IMPLANET announces an improvement in its 2021 half-year results


BORDEAUX, France & BOSTON – (COMMERCIAL THREAD) – Regulatory news:

IMPLANET (Paris: ALIMP) (Euronext Growth: ALIMP, FR0013470168, eligible for PEA-PME), a medical technology company specializing in spinal and knee surgery implants, announces its first half results as of June 30, 2021, as ‘approved by the Board of Directors on September 21, 2021.

Ludovic Lastennet, CEO of IMPANET, noted: “The refocusing of our operations initiated in 2020 on our Spine activity, combined with the recovery observed during the first half of the year, illustrate the relevance of our strategic orientation. Despite the still limited impact of OSD’s activity, given its acquisition date, we were able to improve our gross margin over the period while continuing to rationalize our fixed costs. The combination of the expertise of IMPANET and OSD brought its first benefits with the signing of a contract with one of the major players in the spinal implant sector in Germany, ulrich medical®. Although the public health situation does not facilitate the return to normal surgical activity, the first results of this partnership should materialize during the second half of this year and confirm the return to growth already initiated.”.

In thousands of euros – IFRS – Simplified income statement

S1 2021

H1 2020

Switch %





Cost of goods sold


-1 148


Gross margin

2 276



Gross margin %



+5.5 points

Recurring operating costs

-3 990

-3 339


current operating income

-1 714

-1 892


Other non-current operating income / expenses



n / A

Operating result

-1 714



Financial profit / loss




Net profit / loss

-1 834



* Unaudited data

H1 2021 revenue

In the first half of 2021, IMPLANET achieved a turnover of 3.72 million euros, up 43% (vs. 2.59 million euros in H1 2020).

Thanks to the strategic acquisition of Orthopedic & Spine Development (“OSD”)1 in the first half of 2021, the Spine activity experienced strong growth of 71% compared to H1 2020, with sales of 2.58 million euros. Activity is also up 8% compared to H1 2019. Despite the still significant impact of the health crisis since the start of the year, MADISON’s activity is up 5% compared to H1 2020 .

Gross margin and operating profit

Over the first half of 2021, the gross margin improved by 5.5 percentage points to € 2.28 million, compared to € 1.44 million in H1 2020.

Current operating expenses increased by 0.65 million euros over the period compared to the first half of 2020, mainly due to OSD costs of 0.30 million euros recognized over the period from May 19, 2021 to June 30, 2021, as well as the resumption of activity and the end of partial works measures. Despite this increase, operating expenses fell by 27 percentage points, representing 107% of sales for the first half of 2021 against 134% in 2020. This improvement marks the continuation of the constant efforts to rationalize fixed costs.

The other non-recurring operating expenses for the first half of 2020 correspond to the costs incurred on the sale of the Company’s knee activity. The operating loss thus improved by 16% to -1.71 M € in H1 2021 against -2.04 M € in H1 2020.

Once the financial result is taken into account, the net loss amounts to 1.83 million euros for the six-month period ended June 30, 2021, an improvement of 24% compared to the loss of 2.41 million recorded in the first semester 2020.

Cash position

As of June 30, 2021, IMPLANET had cash and cash equivalents of € 0.37 million (compared to € 1.14 million as of December 31, 2020). As a reminder, in January 2021, the Company signed a bond financing program with Nice & Green for a total amount of € 5.0 million. At the date of this press release, 2.85 million euros were still available and to be subscribed by Nice & Green.

Outlook 2021

Thanks to the integration of OSD in May 2021, IMPLANET now has a full range of innovative products for spine surgery. The geographic complementarity of the two structures also offers prospects for international development for the entire range.

In the second half of 2021, activity should accelerate in particular thanks to:

  • The postponement of Madison’s first surgeries to the United States, as part of the strategic partnership with KICo;

  • The first spine surgeries following the exclusive distribution agreement for the REFLECT® range from GLOBUS MEDICAL in 15 French university centers specializing in pediatric spine surgery;

  • The first deliveries of JAZZ implants and OSD cervical plates to ulrich medical® under the distribution contract signed in June.

Reminder of the highlights of the first half of 2021

  • Agreement for the acquisition of OSD, specializing in the development, manufacture and marketing of implants for spinal surgery;

  • Liquidation for MADISONMT total knee replacement obtained from the TGA (Therapeutic Goods Administration) allowing the product to be marketed in Australia;

  • Signature of a strategic partnership with ulrich medical® for the distribution of JAZZ® implants and the OSD cervical plate;

  • Exclusive distribution contract with GLOBUS MEDICAL to market the latter’s scoliosis correction system to 15 French university centers specializing in pediatric spine surgery in order to increase our market share.

The half-year financial report for June 30, 2021 is available on the IMPANET website and on the AMF website.

Next financial event:

Q3 2021 revenue, to 12 October 2021 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, an innovative global solution to improve the treatment of spinal pathologies (JAZZ® and OSD), as well as the MADISON implant for first-line prosthetic knee surgery. Implanet’s proven orthopedic platform is based on the traceability of its products. Protected by four international patent families, JAZZ® has obtained 510 (k) regulatory clearance from the Food and Drug Administration (FDA) in the United States, CE marking in Europe and ANVISA approval in Brazil. IMPLANET employs 29 people and achieved a turnover of 6.0 million euros in 2020. For more information, visit Based near Bordeaux in France, IMPLANET opened an American subsidiary in Boston in 2013. In May 2021, IMPLANET acquired Orthopedic & Spine Development (OSD), specializing in the development, manufacture and marketing of implants for surgery of the breast. spine and offers a range of products that complements the latest generation JAZZ® implant (thoraco-lumbar screws, cages and cervical plates). IMPLANET is listed on the Euronext Growth market in Paris.

The Company reminds readers that the monitoring table for the equity line (OCA, BSA) and the number of shares in circulation is available on its website: actions- 80

1 Since May 19, 2021, the Spine activity has included the turnover recorded by OSD, i.e. € 0.52 million.

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