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 acros
|SOURCE Globus Medical, Inc.|
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