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Globus Medical 3Q15 Revenue Grows Nearly 18 Percent CC

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Globus Medical reported 3Q15 sales of US $136.9MM, +16.3% from 3Q14 as reported, +17.6% in constant currency, and YTD 2015 $402.1MM, +16.4% / +17.7% CC.

Geographically, 3Q15 U.S. revenue of $125.6MM grew +17.9% vs. 3Q14; ex-U.S. revenue of $11.3MM grew 1.2% as reported and +14.6% CC.

For 3Q15, segment sales follow with growth as reported:

  • Innovative Fusion, $72.4MM, +7%
  • Disruptive Technology, $64.5MM, +28.8%

 

In its 3Q15 results call, company leadership highlighted two products recently launched: CREO 4.75, for pediatric and adolescent deformity correction; and KINEX PLUS biologic, combining Bioglass, collagen and hyaluronic acid to support bone growth. David Paul, CEO, reiterated GMED's goal that biologics should comprise 10% to 15% of overall sales. 

Further, Paul estimated that investment segments of robotics, orthopaedic trauma and other adjacencies will represent an ~$10BB addressable market by 2020.

Source: Globus Medical, Inc.