Safe Orthopaedics Announces the Consolidation of Its Share Capital and the Renewal of Its Board of Directors Following the Shareholders General Assembly of November 26th, 2019

  • Approval of the consolidation of the share capital
  • Appointment of new independent directors: Philippe Chêne, Philippe Petrou and Ismaël Nujurally
  • Appointment of directors holding a salaried position: Thomas Droulout and François-Henri Reynaud
  • Appointment of Pierre Dumouchel as Chairman of the Board of Directors

ÉRAGNY-SUR-OISE, France--()--Regulatory News:

Safe Orthopaedics (Paris:ALSAF) (FR0012452746 – ALSAF), a company specialized in the design and marketing of always new and sterile single-use implants and instruments improving the minimally invasive treatment of spinal fracture conditions, announces today that the Shareholders General Assembly of this day approved all of the resolutions submitted to the vote of the meeting, including the consolidation of its share capital by grouping 150 existing shares for 1 new share, and decided the renewal of the Board of Directors. In this context, the newly formed Board of Directors appointed Pierre Dumouchel, current Chief Executive Officer of Safe Orthopaedics, as Chairman of the Board of Directors and implemented the consolidation of the share capital.

The process of the consolidation of its Company's shares will take place in December 2019.

The renewal of the Board of Directors is made in the context of the implementation, by the management team of the company, of a clear industrial and commercial development strategy, in the context of the cost reduction of its central functions.

The new independent directors of the company have a strong professional expertise:

- Mr. Philippe CHÊNE, 60 years old, is leading the company Winncare since 2012, a french medium-sized company specialized in the manufacturing and distribution of medical devices relating to patient mobility. Mr. Philippe Chêne is a graduate of EM Lyon and has held various positions as financial controller, marketing manager, sales manager and division director within international companies such as American Hospital Supply, Medtronic and Baxter, in France as well as in Europe.
Philippe Chêne chairs the French National Union of Medical Technologies Industry (“SNITEM”).

- Mr. Philippe PETROU, 57 years old, has spent his entire career in the banking and financial industry as well as in Counsel. He holds a DESS of Statistical and Computing Techniques and an Executive MBA of HEC.

Following various general management positions within Odier Bungener Courvoisier Bank, he joined the executive management in 1999. In 2001, he was appointed Secretary General and CFO for ABN-AMRO Group in France, then member of the Executive Board of Neuflize Schlumberger Mallet in 2003.
In 2007, he joined ALPHA BANK and became director of a banking institution in eastern Europe.
Since 2010, he supports medium-sized companies and Startups in France and abroad. He is Senior Advisor of Grant Thornton Executive since 2013.

- Mr. Ismael Nujurally, 62 years old, is a medical doctor specializing in pathology and in emergency medicine. He holds a marketing degree of ESCP.

He has accumulated over 30 years of experience in the industry of medical devices in Europe and abroad and has worked for Abott France, CR Bars, Smith Medical, American Medical Systems (Pfizer), Tyco Healthcare (now Medtronic), Oxford Instruments (Cardinal Health), Theraclion in increasingly responsible positions, including CEO. Most recently, he has worked for Pentax Medical EMEO, as CEO EMEA and CEO France.

Thomas Droulout, Chief Technical Officer, co-founder of Safe Orthopaedics and founder of InvISTM and François-Henri Reynaud, Chief Financial Officer and founder of InvISTM have been appointed employee directors of Safe Orthopaedics.

We would first like to thank our former directors for their constant support and strong added value since the establishment of Safe Orthopaedics until now. They allowed the Company to reach several key objectives: conceive the first ready-to-use technologies for spine pathologies on a global scale, market these technologies and accomplish the initial public offering of the Company. Safe Orthopaedics applauds the fact that it has sold more than 15 000 surgical kits on a world scale and has potentially offered the benefits of its technologies to as many patientsconcludes Pierre Dumouchel, Chairman and CEO of Safe Orthopaedics.In a changing business and regulatory environment, with a difficult financial market, invested managers and new directors will have 3 priorities: to innovate and stay the leader of ready-to-use technologies, to maintain an accelerated growth through direct distribution in Europe and strategic partnerships on a world scale, and initiate a capitalistic revaluation plan.

Next financial publication

2019 annual revenue, on Monday 13th January 2020 (post-market)

About Safe Orthopaedics

Founded in 2010, Safe Orthopaedics, is a French medical technology company that offers the safest technologies to treat spinal fractures. Delivered sterile, all implants and respective disposable instrumentation are available to the surgeon at any time, anywhere. These technologies enable minimally invasive approaches, redcucing risks of cross contamination and infection in the interest of the patient. Protected by 17 patent families, SteriSpineTM kits are CE marked and FDA cleared. The company is based in Eragny-sur-Oise (95) and has 45 employees.

For more information: www.SafeOrthopaedics.com

Contacts

Safe Orthopaedics
François-Henri Reynaud
Chief Financial and Administrative Officer
Phone : +33 (0)1 34 21 50 00
investors@safeorthopaedics.com

Investor Relations
NewCap
Mathilde Bohin
Phone : +33 (0)1 44 71 94 94 / SafeOrtho@newcap.eu

Media Relations
Ulysse Communication
Bruno Arabian / +33 (0)6 87 88 47 26 / barabian@ulysse-communication.com
Nicolas Daniels / +33 (0)6 63 66 59 22 / ndaniels@ulysse-communication.com

Contacts

Safe Orthopaedics
François-Henri Reynaud
Chief Financial and Administrative Officer
Phone : +33 (0)1 34 21 50 00
investors@safeorthopaedics.com

Investor Relations
NewCap
Mathilde Bohin
Phone : +33 (0)1 44 71 94 94 / SafeOrtho@newcap.eu

Media Relations
Ulysse Communication
Bruno Arabian / +33 (0)6 87 88 47 26 / barabian@ulysse-communication.com
Nicolas Daniels / +33 (0)6 63 66 59 22 / ndaniels@ulysse-communication.com