Amplitude Surgical Wins Its Case in the Dispute with URSSAF for the Period to June 30, 2014
January 10 2020 - 2:00AM
Business Wire
Regulatory News:
Amplitude Surgical (Paris:AMPLI) (ISIN: FR0012789667, Ticker:
AMPLI, eligible for PEA-PME plans) (“Amplitude” or the
“Group”), a leading French player on the global surgical
technology market for lower-limb orthopedics, announces the partial
resolution of its dispute with URSSAF regarding tax on the
promotion of medical devices.
Following the decisions of the Cour de Cassation on November 29,
2018, the Valence High Court on October 10, 2019 and the Grenoble
Court of Appeal on October 29, 2019, as well as the URSSAF letter
of November 7, 2019 indicating its decision not to appeal these
decisions, Amplitude Surgical, after almost 10 years of legal
proceedings, has won its dispute with URSSAF for the period to June
30, 2014. For the financial years from July 1, 2014 onwards, the
dispute has not been settled and Amplitude Surgical will continue
to defend its initial position.
At the time of its IPO in June 2015, the Group pledged to
provision within its accounts 100% of the risk associated with this
dispute, i.e. notified reassessments but also potential adjustments
as well as penalties and interest. The Group thus set aside a
provision of close to €2.5 million in non-operating expenses every
year. The accounting consequence of this decision in H1 2019-20
accounts will be the €8.6 million partial reversal of the provision
that totaled €19.0 million at June 30, 2019.
Next financial press release
H1 2019-20 sales: Thursday February 20, 2020, after
market.
About Amplitude Surgical
Founded in 1997 in Valence, France, Amplitude Surgical is a
leading French player on the global surgical technology market for
lower-limb orthopedics. Amplitude Surgical develops and markets
high-end products for orthopedic surgery covering the main
disorders affecting the hip, knee and extremities, and notably foot
and ankle surgery. Amplitude Surgical develops, in close
collaboration with surgeons, numerous high value-added innovations
in order to best meet the needs of patients, surgeons and
healthcare facilities. A leading player in France, Amplitude
Surgical is developing abroad through its subsidiaries and a
network of exclusive distributors and agents distributing its
products in more than 30 countries. Amplitude Surgical operates on
the lower-limb market through the intermediary of its Novastep
subsidiaries in France and the United States. At June 30, 2019,
Amplitude Surgical had a workforce of 436 employees and recorded
sales of c.103 million euros.
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version on businesswire.com: https://www.businesswire.com/news/home/20200109005756/en/
Amplitude Surgical Dimitri Borchtch CFO
finances@amplitude-surgical.com +33 (0)4 75 41 87 41 NewCap
Investor Relations Théodora Xu amplitude@newcap.eu +33 (0)1 44 71
20 42 NewCap Media Relations Nicolas Merigeau
amplitude@newcap.eu +33 (0)1 44 71 98 55
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