Globus Medical went into 2025 with a strong foothold in spine and orthopedics, and it’s well-positioned for the next year.
Here are 10 key updates:
1. Globus Medical introduced its DuraPro drill with navigation for spine and orthopedic surgery.
2. Dan Scavilla stepped down as president and CEO of Globus Medical, and Keith Pfeil succeeded him.
3. Globus Medical’s worldwide sales in the second quarter were $745.3 million, a year-over-year increase of 18.4%.
4. Globus Medical earned FDA clearance for Excelsius XR, an augmented reality navigation headset, CEO Keith Pfeil said in an Aug. 7 earnings call.
5. Life Spine owes Globus Medical $9.5 million for infringing a patent related to parts used in expandable spinal fusion devices.
6. Globus Medical has introduced its Anthem Elbow Fracture System. The system includes 14 plate families, 2.7mm and 3.5mm screw options and anatomy-specific reduction instruments
7. Globus Medical’s third quarter sales hit $760 million, a 22.9% increase year over year, according to financial results posted Nov. 6.
8. Globus Medical’s U.S. spine revenue grew week over week in the third quarter, CEO Keith Pfeil said, as transcribed by Seeking Alpha. At the time of its earnings call, Globus Medical is at 32 consecutive weeks of U.S. spine growth.
9. Globus Medical earned FDA 510(k) clearance for ExcelsiusGPS instruments for additional interbody fusion devices including Modulus XLIF, Modulus TLIF-O, Cohere XLIF, Cohere TLIF-O, HEDRON L and HEDRON P so far in the fourth quarter, Mr. Pfeil said.
10. Nevro, which Globus Medical acquired in April, brought in $99.3 million of revenue during the third quarter, CFO Kyle Kline said in the earnings call.
