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Globus Medical reported 4Q21 orthopedic sales of $250 million, +7.1% vs. 4Q20. For the full year, the company generated $958.1 million in orthopedic sales, +21.4% vs. the prior year. Globus Medical’s 2021 growth revenue alone, $169 million, would make it the 9th largest spine player in the market.
ExclusiusGPS is the lynchpin in Globus’ success in recent years. It helps attract both surgeons and competitive reps while creating a pull-through effect on the company’s base spine business. Globus Medical’s enabling technology sales generated $83 million in 2021, doubling its total from 2020.
The company’s digital ecosystem is set to grow in the coming years, albeit at a slower pace than Globus initially thought. The Excelsius3D imaging system will fully launch by the third quarter of this year, while a joint replacement robot is slated for early 2023.
Globus Medical continues to face questions about how it will deploy its ample resources in M&A. Company leadership confirmed what we and others have said throughout the year: there are very few assets in the spine market that make sense for Globus, but many reasonable targets in joint replacement and trauma.
Globus Medical CEO Dave Demski said, “We’re really strong in spine, and there’s really nothing in spine that’s of interest to us at the moment. We’re more focused on growing the other piece of our business, which is smaller. There’s nothing, I would say, transformative in our sights right now. But we are looking at several modest-sized deals as has been our history.”
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 4Q21 | 4Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $2.4 | $2.5 | ($0.2) | (7.4%) |
| Knees | $1.3 | $1.5 | ($0.2) | (12.1%) |
| Hips | $1.0 | $1.0 | ($0.0) | (0.6%) |
| Spine | $234.6 | $218.6 | $15.9 | 7.3% |
| Trauma | $3.0 | $2.3 | $0.7 | 32% |
| Orthobiologics | $10.1 | $10.0 | $0.1 | 0.9% |
| Total | $250.0 | $233.4 | $16.6 | 7.1% |
| FY21 | FY20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $10.0 | $8.8 | $1.2 | 14.1% |
| Knees | $5.8 | $5.2 | $0.6 | 11.8% |
| Hips | $4.3 | $3.6 | $0.6 | 17.3% |
| Spine | $899.4 | $740.0 | $159.4 | 21.5% |
| Trauma | $10.8 | $7.7 | $3.0 | 39.2% |
| Orthobiologics | $37.9 | $32.5 | $5.4 | 16.5% |
| Total | $958.1 | $789.0 | $169.1 | 21.4% |
Orthopedic Sales by Geography
| 4Q21 | 4Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $213.0 | $198.7 | $14.3 | 7.2% |
| OUS | $37.0 | $34.7 | $2.3 | 6.7% |
| Total | $250.0 | $233.4 | $16.6 | 7.1% |
| FY21 | FY20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $819.6 | $664.5 | $155.2 | 23.4% |
| OUS | $138.5 | $124.6 | $13.9 | 11.2% |
| Total | $958.1 | $789.0 | $169.1 | 21.4% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $250.0 | |
| Cost of Sales | $61.8 | 24.7% |
| R & D | $51.0 | 20.4% |
| Selling and Admin | $106.6 | 42.6% |
| Other | $15.5 | 6.2% |
| Net Earnings | $15.1 | 6% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Globus Medical reported 4Q21 orthopedic sales of $250 million, +7.1% vs. 4Q20. For the full year, the company generated $958.1 million in orthopedic sales, +21.4% vs. the prior year. Globus Medical's 2021 growth revenue alone, $169 million, would make it the 9th largest spine player in the market.
ExclusiusGPS is the lynchpin in Globus'...
Globus Medical reported 4Q21 orthopedic sales of $250 million, +7.1% vs. 4Q20. For the full year, the company generated $958.1 million in orthopedic sales, +21.4% vs. the prior year. Globus Medical’s 2021 growth revenue alone, $169 million, would make it the 9th largest spine player in the market.
ExclusiusGPS is the lynchpin in Globus’ success in recent years. It helps attract both surgeons and competitive reps while creating a pull-through effect on the company’s base spine business. Globus Medical’s enabling technology sales generated $83 million in 2021, doubling its total from 2020.
The company’s digital ecosystem is set to grow in the coming years, albeit at a slower pace than Globus initially thought. The Excelsius3D imaging system will fully launch by the third quarter of this year, while a joint replacement robot is slated for early 2023.
Globus Medical continues to face questions about how it will deploy its ample resources in M&A. Company leadership confirmed what we and others have said throughout the year: there are very few assets in the spine market that make sense for Globus, but many reasonable targets in joint replacement and trauma.
Globus Medical CEO Dave Demski said, “We’re really strong in spine, and there’s really nothing in spine that’s of interest to us at the moment. We’re more focused on growing the other piece of our business, which is smaller. There’s nothing, I would say, transformative in our sights right now. But we are looking at several modest-sized deals as has been our history.”
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 4Q21 | 4Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $2.4 | $2.5 | ($0.2) | (7.4%) |
| Knees | $1.3 | $1.5 | ($0.2) | (12.1%) |
| Hips | $1.0 | $1.0 | ($0.0) | (0.6%) |
| Spine | $234.6 | $218.6 | $15.9 | 7.3% |
| Trauma | $3.0 | $2.3 | $0.7 | 32% |
| Orthobiologics | $10.1 | $10.0 | $0.1 | 0.9% |
| Total | $250.0 | $233.4 | $16.6 | 7.1% |
| FY21 | FY20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $10.0 | $8.8 | $1.2 | 14.1% |
| Knees | $5.8 | $5.2 | $0.6 | 11.8% |
| Hips | $4.3 | $3.6 | $0.6 | 17.3% |
| Spine | $899.4 | $740.0 | $159.4 | 21.5% |
| Trauma | $10.8 | $7.7 | $3.0 | 39.2% |
| Orthobiologics | $37.9 | $32.5 | $5.4 | 16.5% |
| Total | $958.1 | $789.0 | $169.1 | 21.4% |
Orthopedic Sales by Geography
| 4Q21 | 4Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $213.0 | $198.7 | $14.3 | 7.2% |
| OUS | $37.0 | $34.7 | $2.3 | 6.7% |
| Total | $250.0 | $233.4 | $16.6 | 7.1% |
| FY21 | FY20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $819.6 | $664.5 | $155.2 | 23.4% |
| OUS | $138.5 | $124.6 | $13.9 | 11.2% |
| Total | $958.1 | $789.0 | $169.1 | 21.4% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $250.0 | |
| Cost of Sales | $61.8 | 24.7% |
| R & D | $51.0 | 20.4% |
| Selling and Admin | $106.6 | 42.6% |
| Other | $15.5 | 6.2% |
| Net Earnings | $15.1 | 6% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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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.
