BORDEAUX, France & BOSTON--(BUSINESS WIRE)--Regulatory News:
IMPLANET (Paris:IMPL) (OTCQX:IMPZY) (Euronext: IMPL, FR0010458729, PEA-PME eligible), a medical technology company specializing in vertebral and knee-surgery implants, today announces its revenue for the first quarter of 2017.
|In € thousands - IFRS*||Q1 2017||Q1 2016||Change|
|Knee + Arthroscopy||982||1,151||-15%|
In Q1 2017, Implanet recorded a +3% increase in revenue to €2,048 thousand (versus €1,988 thousand in Q1 2016). Jazz® activity increased by +27% to €1,066 thousand (vs. €837 thousand) and accounted for 52% of total revenue (vs. 42%), offsetting the 15% decrease in Knee sales to €982 thousand (vs. €1,151 thousand) because of difficulties in Brazil.
In France, the United States and the rest of the world, Jazz® sales grew by +61% to €417 thousand, +3% to €415 thousand and +34% to €234 thousand respectively. In markets where the Company operates directly, the high-potential degenerative bone disorder segment (adult treatment) saw sales increase by +60% to €353 thousand, accounting for 42% of Jazz® sales (vs. 36% in Q1 2016). Implanet sold 2,032 Jazz® implants over the quarter (vs. 1,197), a 70% volume growth.
Ludovic Lastennet, CEO of Implanet, says:
“Our overall quarterly growth, whilst penalized by the decrease in Knee exports, shows a continuous improvement in Jazz® in terms of both its adoption by surgeons and its share of the Company’s product mix. We have laid the foundation of our current growth by intensifying our efforts regarding the recognition of the clinical value of JAZZ® and the comprehensive nature of our product range. Lastly, we have treated almost 4,000 patients and with more than 20,000 Jazz® implants since its launch. For 2017, we remain confident in our ability to sustain continued growth in Jazz® revenue and establish it as a benchmark in spine surgery. Regarding the Knee segment, we expect activity to stabilize during the second quarter of 2017.”
Next financial press release: Q2 2017 revenue, on July 18, 2017
Annual general meeting: the combined general meeting of Implanet
will be held on May 5, 2017 at 10:00 AM CET at the Company headquarters:
Technopole Bordeaux Montesquieu, Allée François Magendie, 33650
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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 2016 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 Compartment C of the Euronext™ regulated market in Paris.
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 26, 2016 under number R.16-035 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.