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Product / Company Performance

Implanet reports 4Q18 revenue of €1.5MM (USD 1.8MM), -21.5% vs. 4Q17 -

By Mike Evers, ORTHOWORLD

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  $1.8 $2.3 -$0.5 -21.5%
  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  $8.0 $9.3 -$1.3 -14.2%

Sources: Implanet; ORTHOWORLD estimates.

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

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