New challenger in spinal implants : Bryan, Garnier & Co advises Spineart on  €30M Equity Investment from Gimv

New challenger in spinal implants : Bryan, Garnier & Co advises Spineart on €30M Equity Investment from Gimv

News published on September Thursday 22, 2016
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Paris, 22nd September 2016 – Bryan, Garnier & Co advised Spineart, the medical device company focused on orthopaedic surgery, on a €30m equity investment from Gimv, a healthcare specialist investor. Within the context of the financing process, led by Bryan, Garnier & Co, the bank raised interest from leading international investors. Gimv was chosen from amongst these investors for its ability to fully respond to Spineart’s ambitions: to accelerate its expansion in Europe and the US, penetrate new markets and develop its R & D projects.

With an aging population, economic development in emerging countries and lifestyles with an increasing number of risks, the spinal market, with an estimated value of 10 billion dollars, is currently growing rapidly (+6.4% per year to 2020). Long dominated by established players in the spinal field offering a large but relatively uninnovative range of products, the market today has been shaken up by the arrival of new challengers such as Spineart.

Founded in 2005, Spineart creates and develops disruptive technologies for surgeons and patients (new forms of implants, different methods of implantation, innovative materials etc.). A pioneer in its field, the company has long been experiencing rapid growth which enabled it to generate a global turnover of 34 million euros in 2015.

Spineart perfectly fits the profile of the companies that Bryan, Garnier & Co advises: it is a European company, in the healthcare sector, experiencing fast growth in a flourishing market”, states Hervé Ronin, Partner at Bryan, Garnier & Co. The bank has in fact followed Spineart for several years and accompanied the founders, managers and shareholders, throughout the fundraising process, alongside Société Générale, who also advised on this transaction. After having approached several investors, Bryan, Garnier & Co, Société Générale and Spineart selected Gimv, a healthcare specialist investor, to be the partner of choice to accompany the company’s ambitions.

Jérôme Lévieux and Stéphane Mugnier-Jacob, co-founders and co-CEOs of Spineart commented: “Bryan Garnier’s team demonstrated strong commitment throughout the process. Their deep expertise and understanding of our business and industries has been instrumental in raising interest from investors, leading to the successful completion of this transaction.”

Hervé Ronin, Partner at Bryan, Garnier & Co added: “We are delighted to support Spineart, one of the most dynamic orthopaedic companies in Europe, in this financing round. This transaction illustrates once more the unique ability of Bryan, Garnier & Co to support European growth companies in the healthcare sector, in their various financial needs”. 


Spineart: Jérôme Lévieux, Stéphane Mugnier-Jacob, Jérôme Ventura

Bryan, Garnier & Co: Hervé Ronin, Jean de Pracomtal

About Spineart (

Spineart is a privately held medical device company focused on simplifying the surgical act by designing, developing and promoting safe and efficient solutions to spine surgeons, operating room teams, and patients. Spineart is a pioneer in its field, having introduced unique patented and clinically validated technologies in the fields of Minimally Invasive Surgery, Motion Preservation, Fusion, Biologics, and Fractures Treatment. Spineart markets a complete portfolio combining traceable barcoded sterile packed implants with compact instrument sets, thus proudly promoting greater safety, cost-efficiency, and compliance at the hospital. Founded in 2005, Spineart addresses 7 countries (of which the US) via direct sales and 39 countries through distributors across EMEA, Asia and Latin America. 

About Bryan, Garnier & Co (

Bryan, Garnier & Co is one of the leading independent investment banks specialized in European healthcare growth companies. We have a dedicated franchise of 20 senior professionals including investment bankers, equity research analysts and institutional sales professionals. Our team covers the key market sub-categories such as : biotechnology, large cap and specialty pharmaceuticals, life science tools, medical technology, diagnostics, healthcare information technology and services.

In 2015, Bryan, Garnier & Co completed over 10 transactions for European healthcare growth companies, raising a total of approximately $1 billion.  We top the European healthcare fundraising league tables and are the number one Investment bank for fund raising on Euronext. In the past 24 months, Bryan, Garnier & Co was the most active investment bank involved in the IPO and follow-on of European healthcare growth companies on the US Nasdaq advising companies such as LDR, DBV Technologies as well as Galapagos.

Bryan, Garnier & Co is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom, and is member of London Stock Exchange and Euronext, Alternext Listing Sponsor, and is active in all European capital markets.

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