Medical technology company Implanet has seen its revenue rise in the second quarter.
Implanet specializes in vertebral implants and implants for orthopedic surgery. It has four families of patents on its products, ranging from cages and cervical plates to thoraco-lumbar screws.
"Despite the difficulties linked to the lack of personnel in healthcare institutions, this second quarter continues the good commercial momentum that began at the beginning of the year, due to the strengthening of our spinal activity, ensured by the acquisition of OSD and by solid organic growth in our domestic market and in exports," Ludovic Lastennet, Implanet’s CEO, said in a July 11 press release.
While Implanet’s spine activity grew by 35 percent and accrued 2.09 million euros, or about $2.1 million, in revenue from the second quarter of 2021 to the second quarter of 2022, its U.S. spine activity decreased by 10 percent in that period.
Meanwhile, Implanet’s U.S. revenue reached only 430,000 euros, or about $433,000, in the second quarter of 2022, down about 10 percent year over year. In France and in the rest of the world however, its revenue grew 25 percent and 106 percent, respectively.
Also in the second quarter of 2022, Implanet acquired medical manufacturing company OSD, which could have contributed to the revenue expansion.