BORDEAUX, France & BOSTON--(BUSINESS WIRE)--Regulatory News:
IMPLANET (Euronext Growth: ALIMP, FR0013470168, eligible for PEA-PME equity savings plans), a medical technology company specializing in vertebral and knee-surgery implants, today announces its revenue for the second quarter of 2021.
Ludovic Lastennet, Implanet’s CEO, said: “The level of revenue generated in recent months substantiates the first stage of OSD’s integration. In the first half of 2021, we recorded a significant increase in Spine activity in comparison with the first half of 2020, returning to the performance observed in 2019 over the same period. The combination of our implant ranges has positioned us as a heavyweight in spine surgery, both in France and abroad. It has already led to the signing of a distribution contract in Germany with ulrich medical®, further strengthening our presence in Europe’s largest spine market. Lastly, we are confidently reiterating our objective of achieving a critical mass in terms of revenue in 2021 – indeed, the integration of OSD’s activity on a pro forma basis from January 1, 2021 would have enabled the Group to record H1 revenue of €4.99 million.”
2021 henceforth includes revenue recorded by OSD, recorded from May 19, 2021 (i.e. €0.52 million), which is booked under Spine activity.
In € thousands - IFRS1 |
2021 |
2020 |
2019 |
|||
Total 1st quarter revenue |
1,678 |
1,567 |
1,904 |
|||
2nd quarter |
|
|
|
|||
Spine |
1,551 |
782 |
1,244 |
|||
Knee |
488 |
246 |
670 |
|||
Total 2nd quarter revenue |
2,040 |
1,028 |
1,915 |
|||
1st half |
|
|
|
|||
Spine |
2,577 |
1,510 |
2,384 |
|||
Knee |
1,141 |
1,085 |
1,434 |
|||
Total 1st half revenue |
3,718 |
2,595 |
3,818 |
Second quarter of 2021
In the second quarter of 2021, Implanet recorded revenue of €2.04 million, twice that recorded in the same quarter of 2020, strongly impacted by the first lockdown, and up 7% on the same period of 2019, despite a public health situation that is continuing to considerably slow surgical activity in hospitals around the world.
Implanet’s focus on Spine activity and the integration of OSD since May 19, 2021 have enabled it to double its Spine sales compared with 2020 (+98%) and generate growth of 25% compared with the same period of 2019.
In France, Spine sales were up 166% compared with Q2 2020 and up 66% compared with Q2 2019, reaching €0.68 million. In the United States, Spine sales increased by +20% compared with Q2 2020, representing revenue of €0.48 million. In the rest of the world, sales tripled compared with Q2 2020 (sales having been stable between Q2 2019 and 2020), with revenue totaling €0.39 million.
Madison activity doubled compared with Q2 2020, with revenue totaling €0.49 million, despite the public health crisis and the postponement of the first surgical procedures scheduled in the United States until early Q3 2021.
First half of 2021
In the first half of 2021, Implanet generated revenue of €3.72 million, up 43% compared with H1 2020 and stable compared with the activity recorded in the first half of 2019 (-3%).
Thanks to the strategic acquisition of OSD, completed in the first half of 2021, Spine activity saw a substantial increase of 71% compared with H1 2020, to €2.58 million. Activity was also up 8% compared with H1 2019.
Despite the impact of the public health crisis, which has still been significant since the start of 2021, Madison activity was up 5% compared with H1 2020.
Cash position
At June 30, 2021, Implanet had a cash position of €0.37 million. At the same time, in January 2021 the Company signed a bond financing program with Nice & Green for a total of €5.0 million. As of the date of this press release, €3.60 million was still available and to be subscribed by Nice & Green.
Outlook
With the integration of OSD in May 2021, Implanet now has a comprehensive range of innovative products for spine surgery. The two structures’ geographical complementarity also offers international development prospects for the entire range.
In the second half of 2021, activity should accelerate notably thanks to:
- the postponement of the first Madison surgical procedures in the United States, within the framework of the strategic partnership with KICO;
- the first spine surgical procedures following the exclusive agreement for the distribution of GLOBUS MEDICAL’s REFLECT® range to 15 French university centers specializing in pediatric spine surgery;
- the first deliveries of JAZZ implants and OSD cervical plates to ulrich medical within the framework of the distribution contract signed in June. As a reminder, ulrich medical is one of Germany’s largest manufacturers of spinal implants.
Upcoming financial event:
- H1 2021 results, September 21, 2021, after market close
About IMPLANET
Founded in 2007, IMPLANET is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its activity revolves around two product ranges, a comprehensive innovative solution for improving the treatment of spinal pathologies (JAZZ® and OSD), as well as the MADISON implant for first-line prosthetic knee surgery. Implanet’s tried-and-tested orthopedic platform is based on the traceability of its products. 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, the CE mark in Europe and ANVISA approval in Brazil. IMPLANET employs 29 staff and recorded sales of €6.0 million in 2020. For further information, please visit www.implanet.com. Based near Bordeaux in France, IMPLANET opened a US subsidiary in Boston in 2013. In May 2021, IMPLANET acquired Orthopaedic & Spine Development (OSD), which specializes in developing, manufacturing and marketing implants for spine surgery and offers a product range that complements the latest generation JAZZ® implant (thoraco-lumbar screws, cages and cervical plates). IMPLANET is listed on the Euronext Growth market in Paris.
The Company would like to remind readers that the table for monitoring the equity line (OCA, BSA) and the number of shares outstanding is available on its website: http://www.implanet-invest.com/suivi-des-actions-80
1 Unaudited data
