Vexim Announces 2016 and 4Q16 Revenue
Vexim posted 2016 revenue of €18.5MM (~US $19.8MM), +33% vs. 2015, with 4Q16 revenue of €5.2MM (~$5.6MM), +24% vs. 4Q15.
The company claims a 10% share of the European spinal trauma market. Sales in Europe grew +35% vs. 2015, with France +48% and Germany +14%. Finally, double-digit growth was noted in Latin America, the Middle East and Asia. The company has filed for registration in Brazil, and expects approval in coming months.
Since its launch in 2011 to the end of 2016, Vexim has sold 42,300 units of the SpineJack® vertebral fracture repair device, with >20,000 patients treated. This is an increase from the beginning of 2016, when the company marked the milestone of 25,000 SpineJack units sold since 2011.
For 2017, Vexim is estimating sales growth of +30% to +35% over 2016 and anticipating the development of new markets such as Australia, Brazil and South Africa.