BORDEAUX, France & BOSTON– 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.
