bryan, Garnier & Co acted as Lead Manager and Sole Bookrunner on this transaction.

For more information, please contact:

Olivier Garnier / Managing Partner / +33 1 56 68 75 71 / ogarnier@bryangarnier.com
Benoît Bouche / Managing Director – Healthcare Corporate Finance / +33 1 56 68 75 20 / bbouche@bryangarnier.com
Christian Finan / Director – Equity Capital Markets / +33 1 56 68 75 30 / cfinan@bryangarnier.com

About MEDICREA

Created in 2002 when Medicrea Technologies (a company manufacturing implants and instruments for orthopedic surgery, founded in 1990) and Orsco International (a spinal implant distribution company established in 1993) came together, the Medicrea Group offers a complementary range of products covering the entire family of spinal pathologies, from scoliosis to indications that are specific to cervical vertebrae and degenerative problems relating to vertebral discs in the lumbar spine.

With a market presence in 17 countries, 83% of MEDICREA Group’s 2005 revenue (6.7 M€) came from abroad. The company’s head office is located in Neyron, near Lyon. It has a manufacturing unit in La Rochelle and two recently created subsidiaries in the United Kingdom (Cambridge) and in the US (New York, Los Angeles).

Organized around an experienced team managed by Denys Sournac, MEDICREA is a very dynamic small business of 46 people, with a capacity of innovation that really makes it stand out.

MEDICREA designs and develops various concepts, as well as different and innovative spinal orthopedic implants, meeting the requirements of spine-specialist surgeons. MEDICREA’s medical devices provide real advances in terms of both facilitation and acceleration of implantation, as well as prosthetic space required, while offering new functionalities. With its long experience, its very reactive teams and its controlling the entire design, prototyping and manufacturing process internally, the MEDICREA Group perfectly fits with this market’s trends.).