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Press release |
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Implanet finalizes the agreement to acquire OSD,
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To access the full document in pdf please CLICK HERE Bordeaux, Boston, March 30, 2021 – 5.45 pm CEST: IMPLANET (Euronext Growth: ALIMP, FR0013470168, eligible for PEA-PME equity savings plans), a medical technology company specializing in vertebral and knee-surgery implants, today announces that it has finalized the agreement to acquire Orthopaedic & Spine Development (“OSD”), under suspensive conditions, which specializes in developing, manufacturing and marketing implants for spine surgery. To watch the exclusive interview Acquisition project driven by value-creating synergies:
The acquisition of OSD would allow Implanet to become a heavyweight on the spine surgery market in France and globally, and the independent leader in surgical band implants. The new entity’s strategic focus will be to: Innovate:
This acquisition project is based on a valuation of OSD shares of €4.275 million for the entire capital of OSD. The acquisition of 100% of the shares, subject to the usual suspensive conditions, will be carried out by way of a sale (for 62.34%) and contributions (for 37.66%) by the shareholders. The proportion of shares will be divested for a price of €2.665 million, €0.5 million of which will be paid on the date of acquisition, and the remainder in the form of a 24-month sales credit guaranteed by a pledge on the OSD shares thus acquired. The portion of the contributed shares will be remunerated by the issuance of new Implanet shares (bonds redeemable in shares), corresponding to a value of €1.610 million. This acquisition and the financing of the new entity’s activity will be funded by the bond financing line agreed with Nice & Green for a maximum of €5.0 million (see press release of January 13, 2021). The issuance of IMPLANET bonds redeemable in shares (BRS) in consideration for the portion of the shares contributed to IMPLANET will be subject to shareholders’ approval at the Shareholders’ Meeting scheduled for May 5, 2021. Main terms and conditions of the IMPLANET BRS issued to the Contributors
[1] under suspensive conditions |
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| About Orthopaedic & Spine Development ("OSD") | ||||
| Founded in 2006 and based in Avignon (southern France), OSD specializes in developing, manufacturing and marketing implants for spine surgery. The company generated revenue of €3.6 million in 2019. OSD develops and markets a comprehensive range of spine implants and distributes complementary products and bone substitutes. OSD markets its products directly in France, indirectly in the rest of the world, and was recently granted FDA 510k clearance. | ||||
| 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. |
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www.implanet.com |
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