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Globus Medical reported 1Q17 revenue of $155.8MM, +11.9% vs. 1Q16. (U.S. $129.7MM, +1.6%; ex-U.S. $26.1MM, +123.4%) ORTHOWORLD estimates for segment growth follow.
| 1Q17 | 1Q16 | $ Change | % Change | |
| Spine | $148.2 | $132.2 | $16.03 | 12.1% |
| Orthobiologics | $7.6 | $7.1 | $0.51 | 7.2% |
| Total | $155.8 | $139.3 | $16.55 | 11.9% |
Geographic results: U.S. $129.7MM, +1.6%; ex-U.S. $26.1MM, +123.4%
1Q17 performance highlights:
- Growth-driving products included expandable interbody systems, COALITION MIS, INDEPENDENCE MIS, CREO MIS and biologics, as well as QUARTEX and Alphatec assets
- $15.2MM in ex-U.S. sales from Alphatec acquisition
- Japan regulatory submissions progressing well; products could launch in 2H
- Other geographies of focus include Australia, Germany, India and the U.K.
- Launched three spine products, including Rod Link Reducer instruments for complex curvatures and spinal deformity; technique increases leverage to manipulate the spine in the axial, coronal and sagittal planes simultaneously
- Toward end of 1Q, launched ViaCell allograft: average of 0.7MM cells per cc, of which 20% are mesenchymal stem cells and osteoprogenitor cells
- 2H launches include deformity correction solutions in Europe, trauma products (~2/3 of trauma products now FDA-cleared; maintaining potential $2MM in revenue in 2017)
- Excelsius GPS feedback positive at society meetings; hopeful for 2Q regulatory approval
- SECURE-C progress: ready to publish 7-year data on results in cervical arthroplasty; in Europe, have two next-gen devices already on the market
- Noted a significant increase in competitive rep recruitment
Sources: Globus Medical, Inc.; ORTHOWORLD estimates
An ORTHOWORLD Observation:
Globus Medical intends to gain a larger footprint in hospitals and institutions with its emerging technology initiatives—trauma and robotics.
The products also support Globus Medical’s drive to reach $1.0BB in sales—though NuVasive will get there first. Today, NuVasive is guiding toward 2017 revenue of $1.065BB, while Globus is expecting $625.0MM.
Of the top five companies in spine by ORTHOWORLD’s 2016 estimates (excluding orthobiologic revenue), NuVasive is at #3 and Globus at #5, with just over $260.0MM between them.
Globus Medical reported 1Q17 revenue of $155.8MM, +11.9% vs. 1Q16. (U.S. $129.7MM, +1.6%; ex-U.S. $26.1MM, +123.4%) ORTHOWORLD estimates for segment growth follow.
Q17
Q16
$ Change
% Change
Spine
$148.2
$132.2 ...
Globus Medical reported 1Q17 revenue of $155.8MM, +11.9% vs. 1Q16. (U.S. $129.7MM, +1.6%; ex-U.S. $26.1MM, +123.4%) ORTHOWORLD estimates for segment growth follow.
| 1Q17 | 1Q16 | $ Change | % Change | |
| Spine | $148.2 | $132.2 | $16.03 | 12.1% |
| Orthobiologics | $7.6 | $7.1 | $0.51 | 7.2% |
| Total | $155.8 | $139.3 | $16.55 | 11.9% |
Geographic results: U.S. $129.7MM, +1.6%; ex-U.S. $26.1MM, +123.4%
1Q17 performance highlights:
- Growth-driving products included expandable interbody systems, COALITION MIS, INDEPENDENCE MIS, CREO MIS and biologics, as well as QUARTEX and Alphatec assets
- $15.2MM in ex-U.S. sales from Alphatec acquisition
- Japan regulatory submissions progressing well; products could launch in 2H
- Other geographies of focus include Australia, Germany, India and the U.K.
- Launched three spine products, including Rod Link Reducer instruments for complex curvatures and spinal deformity; technique increases leverage to manipulate the spine in the axial, coronal and sagittal planes simultaneously
- Toward end of 1Q, launched ViaCell allograft: average of 0.7MM cells per cc, of which 20% are mesenchymal stem cells and osteoprogenitor cells
- 2H launches include deformity correction solutions in Europe, trauma products (~2/3 of trauma products now FDA-cleared; maintaining potential $2MM in revenue in 2017)
- Excelsius GPS feedback positive at society meetings; hopeful for 2Q regulatory approval
- SECURE-C progress: ready to publish 7-year data on results in cervical arthroplasty; in Europe, have two next-gen devices already on the market
- Noted a significant increase in competitive rep recruitment
Sources: Globus Medical, Inc.; ORTHOWORLD estimates
An ORTHOWORLD Observation:
Globus Medical intends to gain a larger footprint in hospitals and institutions with its emerging technology initiatives—trauma and robotics.
The products also support Globus Medical’s drive to reach $1.0BB in sales—though NuVasive will get there first. Today, NuVasive is guiding toward 2017 revenue of $1.065BB, while Globus is expecting $625.0MM.
Of the top five companies in spine by ORTHOWORLD’s 2016 estimates (excluding orthobiologic revenue), NuVasive is at #3 and Globus at #5, with just over $260.0MM between them.
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
