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 and cranium. It’s designed to integrate with Globus Medical implants and instruments, with compatibility with pre- and intra-operative CT and fluoroscopic imaging.
Globus paid an undisclosed amount to acquire Excelsius Surgical in January 2014. When the company unveiled the system last fall at the annual North American Spine Society meeting in Boston, Globus said revenues would likely follow during the 2nd half of 2017, given a 1st-half approval and launch.
“Excelsius GPS is another example of continued innovation from Globus Medical, utilizing feedback from expert surgeons from different specialties,” Globus robotics, imaging & navigation VP Norbert Johnson said in prepared remarks. “Our goal with the Excelsius GPS system is to improve the continuum of care for patients, surgeons, and hospitals through the application of robotic and navigation technology in the fields of spine, trauma and cranial surgery.”
Globus is not alone in acquiring to build out the gaps in its robotics offering. In orthopedics, Zimmer Biomet‘s (NYSE:ZBH) Rosa system and the Senhance device sold by TransEnterix (NYSE:TRXC), Excelsius features optical tracking.
Back in December 2013, Stryker (NYSE:SYK) closed its $1.7 billion takeover of Mako Surgical; a year ago Smith & Nephew (NYSE:SNN) paid $275 million for Blue Belt Technologies.
Even Medtronic (NYSE:MDT), said to be developing its own robotics offering internally, got into the act with a $42 million deal that gives it distribution rights and a 15% stake in Mazor Robotics (NSDQ:MZOR).
