SpineGuard announces full-year financial results for 2015

SpineGuard recently reported its full-year financial results for 2015.

According to a company release, sales increased by 43% to 6.3 million euros. The company’s reported net loss was reduced 0.7 million euros to -3.9 million euros. In addition, SpineGuard secured 10.5 million euros in financing. The company’s gross margin was 84.5% on Dec. 31, 2015 compared with a gross margin of 85.2% for the previous year.

The company received a CE mark for the PediGuard Threaded device with dynamic surgical guidance (DSG) technology and the first surgeries with the product occurred during the fourth quarter, according to the release. The company also noted the Chinese Food and Drug Administration cleared the Classic PediGuard in China, and SpineGuard is selecting local distributors.

“Whether you look at sales, financing or strategic achievements, 2015 was an excellent year for SpineGuard,” Pierre Jérôme, chief executive officer and co-founder of SpineGuard, said in the release. “The growth in the [United States of America] USA, Europe and Japan, as well as the regulatory approval in China, continue to validate the outstanding clinical value of the PediGuard range. Our dynamic surgical guidance technology is now successfully integrated into the spinal implant itself thanks to the fruitful collaborations with our partners, Neuro France and Zavation. The CE-marking and successful first surgeries with DSG screws are opening opportunities with great prospects for us.”

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