PARIS--(BUSINESS WIRE)--Regulatory News:
IMPLANET (Paris:IMPL) (Euronext: IMPL, FR0010458729, PEA-PME eligible), a medical technology company specializing in vertebral and knee-surgery implants, today announces its revenue for the 1st quarter of 2014.
Ludovic Lastennet, CEO of Implanet, states: “We are pleased with the dynamics of this promising first quarter, which reaffirmed the pertinence of our growth strategy, the ramping of JAZZ sales in our priority markets and the rapid surgeon adoption of this technology. More than 150 surgeries have been done with JAZZ and over 1,000 JAZZ units were sold in the first quarter alone, representing more than half of the number of units sold throughout the whole of 2013. In addition, our high-end knee surgery implant business grew, 2.5X faster than the market average.”
|In € thousands - IFRS||Q1 2014||Q1 2013||Δ|
|Knee + Arthroscopy||1,244||1,116||+11%|
Revenue for the 1st quarter of 2014: acceleration in the growth of JAZZ sales
In the 1st quarter of 2014, Implanet recorded revenue of €2,047 thousand (+7%), including €806 thousand of international sales (39% of total sales).
Revenue from Spine activity (JAZZ) grew sharply to €425 thousand (+79%), driven by JAZZ’s dynamic growth in the Company’s priority development regions. Sales doubled in France compared to Q1 2013, to €144 thousand, and quadrupled in the United States compared to Q4 2013, to €118 thousand (sales only began in Q2 2013). Over the first quarter alone, Implanet sold 425 JAZZ units in France and 647 in the rest of the world, including 126 in the United States, giving a total of 1,072 units sold (+136%), equaling 55% of the total number of units sold in all of 2013 (1,953 units).
Revenue from Knee activity, the Company’s longest running business segment, continued to grow and totaled €1,244 thousand (+11%). Revenue from Hip activity fell to €378 thousand (-32%), in accordance with the Company’s planned gradual withdrawal from this low value segment.
Significant progress made over the 1st quarter of 2014
Over the quarter, Implanet accelerated its structural development in the United States with a number of major achievements on the organizational front:
- Recruitment of 2 sales directors to provide support for sales agencies and surgeons;
- Recruitment of a marketing and training director, design and implementation of strategic programs;
- Signing of distribution agreements with 2 new partners to extend coverage to 4 additional states;
- Appointment of Brian T. Ennis to the Board of Directors. Brian is an international expert in this sector, his proven experience will support Company growth in this market and overseas;
- FDA 510(k) clearance for a JAZZ technical improvement.
Significant progress has also been made in European markets:
- First operations using JAZZ in Germany and Spain, following the signing of a partnership contract with major sector players in December 2013;
- Increase in the number of units implanted in Italy and Greece;
- Granting, by the European Patent Office, a patent for the Universal Tibial Insert, an exclusive feature of Implanet’s Knee range.
Next scheduled financial press release: 28 July 2014, revenue for the 1st half of 2014
Founded in 2007 and based near Bordeaux, IMPLANET is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its flagship product, the JAZZ latest-generation implant, aims to improve the treatment of 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 CE mark. IMPLANET employs 35 staff and recorded 2013 sales of €6.7 million.
For further information, please visit www.implanet.com