Globus Medical, Inc. has announced preliminary sales results for 2013. The company anticipates fourth quarter 2013 sales of $115.2 million, a 14.6% increase over fourth quarter 2012. Full year 2013 estimated sales increased 12.6% over the prior year to $434.5 million, exceeding the company’s previous guidance of $432 million. The company expects 2014 sales to be in the range of $480 million-$486 million.
Commented David Paul, Chairman and CEO of Globus, in the January 14, 2014 news release: “2013 was an outstanding year of execution, delivering innovative new products, and expanding our sales force, while delivering strong financial results. Our business remains robust, and our fourth quarter and full year performance in 2013 is a testament to the consistent and focused execution of our strategy. We believe we will continue to grow our business at rates significantly above the industry by innovating in rapid response to the needs of our customers and patients and growing our sales footprint on a worldwide basis.”
The company is also announcing the acquisition of Excelsius Surgical, LLC, a company that is developing a next generation surgical robotic positioning platform for spine, brain and therapeutic markets. The Excelsius Surgical system is a robotic surgical aid for navigating and facilitating surgical access, implant sizing, positioning and placement, and is designed to enable surgeons to perform procedures more quickly and with greater accuracy, safety and reproducibility than is currently available in the marketplace today.
“We are very excited by the strategic fit and potential of Excelsius Surgical. Our product development efforts focus on products designed to minimize tissue disruption, blood loss and surgical complications, and we believe that the use of advanced technology solutions, such as the Excelsius Surgical system, will enable surgeons to consistently achieve better surgical outcomes, ” said David Paul in the January 8, 2014 news release. “Recent trends in the adoption of navigation technology as well as advancements in imaging only serve to reinforce our belief that technology will play an increasingly greater role in surgery in the future. We believe that this acquisition positions Globus to be a leader in this important area.”
The Excelsius Surgical robotic positioning system is being designed to integrate intra-operative digital imaging with a sophisticated robotic surgical assistant that maintains anatomical positioning during the surgery with sub-millimeter accuracy. The technology was developed in conjunction with Dignity Health’s Barrow Neurological Institute at St. Joseph’s Hospital and Medical Center in Phoenix, Arizona. Co-founders Neil R. Crawford, Ph.D., Associate Professor of Spinal Biomechanics at Barrow, and Nicholas Theodore, M.D., neurosurgeon and Chief of Spine Surgery at Barrow, led the development of the technology.
