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Quarterly Review

3Q12 Earnings: Globus Medical

Globus Medical

$94.8MM, +13% (U.S. $87.1MM, +11%; Ex-U.S. $7.6MM, +38%)

  • Fusion $57.8MM, +4%
  • Disruptive Technologies $36.9MM, +30%
     
  • Overall growth attributed to territory expansion U.S. and ex-U.S., greater penetration in existing territories
  • 3Q milestones: completed IPO, received Premarket Approval for Secure-C cervical disc in 1-level procedures
  • NASS product highlights included SI-LOK percutaneous sacroiliac joint fixation system, RISE endoscopically-inserted expandable spacer, XEMPLIFI allograft DMB
  • Entire lateral portfolio “really taking off”
  • Completing launch of InterContinental plate/spacers
  • Expects to launch 5-10 new products each year
  • Sales rep hiring has picked up significantly
  • Algea Therapies sales force >30 reps, calling on pain management physicians, interventional doctors
  • Notes competitors discounting to protect the space into which Algea is moving
  • In 7/12, closed acquisition of Soteira for $6MM + potential revenue-sharing payments based on sales
  • Expects U.S. launch of Soteira’s Shield kyphoplasty system via Algea Therapies in 1H13