- Complete income of €7.7 million, +29% together with the divested MADISONTM exercise
- Profitable strategic repositioning: strengthening of the Backbone enterprise (+62% in 2021) with the acquisition of OSD and divestment of the MADISONTM exercise
January 18, 2022
BORDEAUX, France & BOSTON–(BUSINESS WIRE)–Regulatory Information:
IMPLANET (Euronext Progress: ALIMP, FR0013470168, eligible for PEA-PME fairness financial savings plans), a medical know-how firm specialised in vertebral implants, right this moment introduced its 2021 fourth-quarter income, annul income and money place at December 31, 2021.
Ludovic Lastennet, IMPLANET’s CEO, mentioned: “The strategic shift undertaken on the finish of 2020 enabled us to realize, in below six months in 2021, the acquisition of OSD, strengthening our Backbone enterprise, and the divestment of our MADISONTM Knee exercise to SERF (MENIX group), confirming our refocus on the JAZZ® and OSD ranges. The advantages of those two operations are already seen, our income rising by 58% excluding MADISONTM exercise. Our Backbone enterprise noticed robust development over the 12 months, each in France and overseas, regardless of the nonetheless substantial affect of the pandemic on the scheduling of surgical operations. In 2022, we intend to proceed the industrial improvement of our ranges and to accentuate our development on our conventional phase whereas capitalizing on the latest partnerships now we have signed, the objective being to make Implanet a key participant within the therapy of spinal pathologies”.
Income, IFRS – MADISONTM exercise restated1
|Income (€ ‘000s – IFRS*)||2021||2020||Change|
|Knee & Arthroscopy||15||43||-65%|
|Complete fourth-quarter income||1,765||1,106||+60%|
|Knee & Arthroscopy||38||125||-69%|
|Complete full-year income||6,140||3,892||+58%|
Income at fixed scope – excluding restatement of MADISONTM exercise
|Income (€ ‘000s – IFRS*)||2021||2020||Change|
|Knee & Arthroscopy2||155||604||-74%|
|Complete fourth-quarter income||1,905||1,668||+14%|
|Knee & Arthroscopy||1,633||2,244||-27%|
|Complete full-year income||7,735||6,012||+29%|
Within the fourth quarter of 2021, Implanet recorded very strong development in its Backbone enterprise (+65%), notably because of the strategic acquisition of OSD. Exercise in France tripled to €0.9 million in This autumn, whereas exercise within the Remainder of the World additionally nearly tripled, reaching €0.7 million. In america, exercise continued to be closely impacted by Covid-19.
Over 2021 as a complete, consolidated income, restated for MADISONTM exercise in accordance with IFRS 5, totaled €6.1 million, a rise of +58% in contrast with the earlier 12 months. Excluding this restatement of MADISONTM exercise, income was €7.7 million, and was thus up 29% in contrast with 2020.
Backbone exercise recorded very robust development of 62%, with income totaling €6.1 million in 2021. OSD’s contribution to income (between Could 19 and December 31, 2021) corresponded to €2.0 million. Therefore, regardless of the nonetheless substantial affect of COVID-19 in 2021, the Backbone enterprise generated natural development of seven%.
In France, Backbone exercise greater than doubled to €2.7 million. The Remainder of the World represented €2.0 million, giving very buoyant development of 168% in contrast with 2020. Lastly, america noticed income decline by 20% to €1.4 million. This lower was primarily because of surgical operations being postponed and SeaSpine’s orders being pushed again.
At December 31, 2021, Implanet had a money place of €1.9 million. On the identical time, the fee of the remaining steadiness of the divestment worth of the MADISONTM knee enterprise, i.e. €2.3 million, can be unfold over time relying on the achievement of regulatory milestones associated to the CE marking, with €0.6 million of this steadiness anticipated to be acquired in 2022. Lastly, in January 2021 the Firm signed a convertible bond program with Good & Inexperienced for a complete of €5.0 million. At December 31, €2.1 million continues to be out there and stays to be subscribed to by Good & Inexperienced.
Key 2021 highlights
- Acquisition of Orthopaedic & Backbone Growth (“OSD”), which makes a speciality of creating, manufacturing and advertising and marketing implants for backbone surgical procedure
- Signing of a distribution contract in Germany with ulrich GmbH & Co. KG for Implanet’s JAZZ® implants and the OSD cervical plate
- Signing of an unique settlement with GLOBUS MEDICAL for the distribution of its REFLECT® scoliosis correction system to fifteen French college facilities specialised in pediatric backbone surgical procedure
- Divestment of the MADISONTM knee prosthesis vary to the MENIX Group’s SERF firm
2022 technique and outlook
- Finalize the globalization of our product provide for Backbone surgical procedure:
- Maintain the product synergies initiated in 2021 on our precedence direct gross sales markets;
- Tackle rising group buying points, each within the public sector and in non-public facility teams.
- Revitalize our presence in america:
- Add to the prevailing industrial workforce;
- Strengthen our direct method by increasing our opinion chief scientific workforce;
- Launch, in 2022, two extra product ranges ensuing from the acquisition of OSD, SWINGO and ORIGIN.
- Search strategic partnerships to permit Implanet to enter a brand new section and obtain monetary equilibrium within the quick / medium time period.
Upcoming monetary occasions:
The Firm will quickly announce its schedule for the publication of monetary info for 2022.
Based in 2007, IMPLANET is a medical know-how firm that manufactures high-quality implants for orthopedic surgical procedure. Its exercise revolves round a complete revolutionary answer for enhancing the therapy of spinal pathologies (JAZZ®) complemented by the product vary supplied by Orthopaedic & Backbone Growth (OSD), acquired in Could 2021 (thoraco-lumbar screws, cages and cervical plates). Implanet’s tried-and-tested orthopedic platform relies on the traceability of its merchandise. Protected by 4 households of worldwide patents, JAZZ® has obtained 510(ok) regulatory clearance from the Food and Drug Administration (FDA) in america, the CE mark in Europe and ANVISA approval in Brazil. IMPLANET employs 29 employees and recorded a consolidated income of €6.1 million in 2021. Primarily based close to Bordeaux in France, IMPLANET opened a US subsidiary in Boston in 2013. IMPLANET is listed on the Euronext Progress market in Paris. For additional info, please go to www.implanet.com.
The Firm wish to remind readers that the desk for monitoring the fairness line (OCA, BSA) and the variety of shares excellent is offered on its web site: http://www.implanet-invest.com/suivi-des-actions-80
1 In accordance with IFRS 5 “Non-current property held on the market and discontinued operations”, income generated by MADISON exercise as much as October 29, 2021 (date of its divestment to SERF) can be categorised as divested enterprise beneath the working revenue/loss. In distinction, fee permitting the continuity of the regulatory obligations in the course of the transition interval will proceed to be categorised as income within the “Knee and Arthroscopy” product typology.
2 Together with MADISON exercise till 10/29/2021.
Ludovic Lastennet, CEO
David Dieumegard, CFO
Tel.: +33 (0)5 57 99 55 55
Tel.: +33 (0)1 44 71 94 94
Tel.: +33 (0)1 44 71 94 94