Globus Medical (NYSE:GMED) said today it acquired Swiss robotic developer KB Medical, and released 2nd quarter earnings that beat The Streets earnings per share expectations, but fell short of sales expectations. The company said it closed the acquisition of KB Medical during its 2nd quarter, and that the buy would help expand its imaging, navigation and […]
Globus Medical
FDA deals setback to Globus Medical’s ExcelsiusGPS robot-assisted surgery platform
Globus Medical (NYSE:GMED) said yesterday that the FDA won’t accept the 510(k) clearance bid for its ExcelsiusGPS robot-assisted surgery platform, likely delaying its launch until the 3rd quarter. Globus said in a regulatory filing that the federal safety watchdog told it that the company hadn’t “sufficiently addressed the FDA’s questions” about its original clearance application. Audubon, Pa.-based Globus […]
Globus Medical gains on Q1 beats
Globus Medical (NYSE:GMED) shares gained today after the orthopedics company bested the consensus forecast with its 1st-quarter numbers. Audubon, Pa.-based Globus posted profits of $28.7 million, or 30¢ per share, on sales of $155.8 million for the 3 months ended March 31, for a bottom-line increase of 2.5% on sales growth of 11.9% compared with Q1 […]
Globus shares dip on mixed-bag Q4, FY2016 earnings
Shares in Globus Medical (NYSE:GMED) have fallen slightly today after the medical device maker missed earnings per share expectations, but topped revenue with its 4th quarter and full fiscal year 2016 earnings. The Audubon, Penn.-based company posted profits of $24.3 million, or 25¢ per share, on sales of $151.6 million for the 3 months ended December […]
Globus Medical posts Street-beating prelims
Globus Medical (NYSE:GMED) saw its shares tick upwards after it beat analysts’ expectations on Wall Street with its preliminary 4th quarter financial results. The Audubon, Pa.-based company said it expects a total revenue of $151.6 million for Q4, a 6.3% increase from the same period in the 2015. Analysts were looking for sales of $149.2 […]
Globus Medical wins CE Mark for Excelsius GPS robotic guidance device
Globus Medical (NYSE:GMED) said today that it won CE Mark approval in the European Union for the Excelsius GPS robotic guidance device it acquired 3 years ago. Audubon, Pa.-based Globus said the Excelsius GPS system is for use in both minimally invasive and open procedures for orthopedics and neurosurgery, including procedures for the spine, long bones […]
NASS 2016: Interest grows in surgical robotics for spinal procedures
Mazor Robotics (NSDQ:MZOR) unveiled its next-generation robot-assisted surgery system and Globus Medical (NYSE:GMED) for the 1st time showcased the functional prototype of its Excelsius platform at the NASS 2016 meeting in Boston last week, signifying an increased interest in robotic surgeons among major players. Mazor developed 3 generations of products over 15 years and does 95% of its business in […]
Alphatec closes $80m sale of int’l biz to Globus, announces 1-12 reverse split
Alphatec (NSDQ:ATEC) said it closed the $80 million sale of its international operations and distribution channels to Globus Medical (NYSE:GMED) and announced a 1-for-12 reverse stock split. Carlsbad, Calif.-based Alphatec said today that Globus paid $80 million in cash for its international operations and distribution channel, and inked a 5-year senior secured credit facility for up to $30 million. Alphatec also […]
Globus wins patent infringement suit lodged by Flexuspine
Globus Medical (NYSE:GMED) last Friday marked a win in a patent spat with device maker Flexuspine, after a Texas federal jury cleared the company of any infringement claims after a 5-day trial. The case, filed by Texas-based Flexuspine, claimed that Globus infringed on 5 of its spinal correction device patents, but was trimmed to 3 claims […]
Alphatec pushes closing date closer in $80m sale of int’l biz to Globus
Alphatec (NSDQ:ATEC) today released updated information on the $80 million sale of its international operations and distribution channels to Globus Medical (NYSE:GMED), pushing the close date from October to early to mid-September. Alphatec said the deal includes a 5-year senior secured credit facility for up to $30 million from Globus Medical. The deal is still subject to […]
Alphatec deals international biz to Globus Medical for $80m
Alphatec (NSDQ:ATEC) said today it entered into an agreement with Globus Medical (NYSE:GMED) to sell its international operations and distribution channels for $80 million. Alphatec said the deal includes a 5-year senior secured credit facility for up to $30 million from Globus Medical. Alphatec said it plans to use portions of the cash offering to pay down […]