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Strategic Initiatives

Spineway Making Acquisition in Latin America -

Spineway confirmed acquisition of an equity stake in Integral Medical Solutions (IMS), a holding company that manages private hospitals in Latin America. The stake, as well as a pending partnership and distribution agreement with IMS and its affiliates, supports Spineway's position in the region which represented 50% of its 2018 sales and opens the door to expansion in the African continent, as well. IMS owns three hospitals in Columbia, and manages a network of hospitals in Africa. Within four years, Spineway will have the option to increase its stake to 52% of IMS' capital, and holds a promise of sale allowing for acquisition of all of IMS' capital in five years. Spineway expects that these first steps toward large-scale vertical integration could create a new group worth over €80MM in revenue, based on 2018 figures. In conjunction with this project, Spineway is pursuing a strategy to redeploy its activities in the U.S. (Spineway, 5/16/19)