SpineGuard Exits Chapter 11
25 August 2021 - 4:00PM
Business Wire
Regulatory News:
SpineGuard (FR0011464452 – ALSGD) (Paris:ALSGD), an
innovative company that deploys its DSG® (Dynamic Surgical
Guidance) sensing technology to secure and streamline the placement
of bone implants, announced today that as a result of the hearing
held yesterday, August 24, 2021, the United States Bankruptcy Court
for the District of Delaware entered an order confirming SpineGuard
Inc.’s exit from Chapter 11.
The plan of reorganization proposed by SpineGuard, calling for
payment in full of all creditors including the bond holders, is now
effective and Spineguard Inc. is no longer a debtor-in-possession
in a bankruptcy case.
SpineGuard is focused on the following priorities while striving
to remain close to breakeven:
- Boost commercial activities with the launch of the DSG-Connect
visual interface.
- Accelerate the implementation of the DSG digital technology in
ortho-robotics through the deployment of AI algorithms, new
scientific evidence, and additional patents.
- Intensify the collaboration with ConfiDent ABC for the dental
application and co-develop a new generation of products embedding
the DSG technology.
- Affirm the company’s technological shift and sign strategic
partnerships in particular for the use of DSG technology in the
robotic field.
Next financial press release: 2021 Half-year financial
results on September 15, 2021
About SpineGuard® Founded in 2009 in France and the USA
by Pierre Jérôme and Stéphane Bette, SpineGuard is an innovative
company deploying its proprietary radiation-free real time sensing
technology DSG® (Dynamic Surgical Guidance) to secure and
streamline the placement of implants in the skeleton. SpineGuard
designs, develops and markets medical devices that have been used
in over 85,000 surgical procedures worldwide. Seventeen studies
published in peer-reviewed scientific journals have demonstrated
the multiple benefits DSG® offers to patients, surgeons, surgical
staff and hospitals. Building on these solid fundamentals and
several strategic partnerships, SpineGuard has expanded its
technology platform in a disruptive innovation: the « smart »
pedicle screw launched late 2017 and is broadening the scope of
applications in dental implantology and surgical robotics. DSG® was
co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D.,
and Alain Vanquaethem, Biomedical Engineer. For further
information, visit www.spineguard.com
Disclaimer The SpineGuard securities may not be offered
or sold in the United States as they have not been and will not be
registered under the Securities Act or any United States state
securities laws, and SpineGuard does not intend to make a public
offer of its securities in the United States. This is an
announcement and not a prospectus, and the information contained
herein does and shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
securities referred to herein in the United States in which such
offer, solicitation or sale would be unlawful prior to registration
or exemption from registration.
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version on businesswire.com: https://www.businesswire.com/news/home/20210825005513/en/
SpineGuard Pierre Jérôme CEO & Chairman Tel: +33 1 45
18 45 19 p.jerome@spineguard.com
SpineGuard Manuel Lanfossi CFO Tel: +33 1 45 18 45 19
m.lanfossi@spineguard.com
NewCap Investor Relations & Financial Communication
Mathilde Bohin / Pierre Laurent Tel.: +33 1 44 71 94 94
spineguard@newcap.eu
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