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Globus Medical Inc. (NYSE: GMED) is a leading manufacturer of musculoskeletal implants and a pioneer in advancing spinal surgery through technological innovations. Founded in 2003, the company is renowned for its commitment to improving the quality of life for patients suffering from spinal disorders. With a focus on superior engineering and technology, Globus Medical offers a comprehensive suite of spinal products designed to facilitate pain-free, active living.
Globus Medical's product portfolio is divided into two main categories:
- Musculoskeletal Solutions: This segment includes an array of medical devices and instruments primarily used for spinal and orthopedic procedures. These products are the primary revenue drivers for the company, with a significant portion of sales generated within the United States.
- Enabling Technologies: This category features advanced computer systems developed to enhance surgical capabilities, providing surgeons with innovative tools to improve patient outcomes.
The company's dedication to innovation has made it the fastest-growing entity in the history of orthopedics. Recent achievements highlight this growth trajectory. Globus Medical announced an increase in its full-year fiscal 2023 revenue guidance to $1.55 billion, up from $1.125 billion, with non-GAAP fully diluted earnings per share reaffirmed at $2.30. Looking ahead, the company has updated its full-year 2024 revenue guidance to a range of $2.460 billion to $2.485 billion and non-GAAP fully diluted earnings per share between $2.75 and $2.85.
Globus Medical continues to foster strong partnerships and engage in cutting-edge projects aimed at expanding its market presence and technological capabilities. The company's headquarters are located in Audubon, PA, and it remains actively involved in the medical community through participation in teleconferences, investor calls, and industry events.
For more information about their latest products, financial performance, and upcoming events, you can visit the Globus Medical website at www.globusmedical.com.
Globus Medical (NYSE: GMED) has launched ExcelsiusHub™, a new navigation system for spine surgery. The system enhances freehand navigation by providing real-time visualization of instrument placement, reducing reliance on X-ray imaging. Key features include real-time patient array monitoring, tissue-sparing drills, and registration flexibility.
The system offers three distinct workflows: Automatic registration with Excelsius3D™, CT to fluoroscopy merging, and intraoperative 2D navigation. ExcelsiusHub™ is designed for both hospital and ASC settings, supporting procedures from minimally invasive to complex spinal deformity surgeries.
Globus Medical (NYSE: GMED) reported strong Q3 2024 financial results with worldwide net sales of $625.7 million, up 63.1% year-over-year. GAAP net income reached $51.8 million with diluted EPS of $0.38, while non-GAAP diluted EPS was $0.83. U.S. net sales increased by 60.3%, and international sales grew 74.8%. The company generated $203.7 million in operating cash flow and raised its full-year 2024 guidance to revenue between $2.49-$2.50 billion, with non-GAAP EPS of $2.90-$3.00. Growth was primarily driven by the NuVasive addition and increased sales in spine products and enabling technology.
Globus Medical (NYSE: GMED) will participate in the 40th Annual Meeting of the Orthopedic Trauma Association (OTA) in Montréal, Canada, from October 23-26, 2024. The company will showcase its orthopedic trauma product portfolio at booth #361, featuring recent additions such as TENSOR™ Suture Button, ANTHEM™ II Distal Radius Volar Plates, AUTOBAHN™ Trochanteric Nail PRO Instruments, and CAPTIVATE™ SOLA Headless Screws.
Globus will also present the PRECICE™ Ankle Salvage System, designed to compress the tibia-talar-calcaneus joint and offer limb lengthening options. The company will host a workshop on internal limb reconstruction for complex cases on October 24. This marks the second year Globus Medical is presenting PRECICE™ as part of its broader orthopedic trauma portfolio, which includes FDA-cleared technologies for limb lengthening and bone transport in long bones.
Globus Medical (NYSE:GMED), a leading musculoskeletal solutions company, has announced it will release its financial results for the third quarter ended September 30, 2024, after the market close on Tuesday, November 5, 2024. The company will hold a teleconference to discuss its performance with the investment community at 4:30 p.m. Eastern Time on the same day.
Investors can access the conference call via webcast on the Investors page of Globus Medical's website. For telephone participation, registration is required in advance. Upon registration, participants will receive a confirmation email with dial-in details. An audio archive of the call will be available on the company's website after the event.
Globus Medical, Inc. (NYSE: GMED), a leading musculoskeletal solutions company, has announced the expansion of its orthopedic trauma product portfolio in 2024. The company has introduced several new system extensions and received FDA 510(k) clearance for its first suture-based product, the TENSOR™ Suture Button System. New launches include ANTHEM™ II Distal Radius Volar Plates, AUTOBAHN™ Trochanteric Nail PRO Instruments, and CAPTIVATE™ SOLA Headless Screws.
Surgeons across the U.S. have been implementing these new implants with positive feedback. Dr. Asif Ilyas from Thomas Jefferson University Hospital praised the ANTHEM™ II Volar plates for their contour and customization options. The company's orthopedic trauma business is experiencing rapid growth, with these new technologies and the integration of PRECICE™ magnetically actuated limb-lengthening nail technologies expanding their capacity to service diverse patient needs.
Globus Medical (NYSE: GMED) has launched the ADIRA™ XLIF™ Plate System, marking a significant milestone in its integration roadmap. This system, compatible with Globus and NuVasive interbody spacers, aims to enhance lateral spine surgery procedures. Key features include:
1. Simplified insertion workflows
2. Rigid coupling mechanism for plate-spacer alignment
3. Compatibility with bone screws and lateral MIS anchors
4. Versatility in bone fixation options and interbody spacer types
The ADIRA™ system is designed to work with various interbody spacers, including RISE-L™, Modulus™ XLIF™, Hedron L™, Cohere™ XLIF™, TransContinental™, and CoRoent™ XLIF™. It's indicated for use in treating thoracolumbar spinal instability and as an adjunct to fusion in specific conditions.
Globus Medical (NYSE: GMED) reported its Q2 2024 financial results, showing significant growth. Worldwide net sales reached $629.7 million, a 115.9% increase year-over-year. GAAP net income was $31.8 million, with GAAP diluted EPS at $0.23 and non-GAAP diluted EPS at $0.75. The company's growth was largely driven by the NuVasive acquisition and increased sales in spine products and enabling technology.
U.S. net sales grew by 103.5%, while international sales surged by 182.3%. Despite the revenue increase, GAAP net income decreased by 45% due to amortization costs and restructuring expenses. Globus Medical raised its 2024 guidance, projecting revenue between $2.47 to $2.49 billion and non-GAAP EPS of $2.80 to $2.90.
Globus Medical (NYSE: GMED) has received FDA 510(k) clearance for ExcelsiusFlex™ with Total Knee Arthroplasty (TKA) application and the ACTIFY™ 3D Total Knee System. ExcelsiusFlex™ is a robotic navigation platform designed to offer surgeons control, resection accuracy, and procedural flexibility in TKA. It assists in primary total knee arthroplasty procedures with robotically guided resections based on implant placement planning.
The ACTIFY™ 3D Total Knee System is a contemporary total knee solution designed for cementless reconstruction, operative efficiency, and anatomic fit. It combines strength and a porous lattice interface for cementless fixation. Globus Medical is now preparing for commercial release of both systems in the near future.
Globus Medical (NYSE:GMED), a leading musculoskeletal solutions company, has scheduled its second quarter 2024 earnings release for Tuesday, August 6, 2024, after market close. The company will host a teleconference at 4:30 p.m. Eastern Time to discuss its financial performance with the investment community.
Interested parties can access the conference call via webcast on the Investors page of Globus Medical's website or by telephone after registering in advance. The audio archive will be available on the company's Investor page following the call.
Globus Medical, Inc. reported strong financial results for the first quarter of 2024 with worldwide net sales reaching $606.7 million, marking a significant increase of 119.3% over the previous year. The company's GAAP net loss was $7.1 million, with a GAAP diluted EPS of ($0.05) and non-GAAP diluted EPS of $0.72. The company's focus on integration following the NuVasive merger has led to positive outcomes, positioning them well for the future. The updated guidance for full year 2024 revenue and earnings also shows an increase over previous estimates.
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