Implanet: 20% Increase in Revenue In Q3 2017

Implanet: 20% Increase in Revenue In Q3 2017

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October 10, 2017

BORDEAUX, France & BOSTON–(BUSINESS WIRE)–Regulatory News:

IMPLANET (Paris:IMPL) (OTCQX:IMPZY) (Euronext Growth: ALIMP, FR0010458729, PEA-PME eligible), a medical technology company specializing in vertebral and knee-surgery implants, today announces its sales for the third quarter and first nine months to September 30, 2017.

Ludovic Lastennet, CEO of Implanet, says: “The Group’s activity was solid last quarter. The increase in Jazz® sales in Q3 2017 represented the best quarterly improvement since the start of the year, confirming the success of the Jazz® technological platform’s expansion across all of our territories. France and the Rest of the World are continuing to grow. In the United States, our efforts about getting Jazz®’s clinical value acknowledged and recruiting and training partners of greater size are beginning to bear fruit. These encouraging results illustrate our ability to generate sustained growth in Jazz® revenue quarter after quarter.

Revenue (in € thousands – IFRS*) 2017 2016 Change
1st quarter 2,048 1,988 +3%
2nd quarter 2,071 2,107 -2%
Spine (JAZZ) 1,104 848 +30%
Knee + Arthroscopy 671 633 +6%
Total 3rd quarter 1,774 1,481 +20%
Spine (JAZZ) 3,506 2,860 +23%
Knee + Arthroscopy 2,387 2,715 -12%
9-month revenue 5,894 5,576 +6%

*Unaudited data

Sales in the first 9 months were up 6% to €5.9 million (from €5.6 million), confirming the successful deployment of Jazz® technology across all regions.

Jazz® sales recorded growth of 30% to €1.1 million in Q3 2017, the strongest quarterly growth since the start of the year. Over the first nine months of 2017, Jazz® sales were up by 23% (close to 60% of total revenue vs. 51% in 2016).

Jazz® sales were up in every region over the quarter: 10% to €0.3 million in France and 159% to €0.3 million in the rest of the world. Over the first nine months of the year, Jazz® sales were up 20% to €1.1 million in France and by 117% to €0.8 million in the rest of the world.

In the rest of the world, the performance was driven by longstanding distributors and by Jazz® launch in new European countries.

In the United States, Jazz® sales were up 12% (16% at constant currency) to €0.5 million in Q3. The strategy of partnering with larger players is beginning to bear fruit, enabling us to accelerate the recruitment of new surgeons.

On markets where the Company operates directly, i.e. France and the United States, the penetration of the adult degenerative bone disorder market – which is acyclic and has substantial potential – keeps growing; sales were up 5% to €0.3 million over the quarter. Pediatric activity also increased 20% over the quarter to €0.5 million.

In the quarter, Implanet sold 1,655 Jazz® units (vs. 1,505 in Q3 2016). Over the first nine months of the year, Implanet thus sold a total of 6,296 units (vs. 4,623 in 2016).

As anticipated, the Knee segment saw sales stabilize with growth of 6% to €0.7 million in the third quarter, the gradual discontinuation of the distribution of arthroscopy activity having been completed. Sales of the proprietary product Madison (knee prosthesis) were flat on the first nine months of the year.

IMPLANET will participate in the following Scientific Congress in Q4 2017:
NASS in Orlando, October 25 to 28, 2017
SOFCOT in Paris, November 6 to 9, 2017

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. 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 48 staff and recorded 2016 sales of €7.8 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.

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 26, 2016 under number R.16-035 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.

Contacts

IMPLANET
Ludovic Lastennet
CEO
Tel. : +33 (0)5 57 99 55 55
investors@implanet.com
or
NewCap
Investor Relations
Florent Alba
Tel. : +33 (0)1 44 71 94 94
implanet@newcap.eu
or
NewCap
Media Relations
Nicolas Merigeau
Tel. : +33 (0)1 44 71 94 98
implanet@newcap.eu
or
AlphaBronze
US-Investor Relations
Pascal Nigen
Tel.: +1 917 385 21 60
implanet@alphabronze.net

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