PARIS & SAN FRANCISCO–(BUSINESS WIRE)–Regulatory News:

SpineGuard (FR0011464452)(Paris:ALSGD), an innovative company that develops and markets disposable medical devices designed to make spine surgery safer, announced:

• First-half global revenue growth of 16% (13% cc) to €4.2M, compared with €3.6M in the first half of 2016;
• The appointment of Stéphane Bette, co-Founder, CTO and US General Manager, as CEO of the company effective on July 13^th; Pierre Jérôme, who has served as CEO since the company’s founding, will continue to serve as Board Director of the company;
• The implementation of a profitability plan to reach monthly breakeven by the end of 2018.

Unaudited

Global revenue in the second quarter of 2017 increased 8% on a reported basis and 6% at constant exchange rate (cc). In the first half, global revenue increased 16% (13% cc) to €4,199k, compared with €3,633k in the first half of 2016.

In the first half of 2017, 4,264 DSG units were sold compared with 4,351 in the first half of 2016, including 2,589 (61%) in the United States, where revenue grew 19% (15% cc) to €3,397k in the first half of 2017 compared with €2,866k in the same period last year.

Appointment of Stéphane Bette, Co-founder, as CEO

The Board of Directors has appointed Stéphane Bette, its US General Manager, CTO and co-Founder, as CEO of SpineGuard SA in succession of Pierre Jérôme, who continues to serve as a Board Director of the company.

Stéphane brings more than 20 years of experience in the spinal industry to the role. He co-founded the company and has led the US operations since 2009 while also retaining his role as Chief Technology Officer during this period. Prior to this, Stéphane spent 10 years at SpineVision, a private spine company, in a number of roles, ending as US General Manager. He started his career at Sofamor Danek in the 1990’s, prior to its acquisition by Medtronic. Stéphane received a Master’s degree in Mechanical Engineering from ENSAM, France, and a Postgraduate Degree in Biomechanics from LBM in Paris, France.

“The Board is very pleased to appoint Stéphane as CEO to lead the company through its next stage of growth,” said Alan Olsen, Chairman. “He has led the company’s increasingly important US operations since 2009 as well as overseen the development of SpineGuard’s core DSG™ technology platform. He is a natural successor to his co-Founder Pierre Jérôme, whom we warmly thank for his leadership of the company over the past 8 years. Under Pierre’s stewardship, SpineGuard has grown from a one-product company with €1 million in sales, through multiple fund-raising rounds, including an IPO in 2013, to the strong position it is in today. We are very pleased to have Pierre continue his association with the company in his role as Director with a particular focus on strategic and business development initiatives.”

“SpineGuard is a high-performing company with a cohesive team and a unique technology in DSG™”, Stéphane Bette commented. “We delivered double-digit growth this first half of the year in a context where we are preparing for the US launch of our smart DSG™ screw. I look forward to intensifying SpineGuard’s focus on leveraging our core DSG™ platform through additional deals in spine and other musculoskeletal segments while continuing to grow our organic sales, capitalizing on our strong commercial, marketing and clinical foundations and rebalancing the organization. In order to reach financial freedom, we have set a specific goal that SpineGuard reaches breakeven by the end of 2018 and then profitability.”

Pierre Jérôme concluded: “After driving SpineGuard with close support from Stéphane since its inception, I am particularly glad to hand over the baton to him now – when momentum is building for the company with sustained growth, promising perspectives in China and the further deployment of our DSG™ technology platform in spine and dental through our partnership strategy. This smooth transition will provide continuity for our employees, customers and partners.”

Business focus for 2017 and 2018

To reach breakeven by the end of 2018, SpineGuard will concentrate its efforts on:

• Signing new industry partnerships for expanded commercial applications of its proprietary digital DSG™ technology within the spinal and broader musculoskeletal sector to trigger new sources of revenue;
• Growing its worldwide sales with a primary commercial focus on the US market which accounts for close to 80% of revenues;
• Implementing a profitability plan to right size its organization, capitalizing on its strengths and leveraging its cutting-edge proprietary DSG™ platform.

Next financial press release: 2017 Half-year financial results on September 14, 2017

About SpineGuard®

Founded in 2009 in France and the USA, by Pierre Jérôme and Stéphane Bette, SpineGuard’s mission is to make spine surgery safer by bringing real-time digital technology into the operating room. Its primary objective is to establish its proprietary DSG™ (Dynamic Surgical Guidance) technology as the global standard of surgical care, starting with safer screw placement in spine surgery and then in other surgeries. PediGuard®, the first device designed using DSG, was co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D., and Alain Vanquaethem, Biomedical Engineer. It is the world’s first and only handheld device capable of alerting surgeons to potential pedicular or vertebral breaches. Over 50,000 surgical procedures have been performed worldwide with DSG™ enabled devices. Numerous studies published in peer-reviewed medical and scientific journals have demonstrated the multiple benefits that PediGuard® delivers to patients, surgical staff and hospitals. SpineGuard is expanding the scope of its DSG™ platform through strategic partnerships with innovative medical device companies and the development of smart instruments and implants. SpineGuard has offices in San Francisco and Paris. For further information, visit www.spineguard.com.

Disclaimer

The SpineGuard securities may not be offered or sold in the United States as they have not been and will not be registered under the Securities Act or any United States state securities laws, and SpineGuard does not intend to make a public offer of its securities in the United States. This is an announcement and not a prospectus, and the information contained herein does and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in the United States in which such offer, solicitation or sale would be unlawful prior to registration or exemption from registration.

LYON, France & NEW YORK–(BUSINESS WIRE)–The Medicrea Group (ISIN : FR0004178572 – ALMED, eligible to PEA-PME), pioneering the convergence of healthcare IT and next-generation, outcome-centered device design and manufacturing with UNiD™ ASI technology, announced today the successful capital increase for the benefit of a specific category of beneficiaries through the accelerated construction of an order book.

Due to strong investor demand, the Company issued 2,680,413 new shares with a nominal value of € 0.16 per unit, at a unit price of € 4.85, including issue premium, for a total amount of € 13 million, compared to approximately € 10 million originally planned, representing 21.08% of the Company’s share capital after the transaction (the ‘Action’).

As an indication, the participation of a shareholder holding 1% of the share capital of the Company prior to the issue will become 0.79%.

The funds will be raised from international funds and / or investment companies carrying out multinational financial transactions in several, in support of Medicrea’s efforts:

1 / To accelerate the development, mainly in the United States, of the UNiD™ ASI platform to enable the Company to strengthen its position as a pioneer and world leader in personalized spinal technology, which includes comprehensive analytical services and biomechanical expertise for the collection and modeling of clinical data and the realization of patient-specific spinal implants; and

2 / To prepare for the commercialization of a new range of 3D-printed titanium interbody cages in the United States and Europe in preparation of pending regulatory clearances and sales agreements.

The proceeds of the capital increase associated with the current liquidity available should enable the Company to meet its future financial commitments over the next 18 months.

The Action was implemented by decision of the Board of Directors on 15 June, 2017 and the Chairman and Chief Executive Officer on 16 June, 2017, pursuant to the 9^th Resolution approved by of the Combined Shareholders’ Meeting of May 11, 2017, at a price representing a discount of 9.94% compared to the volume-weighted average of the last twenty trading days preceding the decision of the Chief Executive Officer (€ 5.35) and 4.53% compared to the closing price of June 16, 2017 (€ 5.08).

The capital increase is carried out through the issuance of ordinary shares without preferential subscription rights in favor of a category of beneficiaries. The settlement of the new shares issued in connection with the capital increase and their admission to the Euronext Growth Paris exchange with Euronext Paris is scheduled for June 22, 2017. The new shares will bear current rights and will be admitted to trading on the Euronext Growth Paris exchange under ISIN code FR0004178572 – ALMED. The share capital of Medicrea will comprise 12,713,480 shares at the end of the settlement period. Thus, after the capital increase, the Company’s share capital has significantly changed. Post transaction, the holding of Orchard International and its executives is 19.17% of the total capital and the free float is 80.83%.

Midcap Partners acts as Lead Partner & Bookrunner of the Action.

EuroLand Corporate acted as a consultant to the Company.

In accordance with the provisions of Article 211-3 of the General Regulation of the AMF (Autorité des Marchés Financiers), the offer of the Company’s shares in connection with this capital increase for the benefit of a specific category of beneficiaries did not give rise to a submitted prospectus for the approval of the AMF. Detailed information about the Company, including its business activities, results and related risk profile, can be found in the Annual Financial Report for the year ended December 31, 2016, which is available for consultation, as well as other regulated information including press releases, on the Company’s website (www.medicrea.com).

Next financial publication: Sales for the 1st half of 2017: July 11, 2017, after market.

About Medicrea (www.Medicrea.com)

Through the lens of predictive medicine, Medicrea leads the design, integrated manufacture, and distribution of 30+ FDA approved implant technologies, utilized in over 100k spinal surgeries to date. Operating in a $10 billion marketplace, Medicrea is an SME with 175 employees worldwide, which includes 55 at its USA Corp. subsidiary in NYC. The Company has an ultra-modern manufacturing facility in Lyon, France housing the development and production of 3D-printed titanium patient-specific implants.

By leveraging its proprietary software analysis tools with big data and machine learning technologies supported by an expansive collection of clinical and scientific data, Medicrea is well-placed to streamline the efficiency of spinal care, reducing procedural complications and limiting time spent in the O.R.

For further information, please visit: www.medicrea.com.

Connect with Medicrea:
FACEBOOK | INSTAGRAM | TWITTER | WEBSITE | YOUTUBE

Medicrea is listed on
EURONEXT Growth Paris
ISIN: FR 0004178572
Ticker: ALMED

Caution

This press release is for informational purposes only. This press release does not constitute and cannot be regarded as an offer for public subscription or a solicitation of an interest in the public offering of financial securities. Dissemination of this press release in certain countries may constitute a violation of the legal provisions in force. The information contained in this press release does not constitute an offer of securities in France, the United States, Canada, Australia, Japan or any other country.