Last $20.63 USD
Change Today +0.12 / 0.59%
Volume 545.2K
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As of 8:04 PM 10/24/14 All times are local (Market data is delayed by at least 15 minutes).

globus medical inc - a (GMED) Snapshot

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03/19/14 - $27.14
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globus medical inc - a (GMED) Details

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 technologies, such as dynamic stabilization, total disc replacement and interspinous process spacer products, and advanced biomaterials technologies; and interventional pain management solutions, including treatments for vertebral compression fractures. The company has received pre-market approval for SECURE-C Cervical Artificial Disc; and conducting other clinical trials for ACADIA Facet Replacement System, a motion preserving anatomic reconstruction of the facet joint intended for the treatment of spinal stenosis, as well as TRIUMPH Lumbar Disc, a motion preserving disc replacement inserted obliquely into the disc space from a posterolateral approach to address posterior spinal pathology and maintain important anterior anatomical structures. Globus Medical, Inc. sells its implants and related disposables primarily to hospitals. The company markets and sells its products through sales representatives and independent distributors in the United States and internationally. Globus Medical, Inc. was founded in 2003 and is headquartered in Audubon, Pennsylvania.

850 Employees
Last Reported Date: 03/14/14
Founded in 2003

globus medical inc - a (GMED) Top Compensated Officers

Co-Founder, Chairman, Chief Executive Officer...
Total Annual Compensation: $389.7K
President, Chief Operating Officer, Director ...
Total Annual Compensation: $324.8K
Co-Founder, Senior Vice President of Operatio...
Total Annual Compensation: $227.3K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $329.6K
Executive Vice President of US Sales
Total Annual Compensation: $297.4K
Compensation as of Fiscal Year 2013.

globus medical inc - a (GMED) Key Developments

Globus Medical, Inc. Announces the SILC Fixation System for the Deformity Market

Globus Medical, Inc. continues to innovate in the treatment of complex deformity with the launch of the SILC(TM) Fixation System. SILC(TM) is a low profile sublaminar fixation system that is easy to insert and provides the stability to perform standard reduction maneuvers for correction of spinal curvatures, without the need for pedicle purchase in all vertebrae. SILC(TM) provides a simple solution for the full spectrum of patients ranging from pediatric to adult in order to address deformity correction, poor bone quality, and compromised anatomy. The system consists of a polyethylene band that utilizes the strength of the laminar cortical bone as well as a top-loading clamp with integrated set screw that allows implant insertion at any time during the procedure. SILC(TM) is compatible with rod diameters ranging from 4.5mm through 6.5mm. The SILC(TM) Fixation System consists of temporary implants for use in orthopedic surgery. The system is intended to provide temporary stabilization as a bone anchor during the development of solid bony fusion and aid in the repair of bone fractures. The indications for use include the following applications: Spinal trauma surgery, used in sublaminar, interspinous, or facet wiring techniques; Spinal reconstructive surgery, incorporated into constructs for the purpose of correction of spinal deformities such as idiopathic and neuromuscular scoliosis in patients 8 years of age and older, adult scoliosis, kyphosis, and spondylolisthesis; Spinal degenerative surgery, as an adjunct to spinal fusions. The SILC(TM) Fixation System may also be used in conjunction with other medical implants made of similar metals whenever "wiring" may help secure the attachment of other implants.

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."


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