Financial

Implanet Reports 2019 First-half Revenue of €3.8 Million

July 10, 2019

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

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

€ ‘000s – IFRS*20192018Change
Total first-quarter revenue1,9041,867+2%
Second-quarter   
Spine (JAZZ®)1,2441,148+8%
Knee670617+9%
Total second-quarter revenue1,9151,765+8%
First-half   
Spine (JAZZ®)2,3842,197+8%
Knee1,4341,434
Total first-half revenue3,8183,632+5%

*Unaudited data

Ludovic Lastennet, Implanet’s Chief Executive Officer, commented: “The positive trend of the first quarter was confirmed with an 8% revenue increase this quarter. Our teams’ absolute focus on strategic business development priorities and tight management of our finances are starting to deliver. Initial orders logged under the partnerships with Kico Knee and SeaSpine are encouraging, combined with completion of the first JAZZ® Cap surgeries in the United States and Europe. Implanet benefits from genuine strengths in its markets, thanks to innovative implant design supported by documented clinical results. In the coming months, we will continue to press ahead with the international expansion of our business, which will allow us to develop markets where the generated margins will help improve our profitability.”

In the second quarter of 2019, Implanet’s revenue totaled €1.92 million, up 8% from €1.77 million in Q2 2018. JAZZ® sales grew 8% to €1.24 million in the period (vs. €1.15 million in Q2 2018). Knee revenue moved up 9% to €0.67 million in the second quarter of 2019.

Over the first half of 2019, Implanet’s revenue increased 5% to €3.82 million. The Knee business reported first-half revenue of €1.43 million, stable compared to the equivalent period in 2018.

JAZZ® revenue in the first half rose 8% to €2.38 million from €2.20 million in 2018 on the back of a strong increase in the United States where JAZZ® sales grew 11% in the first half to reach €1.21 million. Revenue from the Rest of Europe rose 52% to €0.37 million. In France, sales declined 7% overall during the first half as a result of the postponement of some surgeries into July.

Overall, in the first half, Implanet sold 4,561 JAZZ® units across its three geographical regions, representing a 7% increase compared to the previous year (2018: 4,270 JAZZ® units).

First half 2019 highlights:

– 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 market access in this region; 
– 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; 
– The successful completion of the first JAZZ Cap® surgeries in the United States; 
– The recording of the first orders originating from the partnerships established with Kico Knee and SeaSpine, Inc.

Next press release: 2019 First half results, 23 September 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 (OCA, OCAPI, 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.

Contacts

Implanet 
Ludovic Lastennet, CEO 
David Dieumegard, CFO 
Tel.: +33(0)5 57 99 55 55 
investors@Implanet.com

NewCap 
Investor Relations 
Sandrine Boussard-Gallien 
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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Josh Sandberg

Josh Sandberg is the President of Ortho Spine Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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