(Boursier.com) — Implanet achieved a turnover of 2.1 million euros in the second quarter of 2022, 33% higher than that of the same period in 2021. The growth is explained by a second quarter of organic growth in the Spine business at Implanet by +22% and the acquisition of OSD in May 2021, contributing €0.31 million.
In France, activity grew by +25%, going from 0.68 MEUR to 0.85 MEUR, slowed down by recurring personnel problems in operating theatres. In the United States, revenue was down slightly with revenue of 0.43 ME in the second quarter of 2022 compared to 0.48 ME in Q2 2021. In the rest of the world, activity was multiplied by 2 to reach 0.81 ME in Q2 2022 compared to 0.39 ME in Q2 2021, boosted in particular by a return to normal activity in Latin America.
The half-year turnover amounts to 4.11 ME against 2.6 ME in the first half of 2021 (+58%).
As of June 30, 2022, Implanet only had cash of €0.5 million. At the same time, the payment of the balance of the MADISONTM activity, for a total amount of 2.3 ME, is spread over time depending on the achievement of regulatory milestones related to CE marking, including 0.6 ME expected in 2022 and €0.9 million in the first half of 2023. In addition, it is planned to achieve, before October 31, 2022, after the fulfillment of various usual conditions precedent, in particular related to compliance with regulatory constraints and under the control from the competent government authorities, a capital increase with maintenance of the preferential subscription right by issuing ABSA, guaranteed up to 5 ME by the partner Sanyou Medical.
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