Globus Medical saw an uptick in revenue year over year in the third quarter, and CEO Dave Demski said in an earnings call that the Excelsius 3D imaging system is expected to launch before the end of the year.
1. Adoption of the ExcelsiusGPS navigation robot for spine surgery grew in the third quarter despite the COVID-19 pandemic, Mr. Demski said in the earnings call.
"This virtuous cycle is driving an acceleration in our growth," he said, as transcribed by Seeking Alpha. "The ExcelsiusGPS robot will soon be joined by the Excelsius 3D imaging system and the Excelsius Hub navigation platform, both of which gained FDA 510(k) clearance in [the third quarter] … We anticipate the launch of Excelsius 3D late in the quarter."
2. Third-quarter revenue was $229.7 million, a 6.3 percent increase from the same period last year.
3. Although revenue increased, the growth was partially offset by the COVID-19 pandemic and the company's strategic moves in Japan, Mr. Demski said.
4. Globus Medical plans to launch the Anthem mini fragmentation system for orthopedic surgery next year.
5. The company acquired Troy, Mich.-based Capstone Surgical Technologies, Mr. Demski said. Capstone is a medtech company that developed a surgical drill that uses oscillating technology for bone removal, disk removal and screw insertion in minimally invasive spine surgery.
"This technology is an important element in our plan to incorporate safe, efficient tissue removal capability into our robotic platforms in the future," Mr. Demski said.