Eragny-sur-Oise, July 27, 2015 – SAFE ORTHOPAEDICS (Euronext: FR0012452746 – SAFOR), a company offering innovative ranges of sterile implants combined with their single-use instruments
for back surgery, today announces the completion of an issue of new shares and bonds convertible into shares for a total amount of approximately €3.2 million, fully subscribed by investment funds managed by Idinvest Partners.
The proceeds of the issue will provide the Company with additional resources to finance the acceleration of its commercial expansion and its Research & Development program.
Yves Vignancour, Chief Executive Officer of Safe Orthopaedics, commented: “We are delighted to announce the raising of these funds and wish to thank Idinvest Partners, our longstanding shareholder, for showing its continued trust in us and support. We intend to capitalize on the rapid adoption of our products and this fundraising by accelerating our business development and continuing to launch new products. Complementing our two latest innovations – the new fenestrated screw for osteoporosis sufferers and the Auto-Adjust implant to treat spinal fractures – our next product range should enable us to establish our presence in the cervical surgery segment as from 2016.”
Benoist Grossmann, Managing Partner at Idinvest Partners stated: “This milestone reflects our desire to continue our collaboration with Safe Orthopaedics. In our view, Safe Orthopaedics has the potential to become a new market leader in back surgery given its unique innovations and the tremendous experience of its management team.”
About Safe Orthopaedics
Founded in 2010, Safe Orthopaedics is a French medical technology company that develops and markets an innovative range of sterile implants and associated single-use surgical instruments, with the aim of facilitating safer, optimized and lower-cost spinal surgery. By avoiding the reuse of surgical instruments, Safe Orthopaedics reduces the risk of infection, avoids the cumbersome and unreliable logistics of instrument sterilization, and limits hospital costs. Protected by 17 patent families, the company’s CE-marked and FDA-approved SteriSpineTM kits are already being marketed in 12 countries, in Europe and the United States. They are being rapidly adopted by surgeons throughout the world, with nearly 1,000 procedures performed in 2014 and 1,143 in the first half of 2015 alone. The company is based at Eragny‑sur‑Oise (France), and has 33 employees and a US subsidiary.
For more information, visit: www.SafeOrtho.com