Implanet reported fourth quarter and full year revenue for 2014.
"Backed by a firmly established organization, a 25-agency sales network in the United States and a relevant economic proposal, we will do our utmost to further this dynamic in 2015," said CEO Ludovic Lastennet. "We are now more than ever convinced that the sublaminar implant is on the verge of becoming the global benchmark in the surgical treatment of major deformity and will henceforth strive to prove its efficiency in the field of degenerative bone disorders."
Here are 10 key notes on the report:
1. Total fourth quarter revenue was up 7 percent. The different segments were:
• Knee and arthroscopy — up 6 percent
• Spine — up 138 percent
• Hip — down 57 percent
2. The company sold 1,196 JAZZ implants in the fourth quarter, compared to 593 in the same period last year. There were 170 more operations carried out.
3. Full year revenue was up 5 percent, which was impacted by the company withdrawing hip activity. Excluding hip activity, the company saw a 28 percent revenue growth.
4. French sales were up 57 percent.
5. Export sales were 43 percent of 2014 revenue, and the company plans to continue growth in America, which is 12 percent of last year's revenue.
6. More than 600 JAZZ implant operations occurred in 2014.
7. Implanet sold 4,260 JAZZ implants in 2014, up from 1,829 in 2013. There were more than 850 of these implants sold in the United States since the JAZZ implants launched.
8. The company plans to announce an initial public offering at some point in the future. Currently, they are accelerating strategy in the United States with 25 sales partner contacts. The company is also strengthening the U.S. management team.
9. The company's knee activity has sustained positive momentum with revenue growth which "validates the strategic importance of the general orthopedic platform."
10. Implanet's American subsidiary exceeded $1 million in sales for its first year.