Safe Group Successfully Transitions Out of Receivership

Safe Group Triumphs Over Receivership Challenges

Safe Group has announced its successful exit from court-ordered receivership, following a favorable ruling from the Pontoise Commercial Court. This decision, reflecting the hard work of the new management team since December 2023, underscores a bright future for the company.

Key Steps Toward Recovery

The revitalization plan presented during the last court hearing provided significant assurances to the stakeholders. Key initiatives included:

• Relocating Safe Orthopaedics to Fleurieux-sur-l'Arbresle.
• Restructuring the commercial operations to enhance sales coverage.
• Implementing new industrial processes to boost machining capabilities and reduce production times.

Synergies Between Companies

To further streamline operations, Safe Group plans to unify SpineUp, Safe Medical, and Safe Orthopaedics under a new holding company called the “Up Group.” This merger is designed to leverage their complementary strengths and is expected to be completed by the year’s end.

Quotes from Leadership

Victor Humberdot, the Chairman, expressed his gratitude: “We are pleased with the trust shown by the Commercial Court. This decision validates the efforts invested in turning the Group around within a short span.” He praised the teamwork shown by everyone involved in this transformative project.

CEO Philippe Laurito added, “Emerging from receivership marks the start of an exciting journey for the Group. We will concentrate on our unique hybrid offerings, which integrate single-use implants and traditional equipment to ensure Safe's revival.”

About Safe Group

Established in France, Safe Group is a notable medical technology entity that merges the pioneering spirit of Safe Orthopaedics with Safe Medical’s expertise in orthopedic device manufacturing. With around 100 employees, the group aims to revolutionize spine pathology treatments with innovative technologies.

Safe Orthopaedics specializes in the development of pre-packaged surgical kits that combine sterile implants and essential instruments, emphasizing a minimally invasive approach for patient safety and efficiency. With a robust portfolio protected by 15 patents, their SteriSpineTM kits are recognized with both CE and FDA certifications.

Production and Innovation

Safe Medical also contributes to innovation through its manufacturing of implantable devices and ready-to-use surgical tools. Their two production sites in France and Tunisia allow for comprehensive industrial services, from machining to sterilization.

Contact Information

For investor inquiries, you can reach out to SAFE GROUP at investors@safeorthopaedics.com. Additionally, AELYON ADVISORS can be contacted at safe@aelyonadvisors.fr.

Frequently Asked Questions

What does it mean for Safe Group to emerge from receivership?

Emerging from receivership signifies that Safe Group has regained operational control and is set to implement its recovery strategies.

What are the major initiatives that Safe Group will undertake post-receivership?

Key initiatives include relocating Safe Orthopaedics, restructuring commercial operations, and improving production efficiency.

How does the merger with SpineUp affect Safe Group's operations?

The merger under the “Up Group” aims to combine strengths and resources, enhancing operational efficiencies and market reach.

Who is leading Safe Group now?

Victor Humberdot serves as Chairman, while Philippe Laurito is the Chief Executive Officer guiding the Group’s vision and strategies.

Where can I find more information about Safe Group?

For detailed information, you can contact them through their email or visit their official websites for updates and resources.

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