Navigation Links
Globus Medical Announces Record Revenue for 2007
Date:2/4/2008

AUDUBON, Pa., Feb. 4 /PRNewswire/ -- Globus Medical, Inc., the largest privately held spinal implant manufacturer in the world, today announced record revenue for the year ending December 31, 2007. The company recorded revenue of $123 million -- an increase of 50 percent over the $82 million it achieved in 2006.

The record revenue capped a series of significant milestones achieved by the Company during 2007. "This has been an outstanding year for Globus Medical. Our rapid growth has continued unabated, driven by the development of numerous innovative technologies at a pace unmatched in the industry, and the expansion of our distribution footprint to several new markets," said David Paul, Chief Executive Officer, Globus Medical, Inc. "These achievements, coupled with the $110 million capital infusion in 2007 have positioned Globus for a breakthrough year in 2008."

During 2007, Globus Medical significantly expanded its sales and distribution infrastructure, adding a net total of 42 sales professionals across the U.S. Twenty of these individuals had at least five years of successful sales experience with major spinal implant manufacturers before joining Globus.

The speed and efficiency of Globus Medical's product development engine continued to drive major technological advancements in fusion, MIS, and biomaterials. The company introduced a total of 13 new systems, and announced two "world's first" surgeries using its posterior-lateral disc replacement systems.

In the 3rd quarter, the Company announced the closing of a $110 million financing round-the biggest venture capital deal of 2007. Clarus Ventures, LLC led the round and was joined by AIG SunAmerica and other large, institutional private equity (Clarus Ventures, LLC; AIG SunAmerica) funds.

About Globus Medical, Inc.

Globus Medical, Inc. is one of the ten largest spinal implant manufacturers in the world. 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.


'/>"/>
SOURCE Globus Medical, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. MSU engineering team designs innovative medical device
2. ATS Medical to Present at the 2007 Thomas Weisel Partners Healthcare Conference
3. Providence St. Joseph Medical Center, Caregivers Reach Agreement on a Union Contract
4. Owner and Operator of Florida Durable Medical Equipment Company Convicted of Medicare Fraud
5. Father and Daughter From Tanzania Receive Their First Medical Examination in Newport Beach
6. Doctors and medical ethicist discuss whether doctors should participate in capital punishment
7. Preparation for Natural Disasters Critical for People With Diabetes, Chronic Medical Conditions
8. Doctors and Medical Ethicist Discuss Whether Doctors Should Participate in Capital Punishment
9. Symmetry Medical Completes Acquisition Of Specialty Surgical Instruments
10. Milestone Scientific Announces Successful Completion of its Collaboration Agreement With Carticept Medical
11. FDA Seeks to Regulate Complementary and Alternative Medicine; Products Such as Vegetable Juice Could Be Restricted for Medical Use
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/23/2017)... ... ... METTLER TOLEDO has announced the availability of a new ... . , Crystallization is a common step used during the synthesis ... spend more time developing better intermediate and final crystallization steps. By adopting ...
(Date:1/23/2017)... ... January 23, 2017 , ... ... American Society of Anesthesiologists® (ASA®), the Foundation for Anesthesia Education and Research ... Surgeons (AAOS) and the Cigna Foundation, encourages proposals supporting high quality research ...
(Date:1/23/2017)... ... ... Under Blankets”: an entrancing story about one woman's travels through the wilderness of ... published author, Kimberly Mitchell, who earned her bachelor’s degree in English education at the ... degree in education in the field of curriculum and instruction. Kimberly’s passion for writing ...
(Date:1/22/2017)... California (PRWEB) , ... January 22, 2017 , ... "Photo ... Cloud to create a beautiful 3D slideshow with complete ease," said Christina Austin - ... Generators browser to place in the FCPX timeline. Presets include scenes with ...
(Date:1/21/2017)... ... January 21, 2017 , ... Seamild, the largest manufacturer of oats in China, ... owner and founder. As Oat is recognized globally as one of the healthiest cereals, ... he believes it is a move to sow the seed of good karma. Buddhism ...
Breaking Medicine News(10 mins):
(Date:1/23/2017)... 23, 2017 7D Surgical announced today ... the U.S. Food and Drug Administration (FDA) and ... the North American commercial launch of its innovative ... surgery, the 7D Surgical System.  ... technologies and machine vision algorithms to eliminate the ...
(Date:1/23/2017)... Jan. 23, 2017 The American Pharmacists Association ... Pharmacy and Medically Underserved Areas Enhancement Act ... The legislation, which was previously introduced in the 114 ... to health care through pharmacists and their patient care ... Brett Guthrie (R-KY), G.K. Butterfield ...
(Date:1/23/2017)... , January 23, 2017 Stock-Callers.com today ... Inc. (NASDAQ: CPRX ), Sophiris Bio Inc. (NASDAQ: ... MNTA ), and Agile Therapeutics Inc. (NASDAQ: AGRX ... turned somewhat lower in late trade on Friday, January 20 ... about 0.3%, while shares of health care companies in the ...
Breaking Medicine Technology: