PARIS & SAN FRANCISCO--(BUSINESS WIRE)--SpineGuard (FR0011464452 – ALSGD), an innovative company that develops and markets disposable medical devices designed to make spine surgery safer, reported today that its consolidated full-year 2016 revenue grew by 18%, to €7.5 million.
Pierre Jérôme, CEO and co-founder of SpineGuard, said: “We closed 2016 with a record quarter thanks to solid performances both in the US and in the rest of the world, passing the €2M quarterly mark. As expected, the recently launched PediGuard Threaded is starting to make an impact in the field, expanding the clinical breadth of our DSG™ (Dynamic Surgical Guidance) platform technology and bringing new surgeons on board.”
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Global revenue in the fourth quarter of 2016 increased 24% to €2,152k, compared with €1,730k in the fourth quarter of 2015. In the USA, the growth was 22% and 20% at constant exchange rate (cc). In the Rest of the World, growth was 40% in the fourth quarter of 2016 and 21% for the full year.
8,603 DSG enabled devices were sold in FY 2016 compared with 7,449 in FY 2015. 4,948 units were sold in the United States, representing 58% of total units sold. Revenue from the USA increased by 17% (16% cc) to €5,982k compared with €5,120k in FY 2015.
Previous press releases: SpineGuard receives OTW Spine Technology Award on November 16, 2016.
Next financial press release: 2016 annual results on March 23, 2017.
SpineGuard will participate to the 'Invest Securities Biomed Event' on January 26 in Paris.
Co-founded in 2009 in France and the USA by Pierre Jérôme and Stéphane Bette, SpineGuard’s mission is to make spine surgery safer by bringing real-time digital technology into the operating room. Its primary objective is to establish its proprietary DSG™ (Dynamic Surgical Guidance) technology as the global standard of surgical care, starting with safer screw placement in spine surgery and then in other surgeries. PediGuard®, the first device designed using DSG, was co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D., and Alain Vanquaethem, Biomedical Engineer. It is the world’s first and only handheld device capable of alerting surgeons to potential pedicular or vertebral breaches. Over 50,000 surgical procedures have been performed worldwide with DSG enabled devices. Numerous studies published in peer-reviewed medical and scientific journals have demonstrated the multiple benefits that PediGuard delivers to patients, surgical staff and hospitals. SpineGuard is expanding the scope of its DSG platform through strategic partnerships with innovative medical device companies and the development of smart instruments and implants. SpineGuard has offices in San Francisco and Paris. For further information, visit www.spineguard.com.
The SpineGuard securities may not be offered or sold in the United States as they have not been and will not be registered under the Securities Act or any United States state securities laws, and SpineGuard does not intend to make a public offer of its securities in the United States. This is an announcement and not a prospectus, and the information contained herein does and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in the United States in which such offer, solicitation or sale would be unlawful prior to registration or exemption from registration.