- Strong International growth: +42% up to €2.4 million
- Continued growth in Europe: +14% up to €19.2 million
- More than 60,500 SpineJack implants sold since 2011
VEXIM (FR0011072602 ALVXM) (Paris:ALVXM), a medical device company specializing in the minimally invasive treatment of vertebral fractures, today announces its consolidated sales results for the full year 2017, as of December 31st, 2017.
Sales Numbers 2017
Revenues in millions of euros (IFRS, as of Dec 31st
|Quarterly sales||Full year sales|
|Region||Q4 2017||Q4 2016|| |
2017 sales results, increasing by +17% to €21.6 million, performs below the expectations of the management which anticipated an annual growth of +30%. The difference is primarily due to difficulties in penetrating the German market because of very low prices. Therefore, the profitability target for 2017 will not be achieved. The financial result will also be adversely affected in the amount of €5 million of exceptional expenses as part of the operation with Stryker (advisory fees).
Financial reporting schedule:
2017 Financial results: April 30th, 20182
About VEXIM, the innovative back microsurgery specialist
Based in Balma, near Toulouse (France), VEXIM is a medical device company created in February 2006. The Company has specialized in the creation and marketing of minimally invasive solutions for treating traumatic spinal pathologies. VEXIM has designed and developed the SpineJack, a unique implant capable of repairing a fractured vertebra and restoring the balance of the spinal column, and the MasterflowTM, an innovative solution for mixing and injecting orthopedic cement that enhances the accuracy of the injection and optimizes the overall surgical procedure. The company counts 61 employees, including its own sales teams in Europe and a network of international distributors. VEXIM has been listed on Euronext Growth Paris since May 2012. Following the simplified tender offer carried out in December 2017, the global leader in medical technology, Stryker, held 92,19% of VEXIM's capital at the end of year 2017. For further information, please visit www.vexim.com
SpineJack3, an innovative implant for treating Vertebral Compression Fractures
The SpineJack is designed to restore a fractured vertebra to its original shape, restore the spinal column's optimal anatomy and thus remove pain and enable the patient to recover their functional capabilities. Thanks to a specialized range of instruments, inserting the implants into the vertebra is carried out by minimally invasive surgery, guided by X-ray, in approximately 30 minutes, which is intended to enable the patient to be discharged shortly after surgery. The SpineJack range consists of 3 titanium implants with 3 different diameters, thus covering 95% of vertebral compression fractures and all patient morphologies. SpineJack technology benefits from the support of international scientific experts in the field of spine surgery and worldwide patent protection through to 2029.
Nom : VEXIM
Code ISIN: FR0011072602
Code mnémonique: ALVXM
1 Cf. segment reporting applied since VEXIM switched to IFRS consolidated financial statements.
2 Indicative date, subject to changes.
3 This medical device is a regulated health product that, with regard to these regulations, bears the CE mark. Please refer to the Instructions for Use.
José Da Gloria
Chief Financial Officer
Tél. +33 5 61 48 48 38
Caroline Carmagnol Wendy Rigal
Tél.: +33 1 44 54 36 66
Tél. +33 6 48 82 18 94