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.
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