Amplitude Surgical Subsidiary Signs Distribution Agreement

Amplitude Surgical, a French firm developing lower-limb orthopedics, said its subsidiary Novastep has signed an exclusive distribution agreement with Carbon22 on the global market, and in particular the U.S. market.
 
Founded by a consortium of distinguished orthopedic and podiatric surgeons, Carbon22 is an American company specialized in developing innovative foot and ankle implant solutions. It also provides advanced practical and surgical techniques for foot and ankle repair.
 
Carbon22’s implants offer unique characteristics such as Radio transparency (titanium PEEK/carbon-PEEK hybrid technology), which allows intraoperative visualization of fusion sites and post-operative visualization of healing zones. These innovative characteristics give Carbon22’s solutions a disruptive positioning compared with competitive products whilst limiting their costs.
 
The exclusive distribution agreement signed with Carbon22 will allow Novastep, Amplitude subsidiary and recognized player in the field of medical devices for lower-limb surgery, to incorporate a range of solutions within its product offering and thus accelerate its growth opportunities in the United States.
 
Olivier Jallabert, Chairman and CEO of Amplitude Surgical, stated: “We are delighted that our subsidiary Novastep is partnering with these prestigious foot and ankle surgeons with whom they will collectively develop new solutions for improving patient treatment and outcomes. The exclusive large-scale marketing of Carbon22 implants on the American market will enable Novastep to seize major growth opportunities.”
 
In the first half of its 2019-20 financial year (July to December 2019), Amplitude Surgical recorded sales of 49.8 million euros, up 5.8 percent and 5.7 percent at constant exchange rates.
 
On the French market, Amplitude Surgical recorded a 1.1 percent increase in first-half sales to 30.4 million euros. France accounted for 61 percent of total sales. The Group’s international activity generated sales of 19.4 million euros, up 14.2 percent and 13.9 percent at constant exchange rates, driven by the performances of both its subsidiaries and its distributors. The Group’s subsidiaries recorded sales growth of 13.2 percemt to 14.4 million euros, notably thanks to the contribution of Brazil, South Africa and the United States for Novastep’s business. Distributors also recorded strong growth of 16.1 percent to 5.1 million euros.

Amplitude Surgical’s direct business (French market and international subsidiaries), which accounted for close to 90 percent of total Group sales, grew by 4.7 percent at constant exchange rates. The sales generated by Novastep, solutions for foot and ankle surgery, saw further buoyant growth in the first half and totaled 4.8 million euros (up 36.2 percent at constant exchange rates), driven by the United States (up 98 percent at constant exchange rates). The proportion of sales generated abroad was over 62 percent, and Novastep now accounts for 10 percent of total Group sales.
 
Moreover, Amplitude Surgical has maintained a solid financial structure with, at end-December 2019, cash and cash equivalents of close to 19.2 million euros, versus 19.6 million euros at end-June 2019.