August 21, 2014 8:48 PM ET

Healthcare Equipment and Supplies

Company Overview of Globus Medical, Inc.

Company Overview

Globus Medical, Inc., a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. It offers approximately 120 products that address an array of spinal pathologies, anatomies, and surgical approaches. The company’s fusion products are used in cervical, thoracolumbar, sacral, and interbody/corpectomy fusion procedures to treat degenerative, deformity, tumor, and trauma conditions. Its disruptive technology products provide material improvements to fusion procedures, such as minimally invasive surgical techniques, as well as new treatment alternatives, which include motion preservation tec...

2560 General Armistead Avenue

Audubon, PA 19403

United States

Founded in 2003

850 Employees

Phone:

610-930-1800

Fax:

610-930-2042

Key Executives for Globus Medical, Inc.

Co-Founder
Age: 47
Total Annual Compensation: $389.7K
President
Age: 56
Total Annual Compensation: $324.8K
Co-Founder
Age: 48
Total Annual Compensation: $227.3K
Chief Financial Officer and Senior Vice President
Age: 58
Total Annual Compensation: $329.6K
Executive Vice President of US Sales
Age: 49
Total Annual Compensation: $297.4K
Compensation as of Fiscal Year 2013.

Globus Medical, Inc. Key Developments

Globus Medical, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year 2014

Globus Medical, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported sales of $113,573,000 against $107,009,000 a year ago. Operating income was $31,553,000 against $11,192,000 a year ago. Income before income taxes was $31,878,000 against $10,971,000 a year ago. Net income was $20,647,000 or $0.22 per diluted share against $7,426,000 or $0.08 per diluted share a year ago. EBITDA was $37,070,000 against $15,569,000 a year ago. Adjusted EBITDA was $40,154,000 against $36,338,000 a year ago. Non-GAAP net income was $21,501,000 or $0.23 per diluted share against $20,042,000 or $0.21 per diluted share a year ago. Free cash flow was $6.3 million for the quarter and $29.4 million year-to-date. For the six months, the company reported sales of $227,783,000 against $212,027,000 a year ago. Operating income was $63,795,000 against $40,423,000 a year ago. Income before income taxes was $64,365,000 against $40,481,000 a year ago. Net income was $41,786,000 or $0.44 per diluted share against $27,317,000 or $0.29 per diluted share a year ago. Net cash provided by operating activities was $41,582,000 against $27,256,000 a year ago. Purchases of property and equipment were $12,231,000 against $12,956,000 a year ago. EBITDA was $74,653,000 against $49,643,000 a year ago. Adjusted EBITDA was $82,209,000 against $71,844,000 a year ago. Non-GAAP net income was $44,283,000 or $0.46 per diluted share against $39,965,000 or $0.23 per diluted share a year ago. The company revised its 2014 revenue guidance and now expects full year net sales to be in the range of $460 to $465 million. Non-GAAP diluted earnings per share guidance remained unchanged, and expected to be in the range of $0.90 to $0.92 per share of common stock.

Globus Medical Seeks Acquisitions

Globus Medical, Inc. (NYSE:GMED) will consider acquisitions. Rick Baron, Senior Vice President of Finance and Chief Financial Officer said, "We still view that right now, that the cash is there. We have still the potential for appropriate acquisitions, and that may be the best use of the cash into the future."

Globus Medical, Inc. to Report Q2, 2014 Results on Aug 05, 2014

Globus Medical, Inc. announced that they will report Q2, 2014 results on Aug 05, 2014

Similar Private Companies By Industry

Company Name Region
International Cardio Corporation United States
Uromedica, Inc. United States
Analyte Logic Corp. United States
Waters Medical Systems, LLC United States
Articulate Technologies, Inc. United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 8, 2014
Excelsius Surgical, L.L.C.
Bankruptcy
November 19, 2013
Surgical Specialty Hospital of Arizona, LLC
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
NYC2012, Inc. United States
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Globus Medical, Inc., please visit www.globusmedical.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.