BORDEAUX, France & BOSTON–(BUSINESS WIRE)–Regulatory News:
IMPLANET (Paris:IMPL) (OTCQX:IMPZY) (Euronext: IMPL, FR0010458729, PEA-PME eligible; OTCQX: IMPZY), a medical technology company specializing in vertebral and knee-surgery implants, today announces its revenue for the 1st quarter of 2016.
Ludovic Lastennet, CEO of Implanet, says: “The solid growth in the Group’s revenues is a result of the ongoing momentum and focus on the marketing of our JAZZ technological platform for spine surgery. Our current growth is based on solid fundamentals: validated clinical performance, a steady increase in the number of surgeons using our implants and an expanding JAZZ platform enabling a growing number of indications to be addressed.”
Implanet recorded revenues growth of +24% to €1,988 thousand in Q1 2016 (vs. €1,599 thousand in Q1 2015), driven by a further buoyant increase in Spine activity in the United States, and by Knee activity’s solid performance in France. International sales totaled €906 thousand and accounted for 46% of total revenues.
|In € thousands – IFRS*||Q1 2016||Q1 2015||Change|
|Spine (including JAZZ)||837||755||+11%|
|Knee + Arthroscopy||1,151||844||+36%|
Significant JAZZ sales growth in the United States, notably in degenerative bone disorders, the largest spine surgery market
Sales from Spine activity increased by +11% to €837 thousand (vs. €755 thousand in Q1 2015). The United States, the Company’s main growth focus, recorded a solid performance with JAZZ sales doubling (+106%) from €196 thousand to €403 thousand. In France, where the Company operates directly, JAZZ sales recorded growth of +21%, offsetting the slow activity in other spine implants. In the rest of the world, Spine sales fell to €175 thousand vs. €305 thousand, affected by the absence of sales in Brazil, where macro-economic factors are weighing on local performance.
The geographical split in quarterly Spine revenue highlights the substantial increase in the United States’ contribution to the product mix, with this region accounting for 48% of total sales compared with 31% and 21% respectively for France and the rest of the world.
JAZZ sales dedicated to major adolescent deformity (scoliosis) increased over the quarter by +41% to €397 thousand (vs. €282 thousand) in the markets where the company’s sales are direct (US and France). Encouraged by the success achieved on this highly-technical market, Implanet will continue to accelerate its focus on the degenerative bone disorder segment. This represents the largest global spinal fusion market segment, with almost half of the worldwide procedures carried out in the United States. These procedures, which aim to secure posterior spinal fixation, or to replace screws, generated growth of +141% to €222 thousand (vs. €92 thousand) over the quarter in the US and France, accounting for 36% of JAZZ sales.
In recent months, Implanet has also accelerated the recruitment of surgeons who regularly use JAZZ technology. On its 2 priority markets, the Company had 93 referring surgeons at March 31, 2016, 49 of them in the United States and 44 in France (vs. 21 and 29 respectively at March 31, 2015).
Substantial quarterly growth in Knee sales
Over the quarter, Knee sales increased by +36% to €1,151 thousand. 71% of these sales were in France, where revenue totaled €823 thousand vs. €523 thousand in Q1 2015. In the rest of the world, sales remained stable at €328 thousand vs. €322 thousand in Q1 2015.
Next financial press release: revenue for the 1st half of 2016, on July 26, 2016
Founded in 2007, IMPLANET is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its flagship product, the JAZZ latest-generation implant, aims to treat spinal pathologies requiring vertebral fusion surgery. Protected by four families of international patents, JAZZ has obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States and the CE mark. IMPLANET employs 48 staff and recorded 2015 sales of €6.7 million. For further information, please visit www.implanet.com.
Based near Bordeaux in France, IMPLANET established a US subsidiary in Boston in 2013.
IMPLANET is listed on Compartment C of the Euronext™ regulated market in Paris.
This press release contains forward-looking statements related to Implanet and its activities. Implanet estimates that these forward-looking are based on reasonable assumptions. No guarantee is given as to these forecasts being achieved, which are subject to risks, including those described in Implanet Reference Document registered with the French Autorité des marchés financiers (a copy of which is available on www.implanet-invest.com), and to the development of economic conditions, the financial markets and the markets in which Implanet operates. Forward-looking statements included in this press release are also subject to risks unknown for Implanet or not considered by Implanet as significant as of today. The Company’s future performance, the Company’s financial position, results, cash-flows and developments in the sector may differ materially due to the realization of one of those risk factors.
Ludovic Lastennet, +33 (0)5 57 99 55 55
Florent Alba, +33 (0)1 44 71 94 94
Nicolas Merigeau, +33 (0)1 44 71 94 98
Pascal Nigen, +1-917-385-21 60