Implanet, a French spine and knee implant company, posted 4Q18 revenue of €1.5MM (USD 1.8MM), -21.5% vs. 4Q17, with 2018 revenue of €6.7MM (USD $8.0MM), -14.2% vs. 2017. The decline was primarily due to the decision to switch from a distributor model to direct sales in European spine markets, following successful use of this method in France and the U.S. Implanet now has a branch in the U.K., as well as a subsidiary in Germany, where the first surgery was performed in 4Q18. Sales of the Jazz spinal implant continued to grow in countries where the company operates directly, rising by 8% in France and 2% in the U.S.
Looking ahead to 2019, Implanet’s strategic plan is to:
- Continue implementation of direct sales in European markets
- Continue partnership with Kico Knee to distribute the Madison knee implant in the U.S. and Australia
- Finalize a commercial partnership to roll out the Jazz implant in the U.S. in 1Q19
- Halt sports medicine business as of end of 2018
ORTHOWORLD estimates segment sales and growth on an as-reported basis as follows.
| 4Q18 | 4Q17 | $ Change | % Change |
| Knees | $0.8 | $0.8 | $0.0 | -5.4% |
| Spine | $1.0 | $1.5 | -$0.5 | -30.4% |
| Sports Medicine | $0.1 | $0.1 | $0.0 | -5.4% |
| Total | $1.9 | $2.4 | -$0.5 | -20.9% |
| FY18 | FY17 | $ Change | % Change |
| Knees | $2.9 | $3.5 | -$0.6 | -16.0% |
| Spine | $5.0 | $5.8 | -$0.8 | -13.1% |
| Sports Medicine | $0.3 | $0.3 | -$0.1 | -16.0% |
| Total | $8.3 | $9.7 | -$1.4 | -14.3% |
Sources: Implanet; ORTHOWORLD estimates.
Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.
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