Charles Sternberg, Assistant Editor03.22.21
Implanet, a medical technology company specializing in vertebral and knee-surgery implants, has obtained founding shareholders’ agreement to acquire a majority stake in Orthopaedic & Spine Development (OSD), which specializes in developing, manufacturing, and marketing implants for spine surgery.
Founded in 2006 and based in Avignon (southern France), OSD generated revenue of €3.6 million ($4.3 million) in 2019. The company develops and markets a comprehensive range of spine implants and distributes complementary products and bone substitutes. It markets its products directly in France, indirectly in the rest of the world, and was recently granted FDA 510k clearance.
Implanet's offer is aimed at acquiring majority control (potentially of the entire share capital) of OSD, valued at €4.2 million ($5 million) for 100% of the shares. OSD’s founding shareholders, representing 71.5% of the capital, have already committed to respond favorably to the offer, thus confirming the principle of this merger. The final acquisition percentage will be communicated shortly after finalization of the legal documentation.
As a token of their support for the merger project, OSD’s founding shareholders will also become shareholders of Implanet. Before March 31, 2021, Implanet will convene a Shareholders’ Meeting to submit the takeover agreement to its shareholders.
Comments from Leadership
Ludovic Lastennet, CEO of Implanet, commented, “The acquisition of OSD represents a milestone in our strategy, deployed since late 2019, to strengthen Implanet’s position in the orthopedic and spine market.
Lastennet continued, “This merger with OSD will strengthen our spinal implant range, notably for the adult market, while positioning Implanet as an integrated supplier capable of competing with the market’s largest players. The merger will enable us to rapidly achieve a critical mass in terms of revenue. Reaching this critical mass will ensure that, in the coming years, we will be able to meet regulatory, clinical and economic demands in a fast-growing market.”
Nicolas Papillon, CEO and president of OSD, said, “We are very excited about this opportunity to combine our implant ranges with the clinical value of the JAZZ platform, while benefiting from Implanet’s financial and marketing expertise. We had been looking to join forces with a partner in order to deploy the execution of our strategy and provide our products with greater commercial scope, notably in the United States. This merger with Implanet was an obvious choice, as we and its founders share a common desire to turn our two companies into an agile entity, working closely with its customers and determined to increase market share.”
Founded in 2006 and based in Avignon (southern France), OSD generated revenue of €3.6 million ($4.3 million) in 2019. The company develops and markets a comprehensive range of spine implants and distributes complementary products and bone substitutes. It markets its products directly in France, indirectly in the rest of the world, and was recently granted FDA 510k clearance.
Implanet's offer is aimed at acquiring majority control (potentially of the entire share capital) of OSD, valued at €4.2 million ($5 million) for 100% of the shares. OSD’s founding shareholders, representing 71.5% of the capital, have already committed to respond favorably to the offer, thus confirming the principle of this merger. The final acquisition percentage will be communicated shortly after finalization of the legal documentation.
As a token of their support for the merger project, OSD’s founding shareholders will also become shareholders of Implanet. Before March 31, 2021, Implanet will convene a Shareholders’ Meeting to submit the takeover agreement to its shareholders.
Comments from Leadership
Ludovic Lastennet, CEO of Implanet, commented, “The acquisition of OSD represents a milestone in our strategy, deployed since late 2019, to strengthen Implanet’s position in the orthopedic and spine market.
Lastennet continued, “This merger with OSD will strengthen our spinal implant range, notably for the adult market, while positioning Implanet as an integrated supplier capable of competing with the market’s largest players. The merger will enable us to rapidly achieve a critical mass in terms of revenue. Reaching this critical mass will ensure that, in the coming years, we will be able to meet regulatory, clinical and economic demands in a fast-growing market.”
Nicolas Papillon, CEO and president of OSD, said, “We are very excited about this opportunity to combine our implant ranges with the clinical value of the JAZZ platform, while benefiting from Implanet’s financial and marketing expertise. We had been looking to join forces with a partner in order to deploy the execution of our strategy and provide our products with greater commercial scope, notably in the United States. This merger with Implanet was an obvious choice, as we and its founders share a common desire to turn our two companies into an agile entity, working closely with its customers and determined to increase market share.”