03 Jun Spineway signs a Memorandum of Understanding for the acquisition of the Distimp start-up
Spineway, specialized in innovative implants for the treatment of severe disorders of the spinal column (spine), signed a Memorandum of Understanding for the acquisition of 100% of the capital – subject to conditions precedent being met – of Distimp, a European start-up with which the Group began exclusive negotiations last March.
Distimp, based in Nîmes, is specialized in the design, manufacture and sale of implants and instruments for spinal surgery. Its founder, Fabrice Paccagnella, lends the company his solid experience gained from working in the spinal field designing and developing implants and instruments for over 25 years, giving him access to a large network of spinal surgeons, particularly in France and in Europe. The company has several lines of innovative products for spinal surgery that it sells directly in France and via distributors internationally.
In line with the Group’s growth strategy, this acquisition will allow Spineway to consolidate its product range and strengthen its positions in Europe, particularly in France, by making a wider variety of operating techniques with high added value available and made for spinal surgeons.
This acquisition will be entirely financed in cash2 and Mr. Fabrice Paccagnella will be integrated within the Group as from the final signature of the agreement, which should take place by the end of June.
Upcoming: 2021 half-year revenue – 13 July 2021
SPINEWAY IS ELIGIBLE FOR THE PEA-PME (EQUITY SAVINGS PLANS FOR SMES)
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).
ISIN: FR0011398874 – ALSPW
SOURCE: Globe Newswire, 1st June 2021