Safe Exits Court-Ordered Receivership

Safe SA and its subsidiaries have successfully emerged from court-ordered receivership, following a ruling by the Pontoise Commercial Court on November 6, 2024. This decision validates the recovery strategies set forth by the new management team, which took charge on December 15, 2023.

The strategies include relocating Safe Orthopaedics, restructuring commercial operations with a sales agent focus, and enhancing industrial capabilities. These initiatives aim to boost the Group's machining capacity and reduce production times.

Ahead of a planned merger, Safe is set to merge with SpineUp under a unified holding company, the "Up Group," leveraging operational synergies between these entities.

Chairman Victor Humberdot expressed gratitude for the court's trust, attributing this transition to a dedicated year of effort. CEO Philippe Laurito sees this milestone as a fresh start, allowing Safe to focus on its hybrid product offerings, paving the way for renewed growth.