SpineGuard's 2013 revenue grows 20% to €4.6 million in line with expectations

In 2013, SpineGuard recorded revenue of €4,615 thousand, a +20% CC growth vs. full-year 2012, in line with the Company's expectations. Revenue totaled €3,369 thousand (+19% CC) in the United States and €1,247 thousand (+22% CC) in the rest of the world representing 3,142 and 3,166 units sold, respectively, and a total of 6,308 PediGuard. 30,000 surgical procedures have been performed with PediGuard since its introduction.
An intense year in terms of breakthroughs and achievements
Since its IPO in April last year, SpineGuard has continued to successfully execute according to its roadmap, making significant breakthroughs on the way:
United States: The Company's geographical coverage was expanded with an additional 20 agencies, the sales management team was strengthened and multiple training and marketing actions were deployed. PediGuard is now used in over 20% of back-surgery teaching institutions that have adopted it in their curriculum. Furthermore, the FDA (Food & Drug Administration) has granted 510k clearance for the PediGuard's new Classic XS and Curved XS PediGuard versions and has also cleared all the modifications applied to existing versions.
Rest of the World: The Company appointed another seasoned experienced sales manager to intensify the running of the numerous distributors across the world and their development. The Company received regulatory approval for the PediGuard in Russia (for the entire family of products), Mexico (Cannulated, Curved & Curved XS) and Japan (Classic; Curved & the new XS versions) with the notable adoption of its technology by leading spine surgeons of the Kobe University Graduate School of Medicine.

Pierre Jérôme, CEO and co-founder of SpineGuard, said: "We are pleased with the revenue recorded in 2013; it is in line with our expectations. The growing recognition of PediGuard's clinical-economic value amongst spine specialists around the world further increases our confidence in our ability to achieve our vision of establishing our technology as a standard of care for making spine surgery safer. 2013 not only saw the success of our IPO, but also the realization of significant breakthroughs, notably in R&D, clinical studies, regulatory approvals and marketing. We envision with confidence the continuous deployment of our roadmap in 2014 and the creation of value expected by our shareholders, clients, staff and partners."

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