19 May Implanet Enters Into Exclusive Negotiations to Sell Its “MADISONTM” Total Knee Implant to Focus on Growing Its Spine Business
BORDEAUX, France & BOSTON–(BUSINESS WIRE)–Regulatory News:
IMPLANET (Euronext Growth: ALIMP, FR0013470168, eligible for PEA-PME equity savings plans) (Paris:ALIMP), a medical technology company specializing in vertebral and knee-surgery implants, today announces that it has entered into exclusive negotiations regarding the sale of its MADISONTM total knee prosthesis activities.
The transaction would relate to all assets, rights, titles and contracts pertaining to the Company’s MADISONTM activity relative to the design and marketing of implants for prosthetic knee surgery. Beforehand, and in order to facilitate the operation, this branch of activity will be the subject of the creation of a dedicated subsidiary within Implanet.
This is in line with Implanet’s strategy of fully focusing on accelerating the growth of the Spine market. Firstly, continue the development of its range of flagship JAZZTM products, latest generation implants aimed at improving the treatment of vertebral disorders requiring spinal fusion surgery. Secondly, accelerate commercial deployment across the Company’s priority regions. The JAZZTM range of implants, protected by 4 international patent families, has been cleared by the Food and Drug Administration (FDA) in the United States, ANVISA in Brazil and has CE marking in Europe.
This project is, nevertheless, subject to a certain number of conditions notably including the carrying out of financial, technical, legal and regulatory audits, an agreement regarding the documentation and the granting of regulatory approval.
Ludovic Lastennet, CEO of IMPLANET concludes: “Implanet is delighted to announce the initiation of exclusive negotiations to sell its Knee platform. The objective, to accelerate our growth, is to focus our strategy entirely on our Spine activities. In the future, Implanet will be 100% devoted to the treatment of spinal disorders. Thanks to this operation, we will benefit from significant additional financial resources to strengthen our organic growth and, at the same time, be able to seize potential opportunities for acquisitions that correspond with our goal of making Implanet a powerful player in the field of spinal pathologies.”
Upcoming financial events:
– 2020 H1 revenue, July 7th, 2020 after market close
– 2020 H1 results, 15th September, 2020 after market close
Founded in 2007, Implanet is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its activity revolves around two product ranges, the latest generation JAZZ® implant, designed to improve the treatment of spinal pathologies requiring vertebral fusion surgery, and the MADISON implant designed for first-line prosthetic knee surgery. Implanet’s tried-and-tested orthopedic platform is based on product traceability. Protected by four families of international patents, JAZZ® and MADISON have obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States, the CE mark as well as the ANVISA authorization in Brazil. Implanet employs 36 staff and recorded 2019 sales of €7.4 million. For further information, please visit www.implanet.com. Based near Bordeaux in France, Implanet established a US subsidiary in Boston in 2013. Implanet is listed on Euronext™ Growth market in Paris.
The Company would like to remind that the table for monitoring the equity line (OCA, OCAPI, BSA) and the number of shares outstanding, is available on its website: http://www.implanet-invest.com/suivi-des-actions-80
Ludovic Lastennet, CEO
David Dieumegard, CFO
Tel.: +33(0)5 57 99 55 55
Tel.: +33 (0)1 44 71 94 94
Tel.: +33 (0)1 44 71 94 94
SOURCE: Business Wire, 18th May 2020