Safe Orthopaedics develops and markets sterile implants and single-use instruments, available for use at any moment, for the treatment of spinal fracture pathologies. Safe Orthopaedics sets itself apart from the more than 400 companies in the global market by its new generation of polymer instruments ensuring minimally invasive surgery, which is particularly effective in both emergency and ambulatory interventions for conditions such as fractured vertebrae.
In addition to its clinical advantages, Safe Orthopaedics’ technology helps eliminate 80% of the normal logistics associated with surgery, by removing the sterilisation process; reduces the cost of equipment needed for the treatment of fractures by 50%; and cuts the risk of infection and contamination relative to the use of traditional technologies using reusable instruments.
In order to strengthen our leadership in the spinal fracture segment still further, in the second half of 2018 we expanded our product portfolio with the marketing launch of SteriSpineTM VA, a vertebral augmentation balloon for the treatment of compression fractures caused mainly by osteoporosis, a condition that affects more than 20% of people aged over 50. This new system thus joins our SteriSpineTM PS range, which is protected by 17 families of patents. Since it came on the market, more than 13,000 surgical kits have been sold in 20 countries.
In the wake of the commercial success of our direct distribution in France – where we claimed 9% of the market in 2018 – we are investing in Germany and the UK to replicate these gains in market share. This direct distribution model enables us to generate solid and steady growth, whilst significantly improving our margins.
To introduce our technology in the largest international markets, such as Japan, the USA and China, we are developing a new partnership-based marketing strategy. In June 2018 we announced the signature of an exclusive marketing agreement with a leading Japanese company for the marketing and distribution of our products in the Japanese market.
In 2018 we had revenue of €3.5 million, an increase of 12%. After a stable first half which saw us develop our structures by strengthening, in both numbers and skills, our sales and marketing teams so as to accelerate direct distribution in France and Germany, we acquired our sales team in the UK. This strategy bore fruit in the second half of 2018, generating revenue growth of 24%.
Confident for 2019
Safe Orthopaedics is working to accelerate growth by drawing on a direct sales and marketing team of more than 22 people (up 80% compared to 2018) focusing on the joint promotion of our SteriSpine PS and VA technologies in France, Germany and the UK. The first surgical procedures in Japan, expected in the first half of this year, will also contribute to growth.
A technological leader in the management of spinal fractures, always ready to listen to feedback from surgeons, Safe Orthopaedics will continue to innovate and, from 2019, will offer new technologies in order to meet the fast-changing needs of treatment for these traumatic conditions. As older people become increasingly active, they are also increasingly affected by vertebral compression fractures as a complication of osteoporosis. For example, a woman who has already suffered from at least 2 fractures has a 7 times greater risk of a new fracture within a year. Improving the management of such conditions is a challenge for the coming years.
Safe Orthopaedics’ technology also addresses a financial challenge for our industry: by replacing costly minimally-invasive reusable instruments with optimised single-use technologies, we enable a significant reduction in the investment needed by each client.
By meeting the technological and financial challenges of the market for spinal fracture treatments, our aim is to make our innovative technologies available in a large number of hospitals in order to give an ever larger number of patients access to the benefits of minimally-invasive surgery, whilst also ensuring solid sales growth for Safe Orthopaedics with a low level of cash burn.