Implanet reported a 15 percent increase in spine revenue for 2017.
Here are five things to know:
1. Implanet reported a flat revenue in 2017, hitting around $9.7 million. Spine revenue was reported as $5.8 million, a 15 percent increase over the past year.
2. Implanet reported 11 percent lower operating expenses than in 2016, with the main improvements being in general and administrative expenses, regulatory affairs and operating expenses.
3. The company reported improvement convertible bond financing raised from the European Select Growth Opportunities Fund after the removal of the dilution linked to share subscription warrants and increased capital through issuing shares to U.S institutional investors.
4. Implanet finalized a partnership with L&K Biomed, leading to an international expansion of the Jazz platform. In the U.S., Implanet America is pooling resources with Aegis Spine to accelerate Jazz platform commercialization.
5. In Asia, L&K Biomed will distribute Jazz platform alongside its existing product range.
"While our global revenue remained stable, our operating performance improved as we tightly monitor our operating expenses," said Ludovic Lastennet, Implanet's CEO. "We maintained our R&D efforts in 2017, with a sustained pace of new product launches and accelerated our international expansion by moving into new markets."