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Globus Medical reports recurring developments in musculoskeletal technology, including sales and earnings updates for its spine, orthopedic and enabling technology businesses. The company develops medical devices, instruments and computer-assisted systems used in musculoskeletal procedures and sells to hospitals, physicians and surgical centers in the United States and international markets.
Company news also covers US Spine demand, Enabling Technologies customer expansion, product pipeline execution, integration activity following completed NuVasive and Nevro transactions, preliminary sales guidance, earnings conference calls and board composition changes.
Globus Medical, Inc. (NYSE: GMED) reported strong financial results for Q1 2021, with worldwide net sales reaching $227.3 million, a 19.3% increase from Q1 2020. GAAP net income soared to $45.3 million, or 19.9% of net sales, marking a 74.7% year-over-year increase. The GAAP diluted EPS was $0.44, up from $0.25 a year prior. The company raised its 2021 net sales guidance from $880 million to $925 million.
Strong growth in the U.S. Spine business and an 86% increase in Enabling Technologies revenue contributed to these results.
Globus Medical, Inc. (NYSE:GMED) plans to release its financial results for the first quarter ending March 31, 2021, on May 4, 2021, after market close. The company will host a teleconference at 4:30 p.m. ET to discuss its performance with investors. Participants can join via dial-in numbers provided or access the webcast through the company’s website. The audio archive will be available until May 11, 2021. Globus Medical, established in 2003, focuses on musculoskeletal solutions and aims to support patient healing.
Globus Medical, a leading musculoskeletal solutions company, has launched CREO ONE, the first robotic screw designed for spine surgery with ExcelsiusGPS. This innovative screw enhances the modular pedicle screw platform by simplifying procedures while boosting pullout strength by 86%. The unique awl-style tip allows for streamlined operations, eliminating traditional tapping methods. CREO ONE is compatible with existing CREO navigation instruments, marking a significant advancement in robotic spine surgery.
Globus Medical, Inc. (NYSE: GMED) reported fourth-quarter 2020 net sales of $233.4 million, marking a 10.3% increase from Q4 2019. GAAP net income for the quarter rose to $53.0 million, with diluted EPS at $0.52. For the full year, net sales reached $789.0 million, a 0.5% increase. The company expects 2021 net sales to be around $880 million, with non-GAAP diluted EPS anticipated at $1.83. Globus Medical ended 2020 with $785.3 million in cash and remains debt-free. CEO Dave Demski noted strong growth in the US Spine segment, despite pandemic-related challenges.
Globus Medical (NYSE: GMED) will release its financial results for Q4 and the full year ending December 31, 2020, after market close on February 17, 2021. A teleconference will follow at 4:30 PM ET to discuss the results, accessible via dial-in for both U.S. and international participants. The audio of the call will be archived until February 24, 2021. Investors can view the press release and join the call via Globus Medical's website.
The company is recognized in the musculoskeletal solutions sector and emphasizes the importance of its financial disclosures.
Globus Medical, a top musculoskeletal solutions company, announced a new agreement with Premier, a leading group purchasing organization in the U.S. This contract focuses on Globus' Trauma Platform, which includes products like ANTHEM® Plating and AUTOBAHN® Nailing. Dan Scavilla, the Executive VP, emphasized the mission to enhance their presence across various sectors, including trauma and joint reconstruction.
For more details on the Trauma products, visit www.globusmedical.com/trauma.
Globus Medical (NYSE:GMED) has introduced the new ExcelsiusGPS® Interbody Solutions module, enhancing robotic navigation in spinal surgery. Dr. Sheeraz Qureshi and Dr. Paul Park are the first surgeons to utilize this module for advanced fusion procedures. This updated platform offers best-in-class responsiveness, aiding in the planning and execution of robotic navigated surgeries. ExcelsiusGPS® is designed to improve safety, accuracy, and efficiency, making it a significant evolution in robotic spinal surgery.
Globus Medical, a leading musculoskeletal solutions company, reported third-quarter financial results for 2020, showcasing significant growth. Worldwide net sales reached $216.1 million, reflecting a 10.1% increase from Q3 2019. GAAP net income also rose by 15.4% to $44.2 million, with diluted EPS at $0.44. The U.S. Spine business experienced a 17% growth, driven by increased surgical volumes and market share gains. Despite a dip in Enabling Technologies revenue, the company remains optimistic about future sales, especially in robotics.
Globus Medical (NYSE:GMED) will release its financial results for Q3 2020 on October 28, 2020, after market close. A teleconference will follow at 4:30 PM ET for discussions with investors, accessible via phone or webcast. The conference call will be archived until November 4, 2020. Globus Medical, based in Audubon, PA, specializes in musculoskeletal solutions, aiming to enhance patient healing through innovative products.
Globus Medical (NYSE: GMED) announced its platinum sponsorship at the North American Spine Society (NASS) Annual Meeting, taking place virtually from October 6-9, 2020. The event will feature webinars led by surgeon experts on the company’s ExcelsiusGPS Interbody Solutions platform, enhancing robotic spine surgery. Key presentations include two sessions on October 8, focusing on the evolution of ExcelsiusGPS and maximizing lordosis through posterior minimally invasive surgery. Attendees can visit Globus Medical’s virtual booth for recent innovations.