BORDEAUX, France & BOSTON--(BUSINESS WIRE)--Regulatory News:
IMPLANET (Paris:ALIMP) (OTCQX:IMPZY) (Euronext Growth: ALIMP, FR0010458729, PEA-PME eligible; OTCQX: IMPZY), a medical technology company specializing in vertebral and knee-surgery implants, is today announcing its revenue for the fourth quarter and for the financial year ended December 31, 2017.
Ludovic Lastennet, CEO of IMPLANET, says: “The increase in JAZZ® sales in 2017 confirmed the success of our international roll-out of JAZZ® technology, as we moved into new markets such as Germany, Australia and New Zealand. The acceleration of our commercial development is also reflected by the talks we are currently holding with L&K BIOMED Co. which will enable us, among other things, to have direct access to additional surgeons in North America. Market recognition of the technological benefits of the JAZZ® Platform grows quarter after quarter. This, together with the tight management of our expenses, will have a positive impact on our performance. As a result, we remain confident in our growth prospects in all regions.”
|Revenue (in thousands of euros - IFRS)||2017||2016||Change|
|Knee + Arthroscopy||739||1,008||-27%|
|Total fourth-quarter revenue||1,947||2,249||-13%|
|Knee + Arthroscopy||3,126||3,723||-16%|
|Total full-year revenue||7,841||7,825||-|
Fourth-quarter 2017 revenue came to €1.9 million including the anticipated 27% decline in the Knee business to €0.7 million, pursuant to closure of arthroscopy implant distribution, first announced in early 2017. Although revenue from the JAZZ® business remained stable at €1.2 million, volumes showed a significant increase due to the country mix (number of units sold up 16% to 2,821 in the fourth quarter of 2017 compared to 2,437 last year).
Over 2017 as a whole, IMPLANET’s revenue totaled €7.8 million, on the back of strong JAZZ® sales growth (up 30% in volume to 9,117 units and up 15% in value) to €4.7 million.
Thanks to this increase, JAZZ® sales, IMPLANET’s core business, now contributes 60% of total revenue (52% in 2016).
In France, IMPLANET sold 4,101 JAZZ® units, generating €1.5 million in revenue (up 16%). A total of 3,479 units (up 74%) were sold in the rest of the world, generating €1.2 million in revenue (up 58%). These performances reflect the fast pace of international expansion, with the establishment of a commercial presence in new countries such as Germany, Europe’s #1 spinal surgery market, Australia and South America.
In the United States, 1,537 JAZZ® units were sold (up 6%) generating €2.0 million in revenue, stable compared to 2016. As announced in December 2017, following the preliminary agreement with South Korean company L&K BIOMED Co., Ltd, talks continue about pooling the resources of both companies in the United States. This agreement should enable IMPLANET to accelerate its US growth by significantly increasing direct surgeon access.
Although sales of our total knee prosthesis, a proprietary product, were stable, the Knee business recorded a 16% decline following the planned closure of arthroscopy distribution.
Next financial press release: full-year 2017 results on Thursday, March 14, 2018
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 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