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Gimv: Spineart secures investment from Swiss holding company

( - Belgium's Gimv, the largest shareholder of Spineart, said on Thursday that the Swiss spinal devices company has secured a 50 million Swiss franc investment from EGS, a Zurich-based holding company.

The funds will be used to launch clinical studies, accelerate organic growth in key markets, seize acquisition opportunities and develop the company's technology, Gimv said in a statement.

Spineart has doubled its sales over the past four years to reach a global level of 66 million euros in 2019, doubling its staff to more than 200 in the meantime.

EGS Beteiligungen is a long-term oriented holding company that invests in Swiss companies that have a turnover of at least 50 million Swiss francs (about 46 million euros).

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