Safe Orthopaedics publishes its results for the first half of 2020 with an improvement of 20% in the operating income - Seite 2

Even if the financial measures proposed by the government have been implemented, the company’s expenses have been strongly reduced, leading to a decrease of purchases used and external costs of more than 1,4M€, allowing the company to show an improvement of its ROC of more than 20%, -3,2M€ vs. -4M€ in June 2019, despite the sales decrease.

As at June 30, 2020, the cash position of Safe Orthopaedics amounted to 3M€, vs. 1,1M€ as at June 30, 2019.
As a reminder, on July 24th, 2020, the company acquired LCI Medical, a sub-contracting company for the manufacturing of medical devices, thus constituting the first integrated group for the urgent treatment of vertebral fracture through ready-to-use technologies.

“In this so peculiar period, we were able to limit the impact of Covid-19 on the sales of Safe Orthopaedics and to preserve the financial resources of the company while achieving an historical acquisition transaction for the Group, by acquiring a production asset opening new innovative and services perspectives.”  Pierre Dumouchel, Chief Executive Officer and co-founder of Safe Orthopaedics comments. “Through the acquisition of LCI Medical, the establishment of the Group Safe Orthopaedics takes on its full meaning through the first synergies set up as early as October, notably with the centralization of operations in the Lyon region and the accelerated launch of new technologies in the coming six months. The announcement of the establishment of the Group allowed to attract new foreign customer thanks to the proposed integrated offer.”
  
Next financial release: revenues for the 3^rd quarter of 2020, Thursday October 8 (after market)

About Safe Orthopaedics
Founded in 2010, Safe Orthopaedics is a French medical technology company, a pioneer of the design and marketing of innovative ready-to-use technologies (single-use implants and instruments) for spinal fractures treatments. The company develops and manufactures kits combining sterile implants and single-use instruments, available at any time for the surgeon. These technologies enable minimally invasive approach, reducing the risk of cross contamination and infection, in the interest of the patient with a positive impact on hospitalization durations and costs. Protected by 17 patent families, the SteriSpineTM PS are CE marked and FDA approved. Safe Orthopaedics has its headquarters close to Paris (95610 Eragny-sur-Oise – France) has subsidiaries in the UK, Germany, United States and in the Lyon area where the manufacturing company is located. The Group employs around 150 employees for total proforma sales of 6.8M€ in 2019.