SpineVision®, a commercial-stage medical device company that designs, develops and markets products for the surgical treatment of spine disorders, announced in January that its product sales for 2013 increased to €10.5 million, an increase of 27% compared with 2012.
The company cited three major developments in 2013 that helped grow sales:
- A cash infusion of €7.5 million from new and existing investors, which provided growth capital for expansion of commercial operations into the US market while growing commercial activities in Europe;
- Sales doubled in the US with the launch of ULISTM and LUMISTM systems; and,
- Expansion of the Flex+2™ dynamic stabilization platform with addition of the prebent Flex+™2 for use in hybrid cases.
“We are extremely proud of our financial results for 2013. Not only are we selling our products in the US and throughout Europe, but also we have expanded our product offerings and have extended our presence in South America and especially Brazil, where there is very significant opportunity for SpineVision,” said Arnaud Brisard, CEO. “Looking forward, we fully expect that SpineVision is strongly positioned to continue double-digit sales growth in 2014.”
