VALENCE, France--(BUSINESS WIRE)--Regulatory News:
Amplitude Surgical (Paris:AMPLI) (ISIN: FR0012789667, Ticker: AMPLI, eligible for PEA-PME plans) (“Amplitude” or the “Group”), a leading French player on the global surgical technology market for lower-limb orthopedics, announces the decision of the Valence Judicial court in its dispute with URSSAF (employee and employer social security contribution collecting agency) pertaining to tax on the promotion of medical devices.
On December 17, 2018, URSSAF Rhône Alpes formally sent Amplitude SAS a deficiency notice regarding the tax on the promotion of medical devices for the period from July 1, 2014 to June 30, 2017 totaling €5.8 million1.
Via a motion filed on February 18, 2019, Amplitude SAS referred the case to the Amicable Appeal Board, which rejected the Company’s case on December 13, 2019.
Following this rejection, on December 23, 2019 Amplitude SAS asked the Valence Judicial Tribunal to invalidate the deficiency adjustment formally demanded on December 17, 2018. In a ruling of November 3, 2020, of which the Company was notified on December 2, 2020, the Valence Judicial Tribunal has rejected Amplitude SAS’ request to invalidate the adjustment.
Amplitude has decided to appeal this decision.
As a reminder, the Group has booked a provision for 100% of the risk in its financial statements in respect of this dispute.
Next financial press release
H1 2020-21 sales, on February 18, 2021, after market.
About Amplitude Surgical
Founded in 1997 in Valence, France, Amplitude Surgical is a leading French player on the global surgical technology market for lower-limb orthopedics. Amplitude Surgical develops and markets high-end products for orthopedic surgery covering the main disorders affecting the hip, knee and extremities, and notably foot and ankle surgery. Amplitude Surgical develops, in close collaboration with surgeons, numerous high value-added innovations in order to best meet the needs of patients, surgeons and healthcare facilities. A leading player in France, Amplitude Surgical is developing abroad through its subsidiaries and a network of exclusive distributors and agents distributing its products in more than 30 countries. Amplitude Surgical operates on the lower-limb market through the intermediary of its Novastep subsidiaries in France and the United States. At June 30, 2020, Amplitude Surgical had a workforce of 436 employees and recorded sales of nearly 88 million euros.
1 Refer to the Universal Registration Document 2019-2020, page 115, available on Amplitude's website (French version).