AUDUBON, Pa., Nov. 4 Globus Medical, Inc., the largest privately held spinal implant manufacturer in the world, today announced record revenues for the third quarter. Revenue for the quarter ended September 30, 2009 reached $66.2 million, an increase of 46 percent over the comparable period in 2008. On a year-to-date basis, the Company reported revenues of $186.7 million, a 45 percent increase over the same period last year.
"This has been a breakout year for Globus Medical," said David Paul, Chairman and CEO, Globus Medical, Inc. Our Product Development Engine now has over one hundred dedicated professionals who continue to build momentum with innovative solutions across the full spectrum of spine care. We are on pace to introduce 17 new products this year, giving Globus one of the broadest product portfolios in the industry."
"The convergence of innovative product development and a high caliber sales force continues to be a cornerstone of our success. Our growth this year is driven by products, developed with our MILDER® (Minimally Invasive, Less Disruptive, Earlier Recovery) Spine Care philosophy," said Rick Kienzle, Executive Vice President of Worldwide Sales and Marketing, Globus Medical, Inc. "Among the more noteworthy are Coalition(TM), Independence®, Signature®, and Revolve®."
MILDER® Spine Care is a comprehensive approach to spine care that integrates minimally invasive surgical techniques with implants, instrumentation, and education designed to lessen the disruption to a patient's anatomic structures in order to facilitate an earlier, pain-free recovery.
The Coalition(TM) System is an integrated plate and spacer system that incorporates four torsional stabilizers in addition to two screws. It is designed to provide the biomechanical strength of a traditional ACDF with less disruption of patient anatomy and preserves the natural anatomical profile of the cervical spine.
The Independence® System integrates a stabilization plate and a PEEK interbody spacer, that is an easy-to-use system that delivers a less disruptive implant than a traditional ALIF procedure.
The Signature® MIS TLIF Spacer system includes an articulating implant that enables surgeons to utilize a single instrument--from insertion through final placement--to deliver the spacer into the biomechanically ideal position through a portal or small incision while performing a TLIF procedure.
The Revolve® MIS System has highly refined instrumentation for streamlining each step of the MIS delivery of lumbar pedicle screws. The powerful integrated rod reduction and non-threaded locking cap implant enables surgeons to apply MIS surgical techniques to the multi-level treatment of tumor, trauma and deformity conditions.
The complete line of the Company's products will be on display at the upcoming NASS meeting in San Francisco, November 10-13, 2009.
ABOUT GLOBUS MEDICAL, INC.
Globus Medical, Inc. is the largest privately held spinal implant manufacturer in the world and is based in Audubon, Pa. The company was founded in 2003 by an experienced team of spine professionals with a shared vision to create products that enable spine surgeons to promote healing in patients with spinal disorders. Additional information can be accessed at www.globusmedical.com.
CONTACT: Sara Brown Meehan Levick Strategic Communications (202) 286-1995 [email protected]
SOURCE Globus Medical, Inc.