Implanet reports 2Q19 revenue of €1.9MM (USD $2.2MM), +8.4% vs. 2Q18

Implanet, a French spine and knee implant company, posted 2Q19 revenue of €1.9MM (USD $2.2MM), +8.4% vs. 2Q18, with 1H19 revenue of €3.8MM (USD $8.0MM), +5.2% vs. 1H18.

• Spine revenue grew 8.5% in the half driven by strong sales in the U.S. and European countries outside of France. Sales in France declined -7% due to surgeries postponed until July.
• Implanet entered a strategic partnership with SeaSpine to market the Jazz line of spine products in the U.S. The contract spans a six-year period with guaranteed annual minimums.
• In addition to the first orders from the SeaSpine partnership, Implanet also recorded the first orders from their partnership with Kico Knee for the Madison knee prosthesis.
• The first U.S. surgeries for the Jazz Cap, a proprietary for securing screws in poor quality bone, were completed within the half.

ORTHOWORLD estimates segment sales and growth on an as-reported basis as follows ($MM).

Sources: Implanet; ORTHOWORLD estimates.

Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.