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Safe Sa — Safe Orthopaedics — Investor Presentation (April 2018)
26 slides from Safe Sa's investor presentation, April 2018
Slide 1: Investors Presentation April 2018
INVESTORS PRESENTATION April 2018 www.SafeOrtho.com
Slide 2: Safe Orthopaedics: key highlights
Safe Orthopaedics: key highlights • French company created in 2010 • Headquarter in Eragny sur Oise (Paris suburbs) Company • 36 employees as of Dec 31, 2017 • Listed on Euronext Paris Compartment C (IPO Date on Feb 10, 2015) • Leading the Spine Fracture Market Technology • Pioneer and Leader of Spi
Slide 3: A 'Spine' Experienced team
A ‘ Spine ’ Experienced team Pierre Dumouchel – Co-founder and CEO ► 13 years of experience in the spinal medical device industry ► Master’s degrees in Management from the CNAM and in the Engineering of Advanced Materials from the Advanced InsKtute for Technology and Management François-Henri Reynau
Slide 4: A 'Worldwide Business' Experienced Board
A ‘ Worldwide Business ’ Experienced Board Dr Alain Coudray is an internaKonal veteran of the Medical device industry with more than 20 years of experience. Since June 2006, he has Dr Alain occupied several important posts with Medtronic, notably as European Vice President of the Cardiac Rhythm Dise
Slide 5: A 'European High level' Scientific Advisory Board
A ‘ European High level ’ ScienHfic Advisory Board Pr Le Huec, France Head of the Spine Orthopaedics & Traumatology department CHU, Bordeaux Dr Franke, Germany Orthopaedics Surgeon Magdeburg Hospital Dr Van Gaalen, the Netherlands Orthopaedics Surgeon Diakonessenhuis Hospital, Utrecht Dr Faundez, Swi
Slide 6: The Spine pathologies
The Spine pathologies 1/ Spinal Fracture: • High impact fracture, due to an accident, • OsteoporoKc fracture, due to reduced bone quality of ageing paKent, • Malignant fracture, due to reduced bone quality of metastasis paKent UNPREDICTABLE SURGERY, OFTEN THREATED IN EMERGENCY CONDITIONS GROWING SEG
Slide 7: The classic technologies used for the last years
The classic technologies used for the last 60 years… Implants to be sterilized Reusable Instruments + Manufacturer consigns technologies - Hospital manages the surgical process Investor Presentation – April 2018 7
Slide 8: The improvement of the Spine Surgeries
The improvement of the Spine Surgeries… 1950 2010 Technologies were enhanced to improve the post-operaOon quality of life The surgical risk is reduced thank to the ‘Sterile’ environment The Minimally Invasive Surgical approach is recommended Investor Presentation – April 2018 8
Slide 9: The trend of Minimally Invasive Surgery
The trend of Minimally Invasive Surgery… The Minimally Invasive approach Worldwide Spinal Fusion market (B$)* * Data from Millennium 2015 The Minimally Invasive approach provides be^er clinical outcomes: • less blood loss, OPEN MINIMALY • less transfusion need, SURGERY INVASIVE SURGERY • less postop
Slide 10: The potential market of Minimally Invasive Surgeries
The potenKal market of Minimally Invasive Surgeries… In 2017, Less than 20%* of the surgeries are managed by Minimally Invasive approach Pathologies analysis Market Breakdown Based on pathologies analysis and surgeons interviews, * Data from Millennium 2015 the potenOal conversion to Minimally Invas
Slide 11: The Minimally Invasive Solutions
The Minimally Invasive SoluHons… More than 70 players* promote Minimally Invasive soluHons But all technologies presents the same characterisHcs 3 boxes Cannula, small area, small mechanism are designed minimum needed, containing =>The Cleaning / SterilizaOon become complex between 35 60 complex to
Slide 12: The limits of the reusable technologies
The limits of the reusable technologies Surgical Approach RISK Minimally Complex design Instruments Invasive 35/60 instruments No warranty of qualified staff* Simple design Instruments 20/30 instruments Availability of Qualified staff Open Few months planificaHon Emergency situaHon : Fracture The Minimal
Slide 13: Safe Orthopaedics, A new generation of MIS
Safe Orthopaedics, A new generaKon of MIS… Safe Orthopaedics design new genera7on of MIS instruments thank to a High Performance polymer • All shape are possible improving the ergonomy of instrument • Instrument are Radiolucent • The screw inserKon is easier to control • X rays exposure is reduced •
Slide 14: Safe Orthopaedics, A new generation of MIS
Safe Orthopaedics, A new generaKon of MIS… MulH-funcHon Instruments T PosiKon handle or Straight PosiKon handle • High Performance polymer 2 Single Use Counter Implant + Molding Process Instruments replace Torque Holder 7 reusable instruments Classic handle or Ratchet System Handle One single use Ki
Slide 15: A unique combination of MIS Implants
Safe Orthopaedics, A unique combinaison of MIS Implants An Unique CombinaHon of Implants Based on Same Instrument Technology Oak. Cypress. AUTOCORRECTION MODULAR ANCHORAGE SCREW SCREW Patented Screw Expendable Screw for for high impact fracture Osteoporotic fracture, Growing challenge in the coming
Slide 16: A unique solution offering unrivaled advantages
A unique soluHon offering unrivaled advantages Classic Player Safe Orthopaedics • Fracture Unadapted Optmized Pathology • DegeneraKve disease Efficient Efficient treatment • Complex Deformity Optmized Unadapted Learning • Surgery preparaKon Complex Easy curve • Surgeon assistance High qualificaKon needed
Slide 17: The Strategy to convert the Spine Market
The Strategy to convert the Spine Market… Spinal Fusion market… Worldwide Spinal Fusion market (% of B$) 1/ Promote the Safest MIS treatment for all Spinal Fractures Complex In 2017 spine • Safe Orthopaedics leads the Posterior FixaKon of all fractures deformit y 5% Spinale fracture [VALEUR ] 2/ Pro
Slide 18: The success in France
The success in France… Strategic Market share Surgeries performed cumulated: Posterior fixa7on of Fractures 2011 1 sales representaKve 1ST Surgery Technology development 2014 2 sales representaKves 1 100 Surgeries SF MS*: 1% 2016 3 sales representaKves 4 100 Surgeries SF MS*: 4% 2017 4 sales represen
Slide 19: The worldwide expansion
The worldwide expansion… In 2018, Safe Orthopaedics technology is used in 20 countries Investor Presentation – April 2018 19
Slide 20: In 2017, Safe Orthopaedics achieved its strongest business growth
In 2017, Safe Orthopaedics achieved its strongest business growth Thank to the reinforcement of sales and markeHng team (45% of human resources) and the worldwide expansion: ADJUSTED SALES € xM (excluding US) 3500 +37% 3000 2500 +9% +27% 1528 2000 +25% 1086 1500 1055 1000 1045 1582 500 1017 1181 615
Slide 21: The Strategy for creating value in the coming years
The Strategy for creaKng value in the coming 3 years 2018 2019 2020 France, Germany New Technology New Technology and UK & Japan & Finance France • Launch and promote MIS • Propose new services for • Recruit 2 new reps for an Technology for all Spinal catalyzing the trend of opKmized naKonal sales F
Slide 22: The Safe Cash Model
The Safe Cash Model… Thanks to the Single Use Instrument technology, Safe Orthopaedics is developing a unique Cash model in the Spine Industry Classic Reusable Instrument Kit Safe Orthopaedics Instrument Kit VS. Indirect costs of the reusable instruments kit (CAPEX) are two to three Kmes greater tha
Slide 23: The Safe Cash Model
The Safe Cash Model… 2013 2014 2015 2016 4,00 2,07 2,27 2,00 1,65 1,30 0,00 -2,00 -2,00 -4,00 -4,80 -6,00 -5,40 -5,80 -5,90 +20% -6,20 +9% / Ebitda / Ebitda +12% -7,00 -8,00 / Ebitda Sales (€xM) EBITDA (€xM) Cash (€xM) When the EBITDA + will be achieved, Cash will be generated: A unique cash model i
Slide 24: Why invest in Safe Orthopaedics?
Why invest in Safe Orthopaedics? 1/ Unique technology leading the growing spine trends (MIS & Spinal fracture market) 2/ Limited risk: Products already on the market, validated by more than 10,000 surgery kits sold New markeHng strategy that is paying off 3/ • Adjusted1 2017 revenues: +43% • Products
Slide 25: Financials
=) Financials a ann Spine Specialist
Slide 26: Capital
Capital Share data (at April 12th, 2018) Non-diluted ownership Pierre Dumouchel Autres fondateurs Salariés CEO 1,05% 1,14% 3,34% ISIN Code FR0012452746 Kurma Biofund 22,24% LisOng Euronext Paris Share price 0,485 € Flo^ant 62,92% IDInvest 3,47% 12-month high 1,224 € Michael 12-month low 0,483 € Dema
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