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
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 […]
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 […]
