Implanet Q1 revenue drops 21%, Spine up 77%: 10 key notes

Spinal Tech

Implanet first quarter revenue was down in 2015 compared to the same period in 2014.

Here are 10 things to know:

 

1. The total revenue for Implanet was down 21 percent in the first quarter of 2015. Here is the specialty breakdown:

 

• Spine: up 77.6 percent
• Knee and arthroscopy: down 32.2 percent
• Hip: discontinued in the first half of 2014

 

2. JAZZ sales were uniform across all markets, with the breakdown being:

 

• France: 34 percent
• United States: 26 percent
• Rest of the world: 40 percent

 

3. Implanet sold 579 JAZZ units during the first quarter in France and 162 in the United States. There were 1,811 units sold worldwide, a 69 percent growth.

 

4. The decline in knee sales were driven by a physician's strike in France and a slowdown in a few export markets as a result of substantial purchases at the end of the 2014.

 

5. The hip activity withdrawal won't impact the total revenue after the first half of 2015.

 

6. Implanet renegotiated a venture loan with more advantageous terms that will enable it to reduce its cash burn significantly per month.

 

7. The company will continue to efforts with JAZZ acceleration in all markets, driven by clinical and medico-economic results recently published.

 

8. There is an expected product clearance in both the United States and Europe in the next few weeks.

 

9. There were funds raised in a recent capital increase to allow development strategy acceleration, particularly focused on the United States.

 

10. Implanet established a subsidiary in the United States in 2013.

 

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