Globus Medical’s worldwide sales in the second quarter were $745.3 million, a year-over-year increase of 18.4%, according to financial results posted Aug. 7.
Results were led primarily by Globus Medical’s U.S. spine business, which grew 5.7%, President and CEO Keith Pfeil said in a news release. The U.S. spine business also saw its highest sequential revenue growth since the second quarter of 2022.
Enabling technologies also showed a “modest bounce back” in the quarter, Mr. Pfeil said.
Net income grew 538.7% year over year with $202.8 million. That was mostly driven by the bargain purchase gain of $110.6 million and a tax benefit of $34.8 million, the release said.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
