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    ALSAF   FR0013467123

SAFE ORTHOPAEDICS

(ALSAF)
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Safe Orthopaedics : announces the Paris Court of Justice judgment in its favor in the infringement case against Neo Medical

05/31/2021 | 02:38am EDT

  •     Condemnation of the companies Neo Medical SAS and Neo Medical SA for counterfeit
  •     Neo Medical prohibited from importing and marketing its Pedicle Screw Kits in France
  •     Destruction of the Inventories of Neo Medical SAS of Pedicle Screw Kit under control of bailiff.


Éragny-sur-Oise, France, May 31st, 2021 at 8:35 a.m. CET – Safe Orthopaedics (FR0013467123 – ALSAF), a company specialised in the design, manufacture and marketing of ready-to-use technologies for back surgery, with a particular focus on the treatment of emergency vertebral fractures, announced the judgment of May 28, 2021 rendered by the 3rd Chamber of the Judicial Court of Paris in the infringement case against Neo Medical. 

Having discovered that the French and Swiss companies Neo Medical were importing and offering for sale on French territory products which, according to Safe Orthopaedics, reproduced the characteristics of the claims of one of its patents, Safe Orthopaedics sued the companies Neo Medical in front of the Paris Court of Justice for infringement and unfair competition.

Excerpt from the judgment: 

"On May 28, 2021, the Judicial Court of Paris ruled publicly by judgment made available at the clerk's office, contradictory and in first instance and has:

-      Rejected the NEO MEDICAL companies' request for cancellation of the infringement seizure reports carried out on November 17, 2017 in the healthcare institutions

-      Rejected the request for cancellation of claims 1 to 13 of the SAFE ORTHOPAEDICS patent 

-      Declared that the NEO MEDICAL companies, by importing, distributing and marketing in France products reproducing the characteristics of claims 1 to 5, 11 and 13 of the SAFE ORTHOPAEDICS patent, have committed acts of infringement to the detriment of SAFE ORTHOPAEDICS.

As a consequence, the Paris Court of First Instance has:

-      Prohibited NEO MEDICAL from importing and marketing the PEDICLE SCREW KIT products on French territory under a fine 

-      Ordered the destruction under penalty and under the control of a bailiff of the PEDICLE SCREW KIT products remaining in stock in the premises of NEO MEDICAL S.A.S, 

-      ordered the NEO MEDICAL companies to communicate certain information enabling the exact amount of the damages suffered by SAFE ORTHOPAEDICS to be determined..."

Pierre Dumouchel, Chairman and CEO of Safe Orthopaedics commented: "The Paris Court confirms the strength of our patents, as did the European Patent Office, and requires our competitor to withdraw its technologies that were found to be counterfeit. We are delighted with this decision, which defends our know-how and our distribution in the French market, estimated at around €100M. We will continue to protect our innovations, which are the result of the ideas of committed surgeons, and the financial interests of our shareholders who recognize our uniqueness and invest in our international expansion”.

About Safe Group
The Safe Group is a French medical technology group that brings together Safe Orthopaedics, a pioneer in ready-to-use technologies for spinal pathologies, and Safe Medical (formerly LCI Medical), a subcontractor of medical devices for orthopaedic surgery. The group employs approximately 150 people.

Safe Orthopaedics develops and manufactures kits combining sterile implants and single-use instruments, available at all times to the surgeon. These technologies are part of a minimally invasive approach aimed at reducing the risk of contamination and infection, to the benefit of the patient and with a positive impact on hospitalisation times and costs. Protected by 18 patent families, SteriSpineTM kits are CE marked and FDA approved. Safe Orthopaedics is headquartered in the Paris region (95610 Eragny sur Oise - France) and has subsidiaries in the UK, Germany, the USA and the Lyon region where the manufacturing company is located.
For more information: www.SafeOrthopaedics.com

Safe Medical (formerly LCI Medical) produces implantable medical devices and ready-to-use instruments. It has an innovation centre and two production sites in France and Tunisia, offering numerous industrial services: design, industrialisation, machining, finishing and sterile packaging. Supported by the French recovery plan in 2020, the company is investing in additive printing and will be operational in 2022 with this new technology. 
For more information: www.safemedical.fr

Contacts 

Safe Orthopaedics                                                                                             

François-Henri Reynaud                
Chief Financial and Administrative Officer               
Tel: +33 (0)1 34 21 50 00                         
investors@safeorthopaedics.com                     

Press Relations
Ulysse Communication
Pierre-Louis Germain / +33 (0)6 64 79 97 61 / plgermain@ulysse-communication.com
Bruno Arabian / +33 (0)6 87 88 47 26 / barabian@ulysse-communication.com 

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Financials
Sales 2021 4,87 M 5,65 M 5,65 M
Net income 2021 -7,61 M -8,82 M -8,82 M
Net Debt 2021 9,30 M 10,8 M 10,8 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 16,1 M 18,6 M 18,6 M
EV / Sales 2021 5,20x
EV / Sales 2022 4,05x
Nbr of Employees 134
Free-Float 98,6%
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Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 0,33 €
Average target price 0,64 €
Spread / Average Target 92,4%
Managers and Directors
Pierre Dumouchel Chairman & Chief Executive Officer
François-Henri Reynaud Director, Chief Financial & Administrative Officer
Thomas Droulout Chief Technology Officer & Director
Ismaël Nujurally Independent Director
Philippe Chêne Independent Director
Sector and Competitors