Implanet Reports 3Q16 Revenue
Implanet posted 3Q16 revenue of €1.4MM (~US $1.7MM), -11.6% vs. 3Q15.
ORTHOWORLD estimates 3Q16 segment sales and growth on an as-reported basis, as follows.
- Knee Reconstruction ~$0.5MM, -29.9%
- Arthroscopy/Soft Tissue Repair ~$0.2MM, -27.6%
- Spine ~$0.9MM, +8.8%
Within spine, leadership noted that adult degenerative bone disorder product sales grew +145% for 3Q16 vs. 3Q15, and epxressed that the JAZZ product platform is continuing to increase in France and the U.S.
For 3Q16, Implanet logged JAZZ sales of 1,505 units, +22% vs. 3Q15: France 824, U.S. 340 and Rest of World 341.
As of 9/30/16, the company was serving 116 surgeon customers in direct markets, +61% from 72 last year, with 66 of those in the U.S. (+83%) and 51 in France (+41%).
A temporary postponement of knee implant deliveries in Brazil, totaling €0.25MM (~$0.28MM), affected 3Q sales in that region as a credit insurance ceiling was reached there.
At the end of 3Q16, the company announced initial positive results following use of the Jazz Lock spinal implant in >25 cases. Full global launch is slated to occur by year-end.
Sources: Implanet, ORTHOWORLD Inc.