October 09, 2018
BORDEAUX, France & BOSTON–(BUSINESS WIRE)–Regulatory News:
Implanet (Paris:ALIMP) (OTCQX:IMPZY) (Euronext Growth: ALIMP, FR0010458729, eligible for PEA-PME equity savings plans), a medical technology company specializing in vertebral and knee surgery implants, is today announcing its revenue for the third quarter and for the nine-month period ended September 30, 2018.
Implanet is holding a conference call at 9:30am this morning.
To join the call, please dial in on +33 (0)1 70 71 01 59 followed by the participant PIN code: 38620165#.
Ludovic Lastennet, Implanet’s Chief Executive Officer, commented: “Jazz® revenue increased 10% in France and 8% at constant exchange rates in the United States. Our strategy of building closer relationships with surgeons is paying off as the number of repeat surgeries has improved in key hospitals, including in the United States. This direct sales model has been up and running since early September in the United Kingdom, with Implanet UK and Jazz® now listed by the NHS. In Germany, Implanet GmbH subsidiary has been created and a sales director hired. This strategic realignment enables us to remain confident in our prospects for the coming months. The Jazz® activity did not offset the scheduled shutdown of the Arthroscopy business, impacting our total revenue by a decrease of 13% in the third quarter and by 10% at constant exchange rates over the last nine months.”
|Revenue (in thousands of euros – IFRS*)||2018||2017||Change||
Change at constant
|Knee + Arthroscopy||491||671||-27%||-27%|
|Knee + Arthroscopy||1,926||2,387||-19%||-19%|
Implanet recorded a fall of 12% in its total revenue over the nine-month period ended September 30, 2018. to €5.2 million (down 10% at constant exchange rates). The sales reorganization of the spine activities in Europe and the scheduled halt of the Arthroscopy business were the key factors.
Jazz® sales were stable to €1.1 million in the third quarter of 2018 and were down 7% over the first nine months of the year to €3.2 million (down 4% at constant exchange rates). They contributed 63% of total revenue, up from 59% in the same period of 2017.
Over the first nine months of the year, Implanet sold 6,579 units (vs. 6,296 in 2017).
Vibrant growth in Jazz® sales was evident over the first nine months of the financial year in France where they rose 10% to €1.2 million. In the United States, Jazz® sales grew to €1.6 million, up 8% at constant exchange rates.
As previously announced, Implanet intends to replicate the direct sales model, based on close surgeon relationships, which has proven its worth in France and the United States in order to accelerate the commercialization of Jazz® in the principal European markets.
Sales of the proprietary Madison product (knee prosthesis) were stable in France over the first nine months of the year and rose 11% during the third quarter. In the Rest of the World, the scheduled shutdown of the Arthroscopy business was the key factor behind the top-line contraction.
Implanet will be attending the following scientific conferences during Q4 2018:
SOFCOT in Paris from November 12 to November 15, 2018, stand F07
BSS (British Scoliosis Society) in Belfast from November 29 to November 30, 2018, stand 9
DWG in Wiesbaden (Germany) from December 6 to December 8, 2018, stand 102
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 46 staff and recorded 2017 sales of €7.8 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 Euronext™ Growth market in Paris. The Company would like to remind that the table for monitoring the BEOCABSA, OCA, BSA and the number of shares outstanding, is available on its website: http://www.implanet-invest.com/suivi-des-actions-80
This press release contains forward-looking statements concerning Implanet and its activities. Such forward looking statements are based on assumptions that Implanet considers to be reasonable. However, there can be no assurance that the anticipated events contained in such forward-looking statements will occur. Forward- looking statements are subject to numerous risks and uncertainties including the risks set forth in the registration document of Implanet registered by the French Financial Markets Authority (Autorité des marchés financiers (AMF)) on April 16, 2018 under number D.18-0337 and available on the Company’s website (www.implanet-invest.com), and to the development of economic situation, financial markets, and the markets in which Implanet operates. The forward-looking statements contained in this release are also subject to risks unknown to Implanet or that Implanet does not consider material at this time. The realization of all or part of these risks could lead to actual results, financial conditions, performances or achievements by Implanet that differ significantly from the results, financial conditions, performances or achievements expressed in such forward-looking statements. This press release and the information it contains do not constitute an offer to sell or to subscribe for, or a solicitation of an order to purchase or subscribe for Implanet shares in any country.
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