Implanet Announces 1st Quarter 2019 Revenue of €1.9 Million

  • 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

BORDEAUX, France & BOSTON–(BUSINESS WIRE)–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 3
rd
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.

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