€4.7 million in sales, VEXIM continues to expand in all geographies

In Europe, Vexim's business continues to grow and the SpineJack® is becoming progressively the standard of care for vertebral fractures. In France, its domestic market, Vexim continues to grow and increase its market shares. In Germany, the biggest market in Europe (worth €70 million per year), Vexim increased the size of its salesforce to meet the growing demand of the market, for its products. With the addition of MasterflowTM Plus, Vexim's secondary product specifically designed for the German market and to address a large potential of patients suffering from osteoporotic compression fractures, Vexim also gained access to Clinicpartners, Agaplesion, AGKAMed and Paul Gerhard Diakonie, counting for 250+ clinics for Vexim to sell into. Vexim will furthermore initiate a clinical study in Germany where the Spinejack® will be more evidence based towards a wider range of indications to follow. In Germany, Vexim is then pursuing the objective of achieving €5.0 million of sales in 2017, and ranking among the top 3 market leaders in the country.

Italy will see Vexim grow to achieve a 20% market share position. With the approval by Sanitas in Spain, one of the largest insurance companies, Vexim expects to see a major step forward in its market expansion in 2017.

Outside of Europe, where sales in Q1 increased by 114% vs Q1 2016, Vexim continues to see growing interest in the SpineJack® technology. As previously announced, Vexim is in the process of launching SpineJack® products in Brazil, Australia and South Korea in the coming months. Since its launch in 2011, the SpineJack® has now been implanted to more than 46 000 patients which is close to 22 000 surgeries.

Confirmation of 2017 guidance

First quarter 2017 revenues are in line with Vexim's expectations. The group confirms his guidance for full year 2017 :

  • Sales growth of +30% to +35% (organic)
  • Positive operating and net income, throughout the full year
  • Sales of €5M Sales in Germany and rank among top 3 market leaders

Financial reporting schedule
2nd quarter sales: July 11th, 2017*
*(Indicative dates, subject to modifications)

Vexim SA published this content on 19 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 03 May 2017 09:58:18 UTC.

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