Vexim Accelerates Its European Development by Establishing a Subsidiary in the UK
TOULOUSE, France--(BUSINESS WIRE)--Feb 11, 2013--Regulatory News: Vexim (Paris:ALVXM) (FR0011072602 – ALVXM), a medical device company specializing in minimally invasive treatment of vertebral fractures, today announces the establishment of a new subsidiary, VEXIM UK Ltd that will enable the company to expand its European network and accelerate commercialization of the SpineJack® product range.
“The UK market for minimally invasive treatment of vertebral fractures is ranked among the Top 5 in Europe. Setting up a subsidiary there will strengthen our business development and allow Vexim to promote SpineJack® to private and public healthcare institutions in the UK. Vexim enters this important new market following the establishment of subsidiaries in Germany, Italy and Spain over the past few months,” says Vincent Gardès, CEO Vexim. Vexim will now have direct sales subsidiaries in all of the top 5 European markets.
Vexim has already recruited John Sorzano as Business Director of Vexim UK Ltd. John Sorzano has broad experience in minimally invasive spine surgery and medical devices (COVIDIEN – TYCO Healthcare Ltd), along with sales and marketing skills in all spinal indications (trauma, scoliosis and degenerative pathologies). In addition to his work in sales and marketing, he has also established training programs for healthcare professionals and launched a new product for scoliosis treatment.
The establishment of a new UK subsidiary as early as January 2013 helps Vexim to realize its commercial development program ahead of schedule as direct sales coverage for the five main European markets was originally expected by late 2013.
Vexim has built a strong base that will help accelerate the IPO growth strategy with the aim of becoming the European leader in innovative back microsurgery.
About Vexim, the innovative back microsurgery specialist Based in Balma, near Toulouse (France), Vexim is a medical device specialist created in February. The Company has specialised in the creation and marketing of mini-invasive solutions for treating traumatic spinal pathologies. Benefitting from the financial support of its longstanding shareholders, Truffle Capital 1 and Banexi Venture, and from OSEO public subsidies, Vexim has designed and developed the SpineJack®, a unique implant capable of repairing a deformed or fractured vertebra and correcting the anatomy of the spinal column. The Company currently has 40 staff. It has its own sales teams in France, Germany, Italy, Spain, Switzerland and the United Kingdom, as well as distributors in Turkey, Argentina and South Africa. Vexim has been listed on NYSE Alternext Paris since 3 May 2012.
For further information, please go to www.vexim.com SpineJack®, a revolutionary implant for treating Vertebral Compression Fractures The revolutionary aspect of the SpineJack® lies in its ability to restore a fractured vertebra to its original shape, restore the spinal column’s optimal anatomy and thus remove pain and enable the patient to recover their functional capabilities. Thanks to a specialized range of instruments, inserting the implants into the vertebra is carried out in a mini-invasive manner, guided by X-ray, in approximately 30 minutes, enabling the patient to be discharged shortly after surgery. The SpineJack® range consists of 3 titanium implants with 3 different diameters, thus covering 95% of vertebral compression fractures and all patient morphologies.
SpineJack® technology benefits from the support of international scientific experts in the field of spinal columns, good medical-expense reimbursement systems in Europe and worldwide patent protection through to 2029.
Name: Vexim ISIN Code: FR0011072602 Ticker: ALVXM 1 Founded in 2001 in Paris, Truffle Capital is a leading independent European private equity firm. It is dedicated to investing in and building technology leaders in the IT, life sciences and energy sectors. Truffle Capital manages €550M via FCPRs and FCPIs, the latter offering tax rebates (funds are blocked during 7 to 10 years). For further information, please visit www.truffle.com and www.fcpi.fr.