IMPLANET Reports Q1 2022 Revenue
19 Avril 2022 - 6:00PM
Business Wire
- Q1 2022 revenue doubles to €2.02 million (vs. Q1 2021), driven
by the organic growth of its JAZZ activity and the strategic
acquisition of OSD
- Acceleration in activity in France (x2.7) and the rest of the
world (x2.6) compared with Q1 2021
Regulatory News:
IMPLANET (Euronext Growth: ALIMP, FR0013470168, eligible for
PEA-PME equity savings plans) (Paris:ALIMP), a medical technology
company specializing in vertebral implants, today announced its
revenue for the first quarter of 2022.
Ludovic Lastennet, IMPLANET’s CEO, commented: “The
beginning of 2022 has confirmed the merits of the strategic
repositioning implemented in 2021. Our decision to refocus on the
spine is showing its relevance, with a very good first-quarter
performance. In France, activity more than doubled compared with
the first quarter of last year, driven by the JAZZ activity’s
organic growth but also by the OSD range that has now been
incorporated within our sales offer. In the rest of the world,
sales have followed the same positive trend as in France, with
revenue multiplied by 2.6. The slight fall in revenue in the United
States was a result of the still considerable number of surgical
operations being postponed due to COVID early in the quarter.
Despite the context associated with the pandemic and the lack of
hospital personnel, which are still major obstacles to the return
to normal activity, our solid sales momentum makes us confident
that our growth will continue over the coming quarters”.
Revenue (in € thousands -
IFRS*)
Q1 2022
Q1 2021
Change
Spine
France
953
354
+169%
United States
372
416
-10%
Rest of the world
677
256
+164%
Total Spine revenue
2,002
1,026
+95%
Services
14
1
Total consolidated revenue,
IFRS
2,016
1,026
+96%
*Unaudited data
Reminder: As per IFRS 5, revenue generated by Madison activity
up to October 29, 2021 is classified as divested business under the
net profit/loss from continuing business.
In the first quarter of 2022, Spine revenue doubled from €1.03
million to €2.02 million, thanks to the organic growth generated by
JAZZ activity (+20%) and the strategic acquisition of OSD (which
contributed €0.77 million in revenue).
In France, activity was multiplied by 2.7, increasing from €0.35
million to €0.95 million, despite the still significant impact of
COVID-19 and hospitals’ lack of resources in the first two months
of the quarter. However, the trend observed in March is
encouraging.
In the United States, revenue totaled €0.37 million, compared
with €0.42 million in the first quarter of 2021. The first
surgeries with the OSD cervical plate were performed in the United
States – their contribution to associated revenue will be visible
in the second quarter of 2022.
In the rest of the world, revenue grew from €0.26 million in the
first quarter of 2021 to €0.68 million (multiplied by 2.6) in the
first quarter of 2022, notably driven by Latin America.
Lastly, within the framework of the divestment of the MADISONTM
knee prosthesis business to SERF, and to ensure the continuity of
regulatory obligations, Implanet signed a manufacturing contract.
These services were billed €14 thousand in the first quarter of
2022.
Key events of Q1 2022
✓ First surgical procedures in the United States with JAZZ™ PF,
innovative solution from the JAZZ® range
✓ First surgical operations in the United States with the ORIGIN
cervical plate, marking the first successes of the synergies with
OSD products
2022 strategy and
outlook
- Finalize the globalization of our product offer for Spine
surgery:
- Sustain the product synergies initiated in 2021 on our priority
direct sales markets;
- Address group purchasing organizations, both in the public
sector and in private facility groups.
- Revitalize our presence in the United States:
- Add to the existing commercial team;
- Strengthen our direct approach by expanding our opinion leader
scientific team;
- Launch, in 2022, two more product ranges resulting from the
acquisition of OSD: SWINGO and ORIGIN.
- Seek strategic partnerships to allow Implanet to enter a new
phase and achieve revenue leading to financial equilibrium in the
short / medium term.
Upcoming financial
events:
Annual General Meeting, May 17, 2022 at 2.00 pm (CEST) at
the Company’s headquarters H1 2021 revenue, July 11, 2022
after market
About IMPLANET
Founded in 2007, IMPLANET is a medical technology company that
manufactures high-quality implants for orthopedic surgery. Its
activity revolves around a comprehensive innovative solution for
improving the treatment of spinal pathologies (JAZZ®) complemented
by the product range offered by Orthopaedic & Spine Development
(OSD), acquired in May 2021 (thoraco-lumbar screws, cages and
cervical plates). 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 39 staff and recorded a consolidated
revenue of €6.1 million in 2021. Based near Bordeaux in France,
IMPLANET opened a US subsidiary in Boston in 2013. IMPLANET is
listed on the Euronext Growth market in Paris. For further
information, please visit www.implanet.com.
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/20220419005800/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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