BORDEAUX, France & BOSTON--(BUSINESS WIRE)--Regulatory News:
IMPLANET (Paris:ALIMP) (OTCQX:IMPZY) (Euronext Growth: ALIMP, FR0010458729, eligible for PEA-PME equity savings plans; OTCQX: IMPZY), a medical technology company specializing in vertebral and knee-surgery implants, announces the opening of a branch in the United Kingdom, accelerating expansion and direct growth in the growing adult degenerative market.
The Implanet UK branch will capitalise on the success of the approach adopted in France and the United States, where local teams have built up a mixed network of direct sales representatives and exclusive sales agents. Implanet is replicating this proven sales model, with focus on the main European markets. The Implanet UK branch is led by an experienced team, which will penetrate the market for adult degenerative spine disease, with first surgeries planned for June 2018. The partnership with Lindare Medical, the current distributor specialising in paediatric surgery, is continuing to progress.
Ludovic Lastennet, Chief Executive Officer of Implanet, comments: “Following the announcement of JAZZ Evo® last month, the opening of this branch in the United Kingdom confirms the roll-out of our strategy in the lucrative market of adult degenerative spine disease. This marks a major step forward in our commercial development in Europe, in particular the replication of the proven direct sales model used in France and the United States. This model facilitates direct customer contact and allows us to be more responsive to the clinical needs of surgeons and patients. The team is already operational, with in-depth knowledge of our JAZZ® technology. We are confident in the roll-out of JAZZ® in the British market for adult degenerative spine disease, estimated at over $100 million1. This structural move fits in with our 2018-2019 strategic plan, which aims to promote the Implanet range directly in key European markets and prepare for the integration of the products offered by our partner L&K Biomed.”
Next press release: first-half 2018 sales on Wednesday 11 July 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 46 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
1 Mordor Intelligence 2017 study