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:4/28/2017)... ... ... enough sleep affects much more than energy – it also has mental and physical benefits. ... motor reaction time, which can increase the risk of having a car accident. , ... the NSF to help you sleep better and feel better:, , ...
(Date:4/28/2017)... ... April 28, 2017 , ... ... http://www.wiredlifesolutions.com , “Computers are everywhere and they’re here to stay,” said ... Global Climate Change and Your Health on Voice America sponsored by Nature’s Tears® ...
(Date:4/28/2017)... (PRWEB) , ... April 28, 2017 , ... The ... board members and officers for 2017-2018. The annual board election process has been in ... a volunteer basis. , Thomas C. Dickerson, Ed.D., FACHE, succeeds Jim Hamilton, MHA, CMM, ...
(Date:4/28/2017)... ... April 28, 2017 , ... Children and adolescents who ... experiences than children in the general population. That’s because foster care is designed ... family challenges. While no fault of their own, youth who have experienced trauma ...
(Date:4/28/2017)... Harbor, Md. (PRWEB) , ... April 28, 2017 ... ... Care Association of America (UCAOA) and College of Urgent Care Medicine will host ... 2017 workshops, sessions and speakers will help those in the industry adapt to ...
Breaking Medicine News(10 mins):
(Date:4/20/2017)... 2017  AbbVie (NYSE: ABBV), a global biopharmaceutical ... chronic hepatitis C virus (HCV) infected patients with ... compensated cirrhosis (Child-Pugh A) achieved sustained virologic response ... its investigational, pan-genotypic regimen of glecaprevir/pibrentasvir (G/P). These ... 12 weeks of G/P treatment without ribavirin. Patients ...
(Date:4/20/2017)... Sweden , April 20, 2017 ... NEVPF) ("NeuroVive") today announced positive preclinical results ... preclinical compound for non-alcoholic steatohepatitis (NASH), in ... NV556 has previously shown ... NASH model. Today, NeuroVive,s scientists present novel ...
(Date:4/19/2017)... , April 19, 2017 Cardiology devices segment ... projected period The Cardiology Devices segment is likely ... US$ 15 Mn in 2018 over 2017. By the end ... market valuation close to US$ 700 Mn, expanding at a ... segment dominated the Asia Pacific reprocessed ...
Breaking Medicine Technology: