ANTONY, France--(BUSINESS WIRE)--SpineVision® SA, a commercial-stage medical device company that designs, develops and markets products for the surgical treatment of spine disorders, announced a $10 million capital raise from new and existing investors. The round was led by healthcare investment specialist Omega Funds, a new investor in the company.
The proceeds will provide growth capital for expansion of existing commercial operations, primarily in the U.S. market, as well as for growing commercial activities in Europe. In addition, the capital raised will allow the company to strengthen its R&D efforts and develop an innovative approach to the traditional supply chain.
Arnaud Brisard, CEO of the Company, commented: “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® with the objective 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.”
Omega Fund’s Renee Aguiar-Lucander added: “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.”
SpineVision® is a privately owned, integrated spinal technology company, focused on developing and marketing implants and instrumentation for spinal treatment. Since its founding in 1999, the company has designed innovative products offering key advantages to surgeons and benefits to patients. The company recently received CE marking for its new generation Flex+2TM dynamic stabilization rod. In addition 510(k) approval has been granted for a range of surgical instrumentation focused on a minimally invasive approach to treating conditions related to aging and degeneration of the spine.
SpineVision® currently has operating entities in France, Italy, Benelux, UK and the United States, complemented by distribution agreements in several other territories, including in 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.
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 tumors. 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. Contact: Céline Lilloni, firstname.lastname@example.org - +33 (0)1 53 33 25 25.
About Omega Funds
Omega Funds is a leading international healthcare-focused investment firm specialized in providing partial or complete liquidity solutions for healthcare venture and growth equity investors, as well as for corporations and institutions investing in the broader healthcare space. As part of its business, Omega Funds also provides follow-on capital to companies, founders and investment firms, as well as collaborates with universities to invest in their leading spin-off opportunities. Contact: Renee Aguiar-Lucander, email@example.com.
About ALTO INVEST
ALTO INVEST is an independent management company dedicated to investments in SMEs. ALTO INVEST manages over € 300 million in retail and institutional funds (FCPI, FIP and FCPR), invested in more than 100 European innovation-rich companies representing a total turnover of €6 billion and 40,000 employees. ALTO INVEST is fully approved by the French financial authorities (Autorité des Marchés Financiers) and is an active member of the French Asset Management Association (Association Française de la Gestion Financière). Contact: Antoine Valdes, firstname.lastname@example.org, Benoît Thiedey, email@example.com.
About Midi Capital
Midi Capital is a rapidly growing, independent private equity company, specialized in financing small and medium businesses. Since 2010, Midi Capital has focused on the healthcare sector. Midi Capital manages over 120 M€ and a portfolio of investments of 65 small- and medium-sized companies covering a wide range of industrial and service sectors. Midi Capital promotes a unique investment approach, relying on an exclusive investment area in France (Aquitaine, Midi-Pyrénées, Languedoc-Roussillon, PACA). In 2012, Midi Capital was nominated as one of the 3 best French teams for capital venture by Capital Finance / Les Echos. Contact : firstname.lastname@example.org – +33 (0)5 62 25 91 62.
About Bryan, Garnier & Co.
Bryan, Garnier & Co. is an independent pan-European investment bank focused on growth companies in Technology, Media & Telecom, Healthcare & Life Sciences, Renewable Energy and Consumer sectors. With a research-driven approach, Bryan, Garnier & Co. offers institutional sales and trading, asset management and corporate finance services to growth-oriented investors and companies. With 150 professionals based in London, Paris, New York, New Delhi and Geneva, Bryan, Garnier & Co. offers the expertise of a fully fledged investment bank with the personalized attention and long-term client relationships of a boutique investment bank. Bryan, Garnier & Co. Ltd is authorized and regulated by the FSA, and a member of LSE and NYSE EURONEXT. Contact : Jean-Christophe Renondin, email@example.com - +33 (0)1 56 68 75 04.