Regulatory News:
IMPLANET (Euronext Growth: ALIMP, FR0013470168, eligible for PEA-PME equity savings plans), a medical technology company specializing in implants for orthopedic surgery and the distribution of technological medical equipment, today announces the implementation of financing with Shanghai Pudong Development Bank ("SPD Bank").
Ludovic Lastennet, IMPLANET's Chief Executive Officer, stated: "I would like to thank our partners, Sanyou Medical and SPD Bank, for their confidence in our project. With these new financial resources, IMPLANET has additional means to carry out its operations and fully execute its strategic priorities."
The financing arrangement consists of a short-term working capital loan from SPD Bank totaling RMB 15.2 million, around €2 million, for a 12-month term, repayable in full at maturity, without requiring collateral. The loan is intended for supplier payments and other operational expenses, with repayment guaranteed by Sanyou Medical.
Given this new financing and the cash flow projections based on current activity assumptions and anticipated commercial developments with Sanyou Medical for 2024 and 2025, the Company believes it will be able to meet its operational financing needs for the next twelve months. Additionally, the Company is continuing to explore various financing solutions to accelerate the development of its activities and medium-term growth, as well as the implementation of payment facilities with the Sanyou Medical group.
As a reminder, as of September 30, 2024, Implanet had cash reserves of €0.79 million. Furthermore, the Company received €0.68 million from the sale of the MADISONTM activity, with the remaining €0.17 million expected to be collected in the first half of 2025.
Upcoming financial event:
- Full-year 2024 revenue, on January 14, 2025, after market close.
About IMPLANET
Founded in 2007, IMPLANET is a medical technology company that manufactures high-quality implants for orthopedic surgery and distributing medical technology equipment. Its activity revolves around a comprehensive innovative solution for improving the treatment of spinal pathologies (JAZZ®) complemented by the product range offered by Orthopaedic Spine Development (OSD), acquired in May 2021 (thoraco-lumbar screws, cages and cervical plates). Implanet's tried-and-tested orthopedic platform is based on the traceability of its products. Protected by four families of international patents, JAZZ® has obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States, the CE mark in Europe and ANVISA approval in Brazil. In 2022, IMPLANET entered into a commercial, technological and financial partnership with SANYOU MEDICAL, China's second largest medical device manufacturer. IMPLANET employs 43 staff and recorded a consolidated revenue of €7.4 million in 2023. Based near Bordeaux in France, IMPLANET opened a US subsidiary in Boston in 2013. IMPLANET is listed on the Euronext Growth market in Paris.
For further information, please visit www.Implanet.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241205000206/en/
Contacts:
IMPLANET
Ludovic Lastennet, CEO
David Dieumegard, CFO
Tél.: +33 (0)5 57 99 55 55
investors@Implanet.com
NewCap
Investor Relations
Nicolas Fossiez
Tél.: +33 (0)1 44 71 94 94
Implanet@newcap.eu
NewCap
Media Relations
Arthur Rouillé
Tél.: +33 (0)1 44 71 94 94
Implanet@newcap.eu
