IMPLANET Announces the Divestment of Its Knee Prosthesis Range to Refocus on Its Spine Business
02 Novembre 2021 - 08:00AM
Business Wire
- Completion of the sale of the MADISONTM range’s assets to the
MENIX Group’s SERF company for €5 million
- Strengthening of the JAZZ® and OSD spine surgery ranges
Regulatory News:
IMPLANET (Euronext Growth: ALIMP, FR0013470168, eligible for
PEA-PME equity savings plans), a medical technology company
specialized in vertebral and knee-surgery implants, today announces
the completion of the sale on October 29, 2021 of its MADISONTM
knee prosthesis business to the MENIX Group’s SERF company for a
total of € 5.0 million to which a price supplement will be
added.
Ludovic Lastennet, IMPLANET’s CEO, said: “Strategically
decided in 2020 and initiated in early 2021 with the acquisition of
OSD, the refocus on our Spine business is materializing with the
divestment of our MADISONTM knee prosthesis range to French group
MENIX. This operation will allow IMPLANET to devote 100% of its
resources to its historical activity. Our objective is henceforth
to become an innovative and leading player on the spine surgery
segment and to offer surgeons and patients outstanding products for
treating major pediatric deformities and adult degenerative
disorders that account for the majority of surgical procedures on
our priority markets”.
Announced on September 23, 2021, this divestment of the
MADISONTM range concerns the entire activity, from the design to
the marketing of the implants. In order to ensure the continuity of
regulatory obligations, a contract under which IMPLANET will
continue to manufacture the products and an exclusive distribution
contract by SERF have also been signed between the parts. This
transition period will end 6 months after SERF has obtained the CE
mark.
The sale price of €5.0 million will be subject to an adjustment
related to the inventory items sold. A first installment of €2.7
million was paid on October 29, 2021 and the balance will be paid
in instalments over time depending on the achievement of regulatory
milestones related to the CE marking. In addition, a price
supplement of up to €0.5 million is also planned for IMPLANET, paid
in the form of a commission on sales made by SERF with the KiCO
partner.
This operation is in line with IMPLANET’s stated intention of
positioning itself as a benchmark player in the treatment of spinal
disorders. The Company is now fully focused on developing its
strategic Spine business, and the financial resources resulting
from this divestment will be used to strengthen the JAZZ® and OSD
ranges, accelerate sales momentum and continue the Company’s
intellectual protection strategy.
The MADISONTM business, to which a collaborator was attached,
generated revenue of €2.1 million with a current operating income
of €0.1 million and an operating loss of €0.2 million in 2020. In
the first nine months of fiscal year 2021, this activity generated
revenues of €1.5 million.
Upcoming financial event: - 2021 annual revenue,
January 18, 2022 after market close* * Date subject to
modification
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
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version on businesswire.com: https://www.businesswire.com/news/home/20211102005439/en/
IMPLANET Ludovic Lastennet, CEO David Dieumegard, CFO
Tel.: +33 (0)5 57 99 55 55 investors@Implanet.com
NewCap Investor Relations Mathilde Bohin Nicolas Fossiez
Tel.: +33 (0)1 44 71 94 94 implanet@newcap.eu
NewCap Media Relations Nicolas Merigeau Tel.: +33 (0)1 44
71 94 94 implanet@newcap.eu
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