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Globus Medical Pro Forma Growth Trend
I had the privilege to speak at the NASS Innovation NetWORK Summit in June, and one of my key topics was the changing competitive landscape of spine. Even with the 11 transactions so far in 2025, orthopedic M&A activity is down sharply since the pandemic. But that doesn’t tell the whole story, especially for the spine market.
Among the top five spine players, which represent almost two-thirds of the market, it is hard to overstate the competitive impact of enabling technology and scale.
I spent a lot of time thinking about Globus Medical bucking the conventional wisdom in spine with its massive acquisition of NuVasive. We don’t have to beat the “spine acquisitions never work” horse again. Globus quite clearly became the exception to the rule.
The company faced challenges last quarter from softer enabling technology sales compounded by a difficult prior-year comparison, integration-related supply chain disruptions and the timing of international orders.
“We experienced temporary issues driven by the timing of in house manufacturing scale up,” said Globus CFO Keith Pfeil. “This disruption mainly impacted legacy NuVasive products and was driven by finalizing validation activities associated with production.”
Globus’ subpar first quarter had me feeling some recency bias, so I went back and looked at Globus’ pro forma growth since 2022. From 2017 to 2022, Globus had a CAGR of about 10%. Of course, things slowed down a bit when the company virtually doubled in size since its 2023 deal for NuVasive.
But if we ignore the first quarter of 2025, Globus has still outperformed the spine market. Even its worst quarter, 2Q24, was about average for normalized spine market. Inclusive of its recent Nevro acquisition, the company expects between $2.8 billion and $2.9 billion in total sales for 2025.
Globus Medical Pro Forma Growth Trend
I had the privilege to speak at the NASS Innovation NetWORK Summit in June, and one of my key topics was the changing competitive landscape of spine. Even with the 11 transactions so far in 2025, orthopedic M&A activity is down sharply since the pandemic. But that doesn’t tell the whole story,...
Globus Medical Pro Forma Growth Trend
I had the privilege to speak at the NASS Innovation NetWORK Summit in June, and one of my key topics was the changing competitive landscape of spine. Even with the 11 transactions so far in 2025, orthopedic M&A activity is down sharply since the pandemic. But that doesn’t tell the whole story, especially for the spine market.
Among the top five spine players, which represent almost two-thirds of the market, it is hard to overstate the competitive impact of enabling technology and scale.
I spent a lot of time thinking about Globus Medical bucking the conventional wisdom in spine with its massive acquisition of NuVasive. We don’t have to beat the “spine acquisitions never work” horse again. Globus quite clearly became the exception to the rule.
The company faced challenges last quarter from softer enabling technology sales compounded by a difficult prior-year comparison, integration-related supply chain disruptions and the timing of international orders.
“We experienced temporary issues driven by the timing of in house manufacturing scale up,” said Globus CFO Keith Pfeil. “This disruption mainly impacted legacy NuVasive products and was driven by finalizing validation activities associated with production.”
Globus’ subpar first quarter had me feeling some recency bias, so I went back and looked at Globus’ pro forma growth since 2022. From 2017 to 2022, Globus had a CAGR of about 10%. Of course, things slowed down a bit when the company virtually doubled in size since its 2023 deal for NuVasive.
But if we ignore the first quarter of 2025, Globus has still outperformed the spine market. Even its worst quarter, 2Q24, was about average for normalized spine market. Inclusive of its recent Nevro acquisition, the company expects between $2.8 billion and $2.9 billion in total sales for 2025.
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
