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Quarterly Review

4Q13/2013 Revenue: Globus Medical

4Q13 revenue: $115.2MM, +15% (U.S. $104.1MM, +13%; ex-U.S. $11.1MM, +29%)

  • Innovative Fusion $67.1MM, +15%
  • Disruptive Technology $48.1MM, +14%

 

  • CREO pedicle screw + increased reps supported growth
  • Price pressure in low- to mid-single digits

 

2013 revenue: $434.5MM, +13% (U.S. $396.6MM, +12%; ex-U.S. $37.8MM, +25%)

  • Innovative Fusion $254MM, +6%
  • Disruptive Technology $180.5MM, +23%

 

  • Claims moderate, steady improvement in overall spine market, with relative stability in pricing, procedures and PODs
  • Added record number of net territories
  • Ex-U.S. now marketing in 28 countries with exclusive direct + exclusive distributor networks
  • Launched 16 new products, including KINEX Bioactive Bone Void Filler
  • Completed Excelsius Surgical robotic positioning acquisition, expecting product for U.S. launch in 2016 with new and existing systems
  • Secure-C continues to face reimbursement challenges
  • “Pretty strong plans” for Algea business in 2014
  • Recently notified of several hospital systems that have or will adopt a no-POD policy
  • Expects 1Q revenue impact from inclement weather
  • Medical device tax $7.2MM