Regulatory News:
IMPLANET (Euronext Growth: ALIMP, FR0013470168, eligible for
PEA-PME equity savings plans) (Paris:ALIMP), a medical technology
company specializing in implants for orthopedic surgery and the
distribution of technological medical equipment, today announced
its 2023 annual revenue and its cash position as of December 31,
2023.
Ludovic Lastennet, IMPLANET’s Chief Executive Officer,
stated: “While we closed 2023 with a good performance on the French
market, our annual revenue had been impacted by the slowdown of our
international activity. Against this backdrop, and as previously
announced, we actively worked to reorganize our US subsidiary, both
by investing in our local sales force and by registering new
solutions in this territory. 2024 should see an acceleration in the
marketing of products resulting from the commercial partnership
signed with Sanyou Medical in June 2022. This will include the
launch of a new range of hybrid posterior fixation system, and the
distribution in our various markets of new medical devices
resulting from collaboration between the French and Chinese R&D
teams. Finally, the commercial launch of our JAZZ® range in China
should start in the coming months, paving the way for a new
territory with significant growth potential. These achievements
will enable us to consolidate Implanet's position as an innovative
player in spinal surgery, both in France and internationally. We
recently announced a fundraising operation to ensure the commercial
development of our solutions and finance our cash requirements for
the next 12 months, for which Sanyou Medical has already committed
€5 million. This operation, open to all our shareholders, will be
launched on January 17, with preferential subscription rights.”
Fourth quarter 2023
In € thousands - IFRS1
2023
2022
Change
France
932
849
+10%
United States
318
389
-18%
Rest of the World
359
743
-52%
Spine revenue
1,608
1,981
-18%
Medical equipment (SMTP)
24
0
-
Services (MADISON)
11
72
-
Total fourth-quarter revenue
1,643
2,053
-20%
Spine activity recorded revenue of €1.64 million in the fourth
quarter of 2023, down 20% compared with the €2.05 million recorded
in the fourth quarter of 2022.
Activity in France grew by 10%, with revenue of €0.93 million
for the quarter, compared with €0.85 million for the same period in
2022. In the United States, following a reorganization of the
subsidiary's sales management in response to poor performance
recorded in this region, revenue came to €0.32 million for the
fourth quarter of 2023, compared with €0.39 million for the same
period in 2022. Export revenue to the Rest of the World came to
€0.36 million for the fourth quarter of 2023, compared with €0.74
million for the same period the previous year, down 52%, mainly due
to a decline in activity in Latin America.
The Company is also pursuing the deployment of its medical
equipment distribution activity with the ultrasound scalpel from
SMTP, a subsidiary of Sanyou Medical. Revenue generated by this
activity in the fourth quarter of 2023 amounted to €0.02
million.
2023 annual revenue
In € thousands - IFRS2
2023
2022
Change
Total first-quarter revenue
2,208
2,016
+10%
Total second-quarter revenue
2,060
2,096
-2%
Total third-quarter revenue
1,537
1,862
-17%
Total fourth-quarter revenue
1,643
2,053
-20%
Total 12 months
France
3,448
3,342
+3%
United States
1,364
1,667
-18%
Rest of the World
2,255
2,926
-23%
Annual Spine revenue
7,067
7,934
-11%
Annual medical equipment (SMTP)
303
-
Annual services (MADISON)
79
93
-
Total annual revenue
7,448
8,027
-7%
Overall, the Company reported revenue of €7.45 million in 2023,
compared with annual revenue of €8.03 million in 2022.
Spine activity recorded revenue of €7.07 million in 2023,
compared with €7.93 million in 2022. Revenue in France remained
stable at €3.45 million. Revenue in the United States in 2023
amounted to €1.36 million, down 18% from €1.67 million in the
previous year, due to the poor performance in the second half of
2023. Export revenue in the Rest of the World also fell by 23% over
the period, to €2.26 million in 2023 from €2.93 million in
2022.
The medical equipment distribution activity generated €0.30
million in 2023.
Cash position
As of December 31, 2023, the Company’s cash position stood at
€0.25 million. Based on current cash forecasts, the Company points
out that this level of cash will enable it to be financed until
February 2024.
As described in its press release of January 4, 2024, the
Company announced the launch of a €6.38 million issue of new shares
with preferential subscription rights, to which Sanyou (HK)
International Medical Holding Co., limited is committed to
subscribing up to €5.0 million.
Based on current business assumptions and anticipated commercial
developments with Sanyou Medical, the Company estimates that the
capital increase, for a minimum amount of €5 million, would provide
it, once completed, with financial visibility of more than 12
months3.
Reminder of 2023
highlights
- Commercial launch of the SMTP (Sanyou Medical subsidiary)
ultrasound scalpel;
- FDA clearance of the SqualeTM range of anterior cervical cages
in the United States;
- Commercial launch in Europe of the MIS range, a minimally
invasive pedicle screw positioning system;
- Launch of the surgeon training program with a view to marketing
the JAZZ® range in China.
Upcoming financial
publication
- 2023 Annual Results, on March 5, 2024, after market
About IMPLANET
Founded in 2007, IMPLANET is a medical technology company that
manufactures high-quality implants for orthopedic surgery and
distributing medical technology equipment. Its activity revolves
around a comprehensive innovative solution for improving the
treatment of spinal pathologies (JAZZ®) complemented by the product
range offered by Orthopaedic & Spine Development (OSD),
acquired in May 2021 (thoraco-lumbar screws, cages and cervical
plates). Implanet’s tried-and-tested orthopedic platform is based
on the traceability of its products. 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, the CE mark in Europe and ANVISA approval in Brazil. In
2022, IMPLANET entered into a commercial, technological and
financial partnership with SANYOU MEDICAL, China's second largest
medical device manufacturer. IMPLANET employs 43 staff and recorded
a consolidated revenue of €8.0 million in 2022. Based near Bordeaux
in France, IMPLANET opened a US subsidiary in Boston in 2013.
IMPLANET is listed on the Euronext Growth market in Paris.
For further information, please visit www.Implanet.com.
Disclaimer
This press release contains forward-looking statements about
Implanet and its business. Implanet believes that these
forward-looking statements are based on reasonable assumptions.
However, no assurance can be given that the forecasts expressed in
these forward-looking statements will materialize, as they are
subject to risks, including those described in Implanet's reference
document filed with the Autorité des marchés financiers (AMF) on
April 16, 2018 under number D.18-0337 and in the annual financial
report for December 31, 2022, which are available on the Company's
website (www.implanet-invest.com), and to changes in economic
conditions, financial markets and the markets in which Implanet
operates. The forward-looking statements contained in this press
release are also subject to risks that are unknown to Implanet or
that Implanet does not currently consider material. The occurrence
of some or all of these risks could cause Implanet's actual
results, financial condition, performance or achievements to differ
materially from those expressed in the forward-looking statements.
This press release is for information purposes only and does not
and shall not under any circumstances constitute an offer to sell
or subscribe, or the solicitation of an order to buy or subscribe,
Implanet securities in any country.
_______________
1 Unaudited 2 Unaudited 3 The Company reminds that
the interim financing in the form of dry bonds from which it
benefited in October 2023, subject to two tranches, representing a
nominal amount of €1,300,000, subscribed at 77% of the nominal
value of the bond, will have to be repaid at the latest within five
business days following the earlier of (i) April 30, 2024 and (ii)
the completion of the Capital Increase (press release of October
11, 2023).
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240115665417/en/
IMPLANET Ludovic Lastennet, CEO David Dieumegard, CFO
Tél. : +33 (0)5 57 99 55 55 investors@Implanet.com
NewCap Investor Relations Mathilde Bohin Nicolas Fossiez
Tél.: +33 (0)1 44 71 94 94 Implanet@newcap.eu
NewCap Media Relations Arthur Rouillé Tél.: +33 (0)1 44
71 94 94 Implanet@newcap.eu
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