Implanet Q2 Revenue Surges 23 Percent

It was a profitable spring for IMPLANET.

The developer of vertebral and knee-surgery implants posted a 23 percent revenue spike in the second quarter (ended June 30) to 2.1 million euros. Spinal sales surged 68 percent to 1.17 million euros, bolstered by a doubling of JAZZ sales in the United States for the second consecutive quarter, and a solid performance in France (up 35 percent) and the Rest of the World (up 45 percent).
 
“For the second straight quarter, we have recorded solid revenue growth, notably driven by the significant growth in JAZZ sales in all of our priority markets. Since its launch in mid-2013, and with almost 15,000 implants sold, we estimate the number of patients treated with JAZZ at more than 2,800, including almost 800 in the first half of 2016,” CEO Ludovic Lastennet said. “Positive clinical outcomes have resulted in considerable acceleration in the number of surgical procedures in both adult and adolescent indications, driving technology adoption and further enhancing our confidence in Implanet’s growth prospects.”
 
Over the quarter, Implanet sold 1,093 JAZZ units in France, 508 in the United States and 336 in the rest of the world, giving a total of 1,937 units and representing growth by volume of 42 percent.
 
Knee sales fell 7.5 percent to 932,000 euros, with the French market accounting for 70 percent of sales (644,000 euros) and recording 51 percent growth in the company’s home country. The gains partially offset weak demand in Brazil, where macroeconomic difficulties continued to limit performance.
 
Implanet’s first half revenue was up 24 percent to 4.09 million euros compared with the same period in 2015, driven by a 38 percent increase in spinal sales (2.01 million euros) and 12 percent spike in knee proceeds (2.08 million euros).
 
In the United States and France, markets on which Implanet markets JAZZ directly, the company recorded a solid performanc, with a doubling of U.S. spinal sales to 1.1 million euros and a 19 percent increase (637,000 euros) in France.

The company has accelerated the recruitment of surgeons, with 111 regular users of Jazz technology as of June 30. Of that total, 64 surgeons work in the United States and 47 practice in France.
 
Implanet has also continued its acceleration on the high-potential degenerative bone disorder segment. These surgical procedures generated growth of 137 percent to 520,000 euros over the half. At the same time, the company has continued to see an increase in JAZZ sales devoted to major deformity (scoliosis) operations on adolescents, recording growth of 57 percent to 1.12 million euros over the half.
 
In the Rest of the world, the 45 percent hike in spinal revenue partially offset a 26 percent decline in Brazilian sales (276,000 euros).
 
Altogether over H1 2016, Implanet sold 1,805 JAZZ units in France, 773 in the United States and 556 in the rest of the world, for a total of 3,134 units.
 
Founded in 2007, IMPLANET 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 U.S. Food and Drug Administration and the CE mark. IMPLANET recorded 2015 sales of 6.7 million euros. Based near Bordeaux, France, IMPLANET established a U.S. subsidiary in Boston, Mass., in 2013.

IMPLANET is listed on Compartment C of the Euronext regulated market in Paris, France.