March 25, 2017 6:38 AM ET

Healthcare Equipment and Supplies

Company Overview of Globus Medical, Inc.

Company Overview

Globus Medical, Inc., a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address an array of spinal pathologies, anatomies, and surgical approaches. It provides fusion products that are used in cervical, thoracolumbar, sacral, and interbody/corpectomy fusion procedures to treat degenerative, deformity, tumor, and trauma conditions. The company also offers various disruptive technology products that provide material improvements to fusion procedures, such as minimally invasive surgical techniques, as well as new treatment alternatives, which incl...

2560 General Armistead Avenue

Audubon, PA 19403

United States

Founded in 2003

1,400 Employees

Phone:

610-930-1800

Key Executives for Globus Medical, Inc.

Co-Founder, Chairman and Chief Executive Officer
Age: 49
Total Annual Compensation: $432.4K
President and Corporate Secretary
Age: 45
Total Annual Compensation: $328.1K
Co-Founder and Director
Age: 50
Total Annual Compensation: $247.7K
Chief Financial Officer and Senior Vice President
Age: 51
Total Annual Compensation: $227.7K
Group President of Commercial Operations
Age: 51
Total Annual Compensation: $348.9K
Compensation as of Fiscal Year 2015.

Globus Medical, Inc. Key Developments

Globus Medical, Inc. Presents at Canaccord Genuity2017 Musculoskeletal Conference, Mar-14-2017 01:30 PM

Globus Medical, Inc. Presents at Canaccord Genuity2017 Musculoskeletal Conference, Mar-14-2017 01:30 PM. Venue: Westin San Diego, San Diego, California, United States.

Globus Medical, Inc. announced delayed annual 10-K filing

On 03/01/2017, Globus Medical, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.

Globus Medical, Inc. Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Earnings Guidance for the Full Year 2017

Globus Medical, Inc. announced unaudited consolidated financial results for the fourth quarter and year ended December 31, 2016. For the fourth quarter, the company’s sales in the U.S. decreased by 2.7% compared to the fourth quarter of 2015, primarily due to one less selling day in the fourth quarter of 2016. International sales increased by 109.0% over the fourth quarter of 2015 on an as reported basis and 111.8% on a constant currency basis. Sales were USD 151.590 million against USD 142.587 million a year ago. Operating income was USD 35.722 million against USD 55.997 million a year ago. Income before income taxes was USD 36.477 million against USD 56.233 million a year ago. Net income was USD 24.298 million against USD 37.601 million a year ago. Basic and diluted earnings per share were USD 0.25 against USD 0.39 a year ago. EBITDA was USD 52.548 million against USD 62.242 million a year ago. Adjusted EBITDA was USD 57.176 million against USD 53.733 million a year ago. Non-GAAP net income was USD 30.194 million against USD 30.580 million a year ago. Non-GAAP diluted earnings per share were USD 0.31 against USD 0.32 a year ago. Net cash provided by operating activities was USD 51.896 million against USD 44.080 million a year ago. Purchases of property and equipment were USD 14.208 million against USD 14.154 million a year ago. For the year, the company’s sales were USD 563.994 million against USD 544.753 million a year ago. Operating income was USD 154.141 million against USD 172.222 million a year ago. Income before income taxes was USD 157.279 million against USD 172.805 million a year ago. Net income was USD 104.341 million against USD 112.784 million a year ago. Diluted earnings per share were USD 1.08 against USD 1.17 a year ago. Net cash provided by operating activities was USD 171.893 million against USD 121.957 million a year ago. Purchases of property and equipment were USD 40.909 million against USD 50.760 million a year ago. EBITDA was USD 192.993 million against USD 195.585 million a year ago. Adjusted EBITDA was USD 210.765 million against USD 197.533 million a year ago. Non-GAAP net income was USD 114.505 million against USD 108.781 million a year ago. Non-GAAP diluted earnings per share were USD 1.19 against USD 1.13 a year ago. The company expects 2017 full year sales of USD 625 million and non-GAAP fully diluted earnings per share of USD 1.27.

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