ALIMP Implanet

• JAZZ® revenue up 8%:
  • +5% in the USA
  • +31% in Europe outside France
• Strategic agreement with SeaSpine, Inc. for the distribution of JAZZ® in the USA
• First order for KICO Knee Innovation for knee implants

Regulatory News:

IMPLANET (Paris:ALIMP) (OTCQX:IMPZY) (Euronext Growth: ALIMP, FR0010458729, eligible for PEA-PME; OTCQX: IMPZY), a medical technology company specializing in vertebral and knee surgery implants today announced its revenue for the first quarter of 2019.

 

€ ‘000s – IFRS*

  Q1 2019   Q1 2018   Change Spine (JAZZ)   1,129   1,050   8% Knee   775   817   -5% Total revenue   1,904   1,867   2%

*Unaudited figures

Ludovic Lastennet, Implanet’s CEO, commented: “The beginning of 2019 has marked a turning point: revenue growth relative to 2018, a significant increase in the volume of JAZZ® sold, the signature of the contract with SeaSpine, Inc., a wholly owned subsidiary of SeaSpine Holdings Corporation (NASDAQ: SPNE) and the receipt of the first order for knee implants in Australia, to be delivered in the 3rd quarter. Our financial situation has also stabilized: while continuing to manage costs with rigorous discipline, the financing line we have recently signed ensures that we have sufficient cash for the coming year. We will therefore be able to concentrate on our operating performance, the development of our business in priority markets and the deployment of partnerships with KICO Knee and SeaSpine, Inc. which represent sources of future growth.”

In the first quarter of 2019, Implanet recorded revenue of €1.90 million, an increase of 2% (from €1.87 million in Q1 2018). Sales of the JAZZ® range increased by 8% to €1.13 million (from €1.0 million in Q1 2018). The Knee business line saw revenue decline by 5% to €0.77 million, affected by export sales, while France, which represented 92% of revenue, remained stable.

Sales of the JAZZ® range in the USA increased to €0.50 million (up 5%), with 484 units sold (up 14%), while in Europe outside France sales grew strongly to €0.23 million (up 31%) with volumes up 65% to 890 units. In France, sales were stable in the first quarter of 2018, at €0.40 million, with 1,026 units sold.

In total, over the first quarter of 2019, Implanet sold 2,400 JAZZ® units, an increase of 19% versus the first quarter of 2018.

Key developments in the first quarter of 2019:

• the signature of a strategic partnership with SeaSpine, Inc. to market the JAZZ® range in the USA, the world’s biggest market for the treatment of spinal pathologies. This contract, for an initial period of six years with guaranteed annual minimums, significantly increases sales reach in this territory;
• JAZZ Cap® FDA clearance, offering a unique and proprietary solution for securing pedicle screws in poor-quality bone. JAZZ Cap® technology strengthens the offering of JAZZ® products in the US;
• the introduction of a bond financing line of €3.0 million with Nice & Green, which secures cash coverage for the next twelve months.

Next press release: 2019 first half revenue, 10 July after market close.

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 surgery. Implanet’s tried-and-tested orthopedic platform, which is based on perfect control over the traceability of its products, provides it with a proven ability to promote this innovation. 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 38 staff and recorded 2018 sales of €6.7 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 equity line (BEOCABSA, OCA, BSA) and the number of shares outstanding, is available on its website: http://www.implanet-invest.com/suivi-des-actions-80

Disclaimer

This press release contains forward-looking statements concerning Implanet and its activities. Such forward looking statements are based on assumptions that Implanet considers to be reasonable. However, there can be no assurance that the anticipated events contained in such forward-looking statements will occur. Forward- looking statements are subject to numerous risks and uncertainties including the risks set forth in the registration document of Implanet registered by the French Financial Markets Authority (Autorité des marchés financiers (AMF)) on April 16, 2018 under number D.18-0337 and available on the Company's website (www.implanet-invest.com), and to the development of economic situation, financial markets, and the markets in which Implanet operates. The forward-looking statements contained in this release are also subject to risks unknown to Implanet or that Implanet does not consider material at this time. The realization of all or part of these risks could lead to actual results, financial conditions, performances or achievements by Implanet that differ significantly from the results, financial conditions, performances or achievements expressed in such forward-looking statements. This press release and the information it contains do not constitute an offer to sell or to subscribe for, or a solicitation of an order to purchase or subscribe for Implanet shares in any country.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190424005818/en/

ImplanetLudovic Lastennet, CEODavid Dieumegard, CFOTel.: +33(0)5 57 99 55 55investors@Implanet.com

NewCapInvestor RelationsSandrine Boussard-GallienTel.: +33 (0)1 44 71 94 94Implanet@newcap.eu

NewCapMedia RelationsNicolas MerigeauTel.: +33 (0)1 44 71 94 94Implanet@newcap.eu