Safe out of receivership
07 Novembro 2024 - 1:50PM
UK Regulatory
Safe out of receivership
Safe out of receivership
Fleurieux-sur-l’Arbresle -
France - November 6, 2024, 6.00 p.m. Safe SA
and its subsidiaries announce that they have emerged from the
court-ordered receivership proceedings by virtue of a ruling handed
down by the Pontoise Commercial Court on Wednesday November 6,
2024, in accordance with the ruling of November 5, 2024. The latter
validated the recovery plans as well as the new strategy instilled
and implemented by the new management team since December 15,
2023.
The turnaround plans presented at the hearing on
October 18, 2024 were convincing. Major actions include:
- relocation of Safe Orthopaedics to Fleurieux-sur-l'Arbresle,
- commercial restructuring of Safe Orthopaedics in favor of a sales
agent strategy to improve territorial coverage,
- the implementation of new industrial configurations to increase
the Group's machining capacity and reduce production lead
times.
In addition, to enhance operational and
geographic synergies between SpineUp on the one hand, and Safe
Medical and Safe Orthopaedics on the other, it is planned to bring
them together under a single holding company, to be known as
the “Up Group”.
The strong complementarity between the activities of the two groups
did not wait for the merger, which should be completed by the end
of the year. SpineUp has already directed all its production orders
for new projects to Safe Group companies.
Victor Humberdot, Chairman: “We are
delighted that the Commercial Court has placed its trust in
us. Less than a year after we took over the management of
Safe, we are honored by this decision. It is the
culmination of a year's hard work to turn the Group around.
I congratulate the internal and external teams, as well as all
our partners, who have rallied around this project, which is still
in its early stages.”
Philippe Laurito, Chief Executive Officer: “Our emergence from
receivership marks a new starting point for the Group and its
activities. From now on, we will be able to focus on our
hybrid offering, combining implant ranges based on single-use and
conventional ancillary equipment. This will enable us to pursue our
roadmap even more actively and, beyond our promises, confirm Safe's
renaissance.”
About Safe Group
Safe Group is a French medical technology group
that brings together Safe Orthopaedics, a pioneer in ready-to-use
technologies for spine pathologies, and Safe Medical (formerly LCI
Medical), a medical device subcontractor for orthopedic surgeries.
The group employs approximately 100 people.
Safe Orthopaedics develops and manufactures kits combining sterile
implants and ready-to-use instruments, available at any time to the
surgeon. These technologies are part of a minimally invasive
approach aimed at reducing the risks of contamination and
infection, in the interest of the patient and with a positive
impact on hospitalization times and costs. Protected by 15 patent
families, SteriSpineTM kits are CE marked and FDA approved. Safe
Orthopaedics has subsidiaries in the United Kingdom, Germany, the
United States.
For more information: www.safeorthopaedics.com
Safe Medical produces implantable medical
devices and ready-to-use instruments. It has an innovation center
and two production sites in France and in Tunisia, offering
numerous industrial services: industrialization, machining,
finishing and sterile packaging.
For more information: www.safemedical.fr
Contacts
SAFE
GROUP AELYON
ADVISORS
investors@safeorthopaedics.com safe@aelyonadvisors.fr
Safe Orthopaedics (LSE:0RAA)
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