Gimv invests €30m in Spineart

The proceeds will be used for product development, to improve the company's sales and for further expansion in Europe and the US.

The deal marks Gimv's fourth investment in the healthcare space this year. In May, the firm backed the $25m series-D for Dutch biotech business Endostim, alongside Endeavour Vision, Wellington Partners and others.

Company
Founded in 2005 and based in Geneva, Spineart is a medical device company. It focuses on spinal surgery by developing technologies in the fields of motion preservation, fusion, biologics, minimally invasive surgery and fractures treatment. It sells implants with instrument sets. The business employs 100 people and has a turnover of €34m.

People
Gimv – Peter Byloos (partner).
Spineart – Jérome Levieux, Stéphane Mugnier-Jacob (co-CEOs).

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• Topics
• Expansion
• Healthcare
• DACH
• Switzerland
• Venture