Toulouse, France-based VEXIM reported its fourth quarter and full-year 2016 financial results. The company develops minimally invasive treatments for vertebral fractures.
Here are eight highlights:
1. In 2016, sales reached $19.8 million, up 33 percent from 2015.
2. VEXIM saw a 24 percent sales boost in Q4 2016, hitting $5.57 million.
3. VEXIM reported a 35 percent sales increase in Europe for 2016.
4. In France, the company leads the vertebral compression fracture treatment market. Compared to 2015, sales increased 48 percent in 2016 in France.
5. In the German market, sales increased 14 percent in 2016, compared to 2015.
6. Looking forward, VEXIM anticipates breaking even in 2017 to achieve a 30 percent to 35 percent sales increase.
7. In 2017, VEXIM will focus on developing new markets in Australia, South Africa and Brazil.
8. Since the technology's launch in 2011, VEXIM reported the sale of 42,300 SpineJack units, as of Dec. 31, 2016.