Navigation Links
Globus Medical Announces Record 2nd Quarter 2007 Results
Date:8/27/2007

AUDUBON, Pa., Aug. 27 /PRNewswire/ -- Globus Medical, Inc., the largest privately held spinal implant manufacturer in the world, today announced record revenue for the quarter ending June 30, 2007. The company recorded revenues of $30.2 million for the second quarter -- an increase of 52% over the $19.9 million it achieved in the same quarter a year ago. The announcement follows on the heels of $110 million in series E financing to fund Globus' continued rapid growth.

"The record results were driven by a major expansion of the company's sales and distribution footprint, and the introduction of several new products across its fusion, MIS and biomaterials portfolio," said Rick Kienzle, Executive Vice President of Sales and Marketing, Globus Medical. "In addition, strong market acceptance of our Revere(TM) pedicle screw system continues to fuel significant conversions in our established and new markets."

During the second quarter, Globus Medical added several highly-experienced sales professionals in key U.S. markets, bringing the total number of people added to its sales and distribution infrastructure in 2007 to 25.

So far in 2007, Globus has introduced six new systems that represent significant technological advancements in fusion, MIS and biomaterials. Additionally, in the area of motion preservation, the company announced two "world's first" surgeries using its transforaminal and posterior disc replacement systems.

Globus Medical also entered the biomaterial segment during the second quarter with the introduction of the NuBone(TM) Osteoinductive Bone Graft Product Line, the first of several new biomaterial initiatives planned for the next 12 months. The launch of Globus Medical's MARS(TM) Minimally Invasive Retractor System filled out its MIS product portfolio, further securing the company's leadership position in MIS technology and products. Both MIS and biomaterials are key initiatives in Globus Medical's strategy to innovate across the complete suite of products.

"The pace and research behind our product development engine continues to set Globus Medical apart by enabling technological advancements across the complete spectrum of spinal products," Dave Demski, Chief Financial Officer, Globus Medical said. "This innovation is at the heart of Globus Medical and, coupled with the expansion in the sales force, is accelerating our penetration of new markets and driving growth."

About Globus Medical, Inc.

Globus Medical, Inc. is one of the ten largest spinal implant manufacturers in the world, with more than $120 million in annualized revenues. Based in Audubon, Pa., the privately held company was founded in 2003 by an experienced team of spine professionals with a shared vision to create products that enable spine surgeons to employ both fusion and non-fusion solutions to promote healing in patients with spinal disorders. Globus Medical has a full portfolio of spinal fusion products, burgeoning initiatives in biomaterials development and minimally invasive approaches, and is among the world leaders in the development of motion sparing technology. Additional information can be accessed at http://www.globusmedical.com.

Contact:

Sara Brown Meehan

415-595-9872

sbmeehan@levick.com


'/>"/>
SOURCE Globus Medical, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Medical College receives $377K to study brain disease
2. Barriers will not stop convergence of medical technologies
3. Medical College team creates website for tracking flu
4. Biomedical engineering conference invites manufacturers
5. Visions: Wade offers straight talk on e-medical records
6. Merge unveils updated medical imaging software
7. Medical College receives $1.4M cancer grant
8. Medical technology firm lands $100K federal grant
9. Doyle outlines spending for Medical College, UWM
10. And the winners in medical design are
11. Manufacturing partnership will move into biotech and biomedical spaces
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... San Diego, CA (PRWEB) , ... ... ... BioInformatics (https://www.onramp.bio/ ) has launched Rosalind™, the first-ever genomics analysis platform ... eliminating all bioinformatics complexity. Named in honor of pioneering researcher Rosalind Franklin, ...
(Date:10/11/2017)... CA (PRWEB) , ... October 11, 2017 , ... ... upregulate any gene in its endogenous context, enabling overexpression experiments and avoiding the ... system with small RNA guides is transformative for performing systematic gain-of-function studies. ...
(Date:10/11/2017)... ... , ... ComplianceOnline’s Medical Device Summit is back for its 4th year. The ... Francisco, CA. The Summit brings together current and former FDA office bearers, regulators, industry ... officials from around the world to address key issues in device compliance, quality and ...
(Date:10/11/2017)... Oct. 11, 2017  VMS BioMarketing, a leading provider of ... oncology Clinical Nurse Educator (CNE) network, which will launch this ... communication among health care professionals to enhance the patient care ... staff, and other health care professionals to help women who ... ...
Breaking Biology Technology:
(Date:4/17/2017)... NXT-ID, Inc. (NASDAQ: NXTD ) ("NXT-ID" or the "Company"), ... Report on Form 10-K on Thursday April 13, 2017 with the ... The ... section of the Company,s website at http://www.nxt-id.com  under "SEC Filings," ... 2016 Year Highlights: Acquisition of ...
(Date:4/13/2017)... 2017 According to a new market research report ... Identity Administration, and Authorization), Service, Authentication Type, Deployment Mode, Vertical, and Region ... expected to grow from USD 14.30 Billion in 2017 to USD 31.75 ... ... MarketsandMarkets Logo ...
(Date:4/11/2017)... Research and Markets has announced the addition ... their offering. ... tracking market to grow at a CAGR of 30.37% during the ... 2017-2021, has been prepared based on an in-depth market analysis with ... its growth prospects over the coming years. The report also includes ...
Breaking Biology News(10 mins):