globus medical inc - a (GMED) Key Developments
Globus Medical, Inc. Announces RISE-L, an Expandable Lateral Interbody Fusion Devicec
Jul 1 15
Globus Medical, Inc. announced the introduction of RISE®-L, a lateral lumbar interbody fusion (LLIF) device and the latest addition to the company’s portfolio of expandable spacers. The LLIF procedure, approaching the spine from the side of the patient, allows for a larger implant footprint, and is less disruptive to lower back muscles as compared other approaches, which may result in less blood loss and faster recovery. RISE®-L is a vertically expanding LLIF device designed to minimize impaction, maximize indirect decompression, and provide a large graft space optimal for fusion potential. The all-titanium implant is designed for up to 7mm of continuous in situ expansion and to provide restorative disc height with proper anatomical fit. Available in multiple sizes, in parallel or lordotic profiles, RISE®-L provides options for surgeons to address proper sagittal balance. A large single graft chamber can be filled with autogenous bone graft material after insertion and expansion to ensure even contact with both vertebral endplates. Globus Medical has steadily innovated its lateral platform starting with the PATRIOT® TransContinental™ LLIF cage over six years ago by bringing to market several advanced treatment options including the CALIBER®-L expandable cage, InterContinental® plate-spacer, and PLYMOUTH® lateral plate. Each product can be used in conjunction with Globus Medical’s MARS™ and MARS™ 3V retractors.
Globus Medical, Inc. Engages Grant Thornton LLP as its Independent Registered Public Accounting Firm
Jun 9 15
Globus Medical, Inc. announced that the Audit Committee of its Board of Directors has engaged Grant Thornton LLP as its independent registered public accounting firm effective June 9, 2015.
Globus Medical, Inc. Presents at Goldman Sachs 36th Annual Global Healthcare Conference, Jun-11-2015 08:40 AM
Jun 2 15
Globus Medical, Inc. Presents at Goldman Sachs 36th Annual Global Healthcare Conference, Jun-11-2015 08:40 AM. Venue: Terranea Resort, Rancho Palos Verdes, California, United States. Speakers: Daniel T. Scavilla, Chief Financial Officer and Senior Vice President, David C. Paul, Co-Founder, Chairman, Chief Executive Officer, Chairman of Compensation Committee and Chairman of Nominating & Corporate Governance Committee.
Globus Medical, Inc. Presents at JMP Securities Life Sciences Conference, Jun-24-2015 10:30 AM
May 7 15
Globus Medical, Inc. Presents at JMP Securities Life Sciences Conference, Jun-24-2015 10:30 AM. Venue: The St. Regis New York, 2 East 55th Street, New York, NY 10022, United States. Speakers: Daniel T. Scavilla, Chief Financial Officer and Senior Vice President.
Globus Medical, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015
May 5 15
Globus Medical, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported sales of $131,604,000 against $114,210,000 a year ago. Operating income was $38,520,000 against $32,242,000 a year ago. Income before income taxes was $38,173,000 against $32,487,000 a year ago. Net income was $24,648,000 or $0.26 per basic and diluted share against $21,139,000 or $0.22 per diluted share a year ago. Net cash provided by operating activities was $34,670,000 against $29,232,000 a year ago. Purchases of property and equipment were $7,228,000 against $6,164,000 a year ago. Adjusted EBITDA was $46,316,000 against $42,055,000 a year ago. Non-GAAP net income was $24,669,000, or $0.26 per diluted share, as compared to $22,787,000, or $0.24 per diluted share, a year ago. Non-GAAP free cash flow was $27,442,000 against $23,068,000 a year ago. EBITDA was $43,569,000 against $37,583,000 a year ago.
For the year 2015, the company increased both sales and eps guidance and now expects sales to be approximately $514 million and diluted earnings per share to be approximately $1.02 per share.