S.M.A.I.O: directors' dealings · France · AMF

About S.M.A.I.O

S.M.A.I.O (SMAIO, ISIN FR0014005I80, ticker ALSMA) is a French-American medical technology company focused on complex spine surgery. Listed on Euronext Growth Paris, the company provides an integrated offering for spine surgeons that combines 3D pre-operative planning software, adaptive implants, spinal fixation systems and related services. Its business model sits at the intersection of medical devices, clinical data and surgical software, with a clear aim: to improve the precision, safety and repeatability of vertebral fusion procedures. In its official communications, SMAIO presents its offer through the i-Kontrol platform, a holistic framework covering i-PLAN for surgical planning, i-PERFORM for intra-operative execution, i-CHECK for post-operative outcome tracking and i-LEARN for physician education. The company also highlights KEOPS, its clinical database and planning software, which it describes as a global reference since its launch in 2010. Founded in 2009 and historically based in Saint-Priest near Lyon, SMAIO has progressively expanded beyond France, with a growing commercial focus on the United States, which it identifies as its highest-value and largest growth market. To support that push, the group has built a North American scientific advisory board, signed industrial partnerships and developed surgeon education programs to accelerate adoption among reference centers. In 2025, SMAIO reported a meaningful step-up in sales, driven primarily by the commercial ramp-up of its Kheiron system and by the launch of KEOPS-4ME, an open platform designed to support the wider rollout of custom K-Rods. Notable features of the company include a documented clinical database of more than 100,000 patient cases associated with KEOPS and a strategy centered on high-volume, high-complexity spine centers. SMAIO remains a small-cap healthcare company in an industrialization phase, with its investment case dependent on product adoption, international expansion and the conversion of innovation into sustainable growth and profitability.