Financial

Implanet Reports Q1 2021 Revenue of €1.7 Million, Driven by the Dramatic Growth of Its Spine Activity

April 20, 2021

  • Global revenue growth: +7%, driven by +13% increase in direct sales
  • Growth in JAZZ® Spine activity: +41%

A webinar will be held at 6 pm (Paris time) today, April 20, 2021:
https://us02web.zoom.us/webinar/register/WN_xRVpxI-iRIOkUdiWTPU8iA

BORDEAUX, France & BOSTON–(BUSINESS WIRE)–Regulatory News:

IMPLANET (Paris:ALIMP) (Euronext Growth: ALIMP, FR0013470168, éligible PEA-PME), eligible for PEA-PME equity savings plans), a medical technology company specializing in vertebral and knee-surgery implants, today announced its revenue for the first quarter of 2021.

Revenue (€ thousands – IFRS*)Q1 2021Q1 2020Change
Spine (JAZZ®)1,026728+41%
Knee653839-22%
Total revenue1,6781,567+7%

*Unaudited data

Implanet CEO Ludovic Lastennet said: “The first few months of 2021 were marked by solid sales momentum. Despite the public health situation, which has slowed surgical activity globally, we posted total growth of +7% with an excellent performance with JAZZ®, which increased by 41% over the period, again reflecting the adoption of our technology by surgeons and the clinical appeal of our products for patients. At the same time, we have reached a new structural milestone with the finalization of the project to acquire Orthopaedic & Spine Development, which also recorded growth in its activity during the first three months of this year. This new ensemble’s objective will be to position ourselves as a benchmark player in orthopedic surgery in France, and it will only strengthen the sales momentum we are currently generating”.

In the first quarter of 2021, Implanet posted revenue of €1.68 million, up 7% (vs. €1.57 million in Q1 2020). JAZZ® sales totaled €1.03 million (vs. €0.73 million in Q1 2020), while Knee activity fell 22% to €0.65 million, impacted by a very sharp slowdown in activity in Brazil associated with the extent of the health crisis in that country.

JAZZ® sales recorded substantial growth in countries in which the Company operates directly, notably in the United States, where sales totaled €0.42 million (+64%) thanks to the sale of 313 units (+71%), and in France, which generated sales of €0.35 million (+19% in value terms), i.e. a total volume of 968 units sold (+21%). Export activity also generated buoyant growth, +45%, with sales totaling €0.26 million (vs. €0.18 million).

All in all during the first quarter of 2021, Implanet sold 1,952 JAZZ® units, an increase of +29% over Q1 2020.

Knee activity remained relatively stable in France at €0.64 million (vs. €0.68 million in 2020), despite the various waves of lockdown over the period. The impact on overseas activity was more substantial, primarily in Brazil.

Lastly, Implanet would like to remind readers that the acquisition of Orthopaedic & Spine Development (“OSD”) is subject to the approval of its shareholders at the General Meeting of May 5, 2021. OSD recorded unaudited revenue of €1.02 million in the first quarter of 2021, up 7% (vs. €0.95 million). The Group’s pro forma revenue for the quarter would thus have been €2.69 million.

Q1 2021 highlights

  • Commercial launch of the JAZZ® PF implant, which has already received 510 (k) clearance from the FDA and CE marking in Europe;
  • Clearance of the MADISONTM total knee prosthesis by the Therapeutic Goods Administration (TGA) for marketing in Australia;
  • Finalization of the agreement to acquire OSD, which specializes in developing, manufacturing and marketing implants for spine surgery. This agreement is subject to shareholder approval at the General Meeting of May 5, 2021.

A webinar will be held at 6 pm CEST today, April 20, 2021

The Company would like to inform its shareholders that a webinar will be held at 6 pm today.

During this web conference, Chief Executive Officer Ludovic Lastennet and Chief Financial Officer David Dieumegard will present Implanet’s strategic focuses following the finalization of the agreement to acquire OSD. The webinar will be held in French and will be followed by a Q&A session.

To follow this webinar, just log in via the following link: https://us02web.zoom.us/webinar/register/WN_xRVpxI-iRIOkUdiWTPU8iA

Upcoming financial events:

– H1 2021 revenue, July 6, 2021 after market
– H1 2021 results, September 21, 2021 after market

About Implanet

Founded in 2007, Implanet is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its activity revolves around two product ranges, the latest generation JAZZ® implant, designed to improve the treatment of spinal pathologies requiring vertebral fusion surgery, and the MADISON implant designed for first-line prosthetic knee surgery. Implanet’s tried-and-tested orthopedic platform is based on product traceability. Protected by four families of international patents, JAZZ® and MADISON have obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States, the CE mark as well as the ANVISA authorization in Brazil. Implanet employs 29 staff and recorded 2020 sales of €6.0 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 equity line (OCA, OCAPI, BSA) and the number of shares outstanding, is available on its website: http://www.implanet-invest.com/suivi-des-actions-80

Contacts

IMPLANET
Ludovic Lastennet, CEO
David Dieumegard, CFO
Tel.: +33 (0)5 57 99 55 55
investors@Implanet.com

NewCap
Investor Relations
Mathilde Bohin
Nicolas Fossiez
Tel.: +33 (0)1 44 71 94 94
Implanet@newcap.eu

NewCap
Media Relations
Nicolas Merigeau
Tel.: +33 (0)1 44 71 94 94
Implanet@newcap.eu

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Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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