29 Jun Accomplishment of the 1st stage of the external growth strategy – Confirmation of DISTIMP acquisition
Press Release Ecully, 28 June 2021 – 6:00pm
Acquisition of the company Distimp confirmed
Spineway, specialist in innovative implants for the treatment of severe vertebral column (spine) disorders, announces the final signing to acquire 100% of the capital of Distimp, a French player in the spine surgery implants sector.
This acquisition is part of the Group’s growth strategy and allows Spineway to expand its products and services to provide a wider range of implants and instruments for the treatment of severe spinal disorders, as well as new operating techniques with high added value for surgeons. This move will also enable the Group to strengthen its commercial positions, particularly in France, by accessing Distimp’s extensive network of spine surgeons.
As announced, this acquisition is fully paid in cash and sees the integration of Mr Fabrice Paccagnella, President of Distimp, into the Spineway staff to oversee this new subsidiary’s sales and development in the implant ranges.
Stéphane Le Roux, CEO of Spineway, stated: “We are thrilled to join the company Distimp, which means we can benefit from its founder’s experience of more than 25 years in the spine sector and offer our clients new solutions in terms of spine surgery. The commercial synergies and products that we will put in place will also allow us to strengthen our presence on the domestic market. This acquisition marks the accomplishment of the 1st stage in our ambition to build a European benchmark player in the spine sector”.
Fabrice Paccagnella, President of Distimp, commented on the acquisition: “I am delighted to have joined forces with with the Spineway group. The perfect complementarity between our sales networks and our products opens up new growth prospects with the distribution of original and innovative product ranges. I look forward to being part of the Spineway teams and to participate in the Group’s growth”.
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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 over 50 independent distributors and 90% of its revenue comes from exports.
Spineway, which is eligible for investment through FCPIs (French unit trusts specializing in innovation), has received the OSEO Excellence award since 2011 and has won the Deloitte Fast 50 award (2011). Rhône Alpes INPI Patent Innovation award (2013) – INPI Talent award (2015).
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SOURCE: Globe Newswire, 28th June 2021