July 25, 2014 7:34 PM ET

Healthcare Equipment and Supplies

Company Overview of Premia Spine Ltd.

Company Overview

Premia Spine Ltd. provides spine surgery products. It offers TOPS System, a mechanical device that is housed between two titanium plates, which allows axial rotation, lateral bending, extension, and flexion. The company also provides Versalink, a fixation system to treat patients suffering from lumbar spinal disease that requires decompression and stabilization by fixation. It sells its products through distributors throughout the world. Premia Spine Ltd. is based in Herzeila, Israel.

Achi Dakar 31

Herzeila,  46702

Israel

Phone:

972 54 462 6602

Key Executives for Premia Spine Ltd.

Chief Executive Officer
Compensation as of Fiscal Year 2014.

Premia Spine Ltd. Key Developments

Premia Spine Ltd. Launches Alternative Implant for Spinal Surgery

A medical implant developed by Premia Spine Ltd. offers patients with certain spinal disorders an alternative to traditional fusion surgeries, enabling a quicker recovery and greatly reducing the risk of reoperation. The device called TOPS is fixed to the spine with screws and differs from other products on the market in that it has a central polyurethane unit that moves, recreating motion in all directions. It addresses two lower back ailments: spondylolisthesis, commonly known as a slipped disc, and lumbar spinal stenosis (LSS), a form of spinal arthritis associated with ageing. Fusion surgery in the lower back eliminates one of the three key motion segments, making the other two segments work much harder. Within a few years patients often require more surgery. After completing five-year follow-ups on patients from trials in Belgium and Israel, Premia Spine believes its results are significantly better than those achieved by fusion. The TOPS System overall reoperative rate is less than 5%. The drawback to Premia Spine's device is that it is more expensive, and while the extra cost is covered by public health systems, private insurers do not always do so. Premia Spine began selling its product late last year, when sales totalled hundreds of thousands of shekels. TOPS System is available in Germany, Austria, Britain and Turkey, as well as Israel. It will soon be launched in Belgium and Switzerland. By April the company expects approval to sell the product in at least one Asian country. It has submitted applications in Hong Kong, Singapore, India and Thailand and Sacher foresees approval in those markets by the end of the year. Premia Spine is conducting clinical trials in the United States but Sacher said it could take five years to get U.S. Food and Drug Administration approval.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
May 29, 2014
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