EGS invests CHF 50m in Spineart

The company plans to use the investment to continue its US expansion and strengthen its position in Europe. Spineart also plans to invest in its R&D pipeline.

According to Unquote sister publication Mergermarket, Spineart mandated Rothschild in March 2020 to explore options for a sale or a capital raise. The company was valued at €200m and had received bids from 20 parties, according to the report.

EGS takes long-term stakes in companies based in Switzerland in the industrial and services sectors with a turnover of more than CHF 50m, generally taking minority stakes.

Previous funding
Gimv invested €30m for a minority stake in Spineart in September 2016. The company employed 100 people and reported turnover of €34m at the time of Gimv's investment.

Company
Founded in 2005 and based in Geneva, Spineart develops and produces implants and instruments for use in hospitals in spinal surgery. Its medical devices aim to ensure minimally invasive surgery and to treat conditions including spinal fractures.

The company experienced consistent growth in 2019, reporting an increase in revenues of 28% for Q3 2019 and 28% for the first three quarters of the year. New product launches and expert phases represented 61% of the company's growth in Q1-Q3 2019, according to a company statement. In 2018, its US arm alone reported revenues of $23.1m. Spineart has a headcount of 174, according to LinkedIn.

People
EGS Beteiligungen – Dominik Satuter (managing director).
Gimv – Bart Diels (managing partner, head of health and care).
Spineart – Jérôme Levieux, Stéphane Mugnier-Jabob (founders, CEOs).

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• Topics
• Expansion
• DACH
• Healthcare
• Switzerland
• Gimv