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"The record results were driven by a major expansion of the company'ssales and distribution footprint, and the introduction of several new productsacross its fusion, MIS and biomaterials portfolio," said Rick Kienzle,Executive Vice President of Sales and Marketing, Globus Medical. "In addition,strong market acceptance of our Revere(TM) pedicle screw system continues tofuel significant conversions in our established and new markets."
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During the second quarter, Globus Medical added several highly-experiencedsales professionals in key U.S. markets, bringing the total number of peopleadded to its sales and distribution infrastructure in 2007 to 25.
So far in 2007, Globus has introduced six new systems that representsignificant technological advancements in fusion, MIS and biomaterials.Additionally, in the area of motion preservation, the company announced two"world's first" surgeries using its transforaminal and posterior discreplacement systems.
Globus Medical also entered the biomaterial segment during the secondquarter with the introduction of the NuBone(TM) Osteoinductive Bone GraftProduct Line, the first of several new biomaterial initiatives planned for thenext 12 months. The launch of Globus Medical's MARS(TM) Minimally InvasiveRetractor System filled out its MIS product portfolio, further securing thecompany's leadership position in MIS technology and products. Both MIS andbiomaterials are key initiatives in Globus Medical's strategy to innovateacross the complete suite of products.
"The pace and research behind our product development engine continues toset Globus Medical apart by enabling technological advancements across thecomplete spectrum of spinal products," Dave Demski, Chief Financial Officer,Globus Medical said. "This innovation is at the heart of Globus Medical and,coupled with the expansion in the sales force, is accelerating our penetrationof new markets and driving growth."
About Globus Medical, Inc.
Globus Medical, Inc. is one of the ten largest spinal implantmanufacturers in the world, with more than $120 million in annualizedrevenues. Based in Audubon, Pa., the privately held company was founded in2003 by an experienced team of spine professionals with a shared vision tocreate products that enable spine surgeons to employ both fusion andnon-fusion solutions to promote healing in patients with spinal disorders.Globus Medical has a full portfolio of spinal fusion products, burgeoninginitiatives in biomaterials development and minimally invasive approaches, andis among the world leaders in the development of motion sparing technology.Additional information can be accessed at http://www.globusmedical.com.Contact: Sara Brown Meehan 415-595-9872 [email protected]
SOURCE Globus Medical, Inc.
