Press release
Ecully, December 6, 2024 - 6 p.m.
Spineway provides an update on its activities during a webinar
Arrival of a new CFO
The Spineway Group, a specialist in innovative implants for the treatment of severe spine disorders, held a webinar on Thursday, December 5, during which Stéphane Le Roux, CEO of Spineway, reviewed the Group's latest developments and confirmed its roadmap for the coming years.
The webinar was also an opportunity to present the Group's new Chief Financial Officer, Erwan Martin, who joined Spineway at the beginning of November. A graduate of the TBS Education Management School (Toulouse, France) and holder of an MBA from Warwick University (England), Erwan has more than 20 years of experience as a Chief Financial and Administrative Officer in the medtech and biotech sectors, leading finance teams in companies ranging from start-ups to multinationals, both listed and unlisted.
Key achievements in 2024
Since the beginning of 2024, Spineway has been working to roll out its Premium ranges, training over 300 surgeons of various nationalities and taking part in some 15 international spine conferences and trade shows. The Group has also continued its regulatory efforts, which have already been rewarded with 13 new export approvals and 12 CE-marked technical documents, including 5 under the new Medical Device Regulation (MDR).
In conjunction with these developments, Spineway has implemented, as announced, a savings plan. Its effects, already reflected in the results for the first half of 2024, should continue in the second half of 2024. Spineway also provided an update on the Negma convertible bond (OCA), issued in May 2023,1 which will finance a large part of the Group's developments.
2025-2028 roadmap confirmed
During the update, Spineway confirmed its strategy for the coming years, with the aim of returning to profitable growth, notably in order to self-finance its developments. To achieve this, the Group will continue to optimize its costs, increase its market share in key geographies, and improve its logistics flows and information system - via the implementation of an ERP system - in order to increase its operational efficiency.
The Group also intends to pursue its innovation projects, maintaining its investments to launch a new ESP disc prosthesis, expanding its arthrodesis2 ranges and developing digital solutions to support surgeons in their surgical procedures.
Spineway also plans to make structural changes, such as increasingly insourcing part of its product manufacturing in order to be more flexible and improve margins. It also still aims to sell its products in the US market.
With its roadmap well underway, the Spineway Group will continue to invest in 2025 in order to pursue its growth and support future developments.
The Webinar presentation is available on the Spineway website.
Click here to view the Webinar replay
Next event:
January 22, 2025 - Full-year 2024 revenue
SPINEWAY IS ELIGIBLE FOR PEA-SME (EQUITY SAVINGS PLANS FOR SMES)
Find out all about Spineway at www.spineway.com
This press release has been prepared in both English and French. In case of discrepancies, the French version shall prevail.
Spineway designs, manufactures and markets innovative implants and surgical instruments for treating severe disorders of the spinal column.
Spineway has an international network of independent distributors and derives more than 70% of its revenue from exports.
ISIN: FR001400BVK2 - ALSPW
Contacts:
SPINEWAY Shareholder-services line Available Tuesday through Thursday +33 (0)806 706 060 | AELIUM FINANCE Investor relations Solène Kennis spineway@aelium.fr |
1 Press release of May 25, 2023
2 Also known as spinal fusion, a surgical procedure to join two or more vertebrae together to treat a back problem
