Paris, April 28, 2015 – IMPLANET (Euronext: IMPL, FR0010458729, PEA-PME eligible), a medical technology company specializing in vertebral and knee-surgery implants, today announces its revenue for the 1st quarter of 2015.
Ludovic Lastennet, CEO of Implanet, says: “The fall in first quarter revenue was due to a downturn in our Knee activity within a highly-competitive context, and our withdrawal from the Hip market in mid-2014. As described over the last 18 months, our development plan is focused on the strong growth of our JAZZ spinal surgery implant. JAZZ has again achieved excellent quarterly growth, notably in the key United States market. We continue our efforts and are confident of rapid JAZZ acceleration in all markets, driven by recently published clinical and medico-economic results, and the expected clearance of product range additions in the coming weeks in Europe and the United States. The funds raised through our recent capital increase will enable continued acceleration of our development strategy, with particular focus in the United States.”
In the 1st quarter of 2015, Implanet recorded revenue of €1,599 thousand (-21.9%). This included €822 thousand of international sales, which accounted for 51% of total revenue, driven by the growing contribution of the United States (12%) and the weight of JAZZ implants in the product mix.
Revenue from Spine activity (JAZZ), the Company’s core business and priority development area, recorded substantial growth to €755 thousand (+77.6%). This growth in JAZZ sales remained uniform across all markets, with France, the United States and the rest of the world accounting for 34%, 26% and 40% of Spine revenue, respectively.
Over the first quarter of the year alone, Implanet sold 579 JAZZ units in France, 162 in the United States and 1,070 elsewhere in the world, giving a total of 1,811 units, representing growth of +69% in terms of volume compared with 1,072 units in Q1 2014 and the equivalent of 43% of the entire number of JAZZ implants sold in 2014.
Revenue from Knee activity came to €844 thousand (-32.2%), due to a significant slowdown in activity in January in France, as a result of a doctor’s strike, and a slowdown in certain export markets as a result of substantial purchases at the end of 2014. The withdrawal from Hip activity during the first two quarters of 2014 will impact the growth in total revenue over the first half of 2015, but will have no further impact from Q3 2015.
Moreover, the Company has renegotiated its venture loan with more advantageous terms, which will enable it to reduce its cash burn by almost €100 thousand a month.
About IMPLANET
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 surge 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 45 staff and recorded 2014 sales of €7.0 million. For further information, please visit www.implanet.com. Based near Bordeaux in France, IMPLANET established a US subsidiary in Boston in 2013.
Contacts
IMPLANET Ludovic Lastennet CEO Tel.: +33 (0)5 57 99 55 55 [email protected]
NewCap Investor Relations Florent Alba Tel.: +33 (0)1 44 71 94 94 [email protected]
NewCap Press Relations Nicolas Merigeau Tel.: +33 (0)1 44 71 94 98 [email protected]