Gimv announces a CHF 28 Million Investment in Spineart
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The European investment company listed on Euronext Brussels is thereby becoming a major shareholder. These funds will be used to strengthen Spineart’s organisation and commercial processes, pursue its geographical expansion in certain markets such as the United States, and continue the development of innovative products.
Spineart is a rapidly growing Geneva-based medical device company. Specialising in simplifying surgical procedures, it designs, develops and promotes safe and effective solutions for spinal surgeons, operating theatre teams and patients. Spineart is a pioneer in its field, having introduced unique, patented and clinically validated technologies in the areas of mobility preservation, fusion, biology, minimally invasive surgery and fracture treatment. Spineart markets a complete range of sterile, barcoded implants and compact instrument ancillaries, promoting traceability, safety and cost-effectiveness in hospitals. In addition, the company provides highly efficient customer service and high-quality training for physicians.
Spineart was founded in 2005 by Frenchmen Jérome Levieux and Stéphane Mugnier-Jacob. Each with over 20 years of experience in the spinal industry, they co-manage the company. Over the past five years, the company has grown at an annual rate of 16%, reaching a total turnover of €34 million in 2015. Its goal is to continue and accelerate its expansion by strengthening its market share in Europe and the United States and entering new markets. The company currently employs around 100 people.
“Gimv is the partner we needed to take the next step. The experience of its Health & Care team in supporting fast-growing companies will help us achieve our ambitious goals. That is why we are very pleased to welcome them and particularly eager to write the next chapter in Spineart’s history together,” explain Jérôme Levieux and Stéphane Mugnier-Jacob, co-founders and co-CEOs of Spineart.
Peter Byloos, Partner in Gimv’s Health & Care team, adds: “Spinal surgery is an attractive global market offering numerous opportunities for players such as Spineart. In addition to its wide range of products and its brand recognition throughout Europe, the company stands out for its commitment to product innovation and the breadth of its R&D pipeline. We look forward to sharing our expertise in external growth and international operations with Spineart’s experienced management team. After EndoStim (US-NL), G-Therapeutics (CH) and Topas Therapeutics (GE), this is the fourth new investment by our Health & Care platform since the beginning of the year.”
Spineart also announced a strategic partnership with BIOBank, a French leader in bone allografts, aiming at improving access to high-quality allogenic bone substitutes for spine surgeons in France and Switzerland.
➡️ Source: Press Release | 📸 ©Spineart