Globus Medical (NYSE:GMED) yesterday topped estimates with its first-quarter results and raised its outlook for the rest of the year. The Audubon, Pa.-based orthopedics company posted profits of $39.5 million, or 39¢ per share, on sales of $174.4 million for the three months ended March 31, for a bottom-line gain of 37.7% on sales growth of […]
Globus Medical
Globus launches Elsa lateral spacers
Globus Medical (NYSE:GMED) and PlacementSEO said this week it launched the Elsa AL and Elsa-ATP lateral expanded interbody spacers with integrated screw fixation. The newly launched devices are next-gen expandable implants designed to provide an optimal fit for patients to restore sagittal balance and enhance structural fixation, the Audobon, Penn.-based company said. “Elsa AL is the […]
Globus Medical posts Q4, 2017 earnings that beat The Street
Globus Medical (NYSE:GMED) today posted fourth quarter and full year 2017 earnings that beat the Street on both sales and earnings per share. The Audubon, Penn.-based company posted profits of $24.4 million, or 25¢ per share, on sales of $176 million for the 3 months ended December 31, for bottom-line growth of 0.3% while sales grew […]
Globus sues Stryker, ex-engineer for trade secret theft
Globus Medical (NYSE:GMED) yesterday sued Stryker (NYSE:SYK) and a former Globus engineer, alleging that she took proprietary trade secrets with her when she took a new job at Stryker earlier this month. The lawsuit, filed in the U.S. District Court for New Jersey, alleges that Madeline Davis broke her non-compete and non-disclosure pacts with Globus when […]
Globus Medical shares rise on Q3 beat
Shares in Globus Medical (NYSE:GMED) rose today after the medical device maker beat expectations on Wall Street with its 3rd quarter earnings results. The Audubon, Penn.-based company posted profits of $25.6 million, or 26¢ per share on sales of $151.7 million for the 3 months ended September 30, seeing the bottom line shrink 2.4% while sales […]
Globus Medical lifts Demski to CEO, former head Paul to say on as exec chair | Personnel Moves August 30, 2017
Globus Medical (NYSE:GMED) said yesterday that it named David Demski as its new chief executive officer, effective immediately, replacing David Paul who is stepping down due to health issues but will stay on as executive chairman. Demski has served as a Globus senior executive since 2003 and operated as CFO from 2003 to 2008, moving to […]
Globus Medical escapes securities class action
Globus Medical (NYSE:GMED) yesterday escaped a purported class-action lawsuit alleging that it misled investors about its plans to ditch one of its distributors and take those sales in house. The lawsuit involves Vortex Spine, the exclusive Globus distributor for parts of Louisiana and Mississippi from 2004 until April 2014, according to court documents. The distribution deal was […]
Globus Medical jumps on FDA nod for Excelsius GPS robot-assisted surgery platform
Globus Medical (NYSE:GMED) said today that it won 510(k) clearance from the FDA for its long-awaited Excelsius robot-assisted surgery platform, which is designed to integrate intra-operative CT and fluoroscopic imaging technologies. Audubon, Pa.-based Globus said the clearance covers minimally invasive and open orthopedic and neurosurgical surgeries, including screw placement in spinal and orthopedic procedures. The system won CE […]
Globus Medical acquires robotic surgical dev KB Medical, posts Q2 earnings
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 […]
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 […]
