Congrats to Spineway !
Spineway was founded in 2005 in Lyon France. Spineway is typical of hundreds of “me-too” spine companies that have no chance of success, ever. They have no financial leverage left. They cannot go public again. My guess is that this was an idea for better spine products at one time that never turned into a viable business.
Spineway’s just issued 2023 financials show that they sold $11M in gross revenue annually, in their 19th year of existence. But posted a loss of ($7M), so it costs them $18M in expenses to generate $11M in sales.
Seriously, you and I could do better by opening up a donut shop.
History from their website – https://spineway.com/
As an independent French company created in Lyon in 2005, Spineway designs, develops and markets implants and instruments for spine surgery. Since its creation, Spineway has developed around ten product ranges to meet the needs of the most common surgeries, but also to offer solutions for less frequent pathologies: Treatment of degenerative spine pathologies, treatment of spinal deformity of adults and young children, minimally invasive treatment of fractures.
As a human scale company, Spineway is keen to see its employees give the best of themselves, flourish and put their expertise to good use in the service of healthcare professionals.
In 2021, Spineway acquires the French company Distimp and its product lines. A new opportunity for Spineway to affirm its desire to be recognized by ensuring the promotion and development of surgical techniques acclaimed by many French and international surgeons.
Historically focused on the international market, its new product ranges now give new impetus to Spineway Group on the French market.