Gimv provides EUR 30 million of growth equity to fast-growing medical device company Spineart
Spineart today announces that it secured a EUR 30 million investment from Gimv, which thus becomes an important shareholder in the company. These proceeds will be used to reinforce the company’s sales organization and processes, for further geographical expansion in selective markets such as the US, as well as for continued development of innovative and disruptive products.
Spineart (www.spineart.com) is a fast-growing Swiss medical device company focused on simplifying spinal surgery by designing, developing and promoting safe and efficient solutions to surgeons, operating room teams and patients. Spineart is a pioneer in its field, having introduced unique patented and clinically validated technologies in the fields of motion preservation, fusion, biologics, minimally invasive surgery and fractures treatment. Spineart markets a complete portfolio combining traceable barcoded sterile packed implants with compact instrument sets, thus promoting greater safety, cost-efficiency, and compliance at the hospital. On top it offers strong customer service as well as high-quality training to physicians.
The company was co-founded in 2005 by Jérome Levieux and Stéphane Mugnier-Jacob, who both have over 20 years’ experience in the spine industry and co-lead Spineart. Over the past five years, Spineart grew by 16% on a yearly basis to reach a worldwide turnover of EUR 34 million in 2015. The goal for the coming years is to continue and further accelerate its expansion, by growing its market share in Europe and the US as well as by entering new markets. The company currently employs about 100 FTEs.
"Gimv is the partner we need to reach the next level. Its Health & Care team’s experience in accompanying fast growing companies will help to reach Spineart’s ambitious goals. Therefore, we are very pleased to have them on board and are excited to write together the next chapter in Spineart’s history," said Jérôme Levieux and Stéphane Mugnier-Jabob, co-founders and co-CEOs of Spineart.
Peter Byloos, Partner in Gimv’s Health & Care team, comments: “Spine surgery is an attractive global market offering plenty of room for challengers such as Spineart. Next to its broad product portfolio and recognized European brand, the company differentiates itself by a strong focus on product innovation and full R&D pipeline. We look forward to share our expertise in the field of Building Companies and International Operations with Spineart’s experienced and committed leadership team. After EndoStim (US-NL), G-Therapeutics (CH) and Topas Therapeutics (GE) this is the fourth new investment of our Health & Care platform since the beginning of the year.”
 Joint-investment by Gimv and the Gimv Health & Care Fund