Stryker Corporation has announced that it has acquired control of VEXIM, a French medical device company listed on the Euronext Growth stock exchange in France.
VEXIM, headquartered in Balma, France, specialises in the development and sale of vertebral compression fracture (VCF) solutions. The company’s flagship product is the SpineJack® system, a mechanical expandable VCF implant for fracture reduction and stabilisation. The VEXIM portfolio is complementary to the Interventional Spine (IVS) business of Stryker’s Instruments division whose key products include a portfolio for vertebral augmentation, vertebroplasty and radiofrequency ablation procedures, along with a diagnostic tool and decompression treatment advances for contained disc herniations. VEXIM had sales of €18.5M in 2016, which was 33 per cent growth over 2015 revenue.
VEXIM has a direct sales force in Europe with sales in France, Germany, Spain, and Italy and an international distribution network in selected countries in Eastern Europe, Middle East, Latin America and Asia. The SpineJack product will be sold in the US upon receiving 510(k) clearance. VEXIM anticipates filing for clearance in 2018.
The transaction is expected to close in the fourth quarter of 2017.
