- Materialization of the distribution contract with KICo
- First surgeries expected in August
- New growth driver in the United States
BORDEAUX, France & BOSTON–(BUSINESS WIRE)–Regulatory News:
IMPLANET (Paris:ALIMP) (Euronext Growth: ALIMP, FR0013470168, eligible for PEA-PME equity savings plans), a medical technology company specializing in vertebral and knee-surgery implants, announces the marketing of its MADISON total knee replacement implants in the United States has begun.
Ludovic Lastennet, CEO of IMPLANET, and Bede O’Connor, Managing Director and Founder of KICo, comment: “We are delighted to have achieved this major milestone of our partnership. Together, we have been able to complete the various stages enabling us to announce today the availability of the first MADISON knee implants in the United States. Aware of the quality of the prosthesis and the commercial potential of the North American market, we are eager to realize the first surgical operations in August. The United States, the world’s largest market with more than 760,000 primary knee operations a year, is a market worth close to 4 billion dollars.”
Further to the contract signed with KICo for the distribution of the MADISON knee implant and the FDA 510(k) clearance received in October 2019 for its cemented version, IMPLANET has delivered the first shipments to address the North American market. This partnership covers the United States and Australia and, once the threshold of 1,000 MADISON implants distributed over a 12- month period is reached, KICo will gain distribution rights for the MADISON knee prosthesis for these countries as well as an option for a manufacturing license.
The MADISON knee will be distributed by the KICo team in the United Sates, one of the most active areas in orthopedic surgery. The first surgeries are expected to take place in August and will further substantiate the added value of this partnership. IMPLANET is thus confirmed as one of the main manufacturers in the sector to be approved by the FDA for a knee prosthesis.
Upcoming financial events:
- H1 2020 results, September 15, 2020 after market close
- Q3 2020 revenue, October 13, 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: Bussiness Wire, 21st July 2020