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, announces a major breakthrough within the framework of its US sales development program, with the signing of seven additional distribution agreements.
Ludovic Lastennet, CEO of Implanet, says: “We are delighted to announce the signing of these seven new distribution agreements with highly-reputed sales agencies. They bring acknowledged expertise and deep customer relationships within the in the field of spine surgery.”
Mike O’Neil, President and CEO of Boston-based Paradigm BioDevices, Inc., one of the new distributors, says: “We are particularly enthusiastic following the signing of this partnership agreement. Implanet’s product range, and notably its JAZZ implant, will supplement our offering to include a product with unique features. We look forward to providing our customers this breakthrough spine technology, in a market that we have successfully addressed for over twenty years.”
These distribution agreements, finalized in March and April 2014, will enable the Company to expand its sales network to a total of 14 agencies, addressing almost 50% of the North American pediatric scoliosis market and covering approximately 35% of US states. Initially only covering the West Coast, Implanet now has global coverage across the regions with the highest potential: the East, West and South.
“Implanet’s structure in the United States is making rapid progress, enabling us to obtain tangible results in terms of accelerating JAZZ sales. Since our IPO, we have almost tripled our network of sales agencies and significantly expanded our territorial coverage in this market. This is in addition to the recruitment of sales directors for the West and East of the United States, recruitment of a marketing and training director, as well as the appointment of Brian T. Ennis, an international expert in this sector, to the Board. Having achieved all the above, we are continuing our efforts to sign the best possible partnership agreements and further enhance JAZZ’s visibility in the United States,” concludes Ludovic Lastennet, CEO of Implanet.
Next financial press release: revenue for the 1st half of 2014, on 28 July 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