AUDUBON, Pa., April 20 /PRNewswire/ -- Globus Medical, Inc., the largest privately held spinal implant manufacturer in the world, today announced record revenue for the quarter ending March 31, 2007. The Company recorded revenues of $26.5 million for the quarter -- an increase of 46% over the $18.2 million it achieved in the same quarter last year. The Company also announced that it is actively recruiting sales professionals in several attractive geographic markets.
According to Dave Demski, Chief Financial Officer, Globus Medical, the record revenue was fueled by sustained momentum from recent product introductions. “With the addition of our MARS(R) minimally invasive retractor system to our already successful PIVOT(R) MIS system, Globus has quietly become a leader in MIS technology,” said Demski. “While 2007 is off to a great start, you can expect to see several more exciting developments on the technology front over the next few months, particularly with respect to motion preservation and biomaterials technology.”
Rick Kienzle, Executive Vice President, Sales and Marketing, Globus Medical, commented on the Company’s results. “The Globus product development engine has created an unprecedented opportunity for sales professionals in our industry,” said Kienzle. “The breadth and depth of our product portfolio -- with innovation across the spectrum of fusion, MIS, motion preservation and biomaterials -- enables our representatives to offer a product line that matches the largest players in our industry. When you couple that with the ability to address an expanded geography and an attractive compensation structure, the result is an exceptional opportunity that will not be available indefinitely.”
The Company announced that it is seeking to fill numerous positions in field sales management, with particular emphasis in the Midwest and Western U.S. Globus is actively recruiting direct sales representatives and, in special circumstances, exclusive distributors, in several attractive geographic markets.
About Globus Medical, Inc.
Globus Medical, Inc. is one of the ten largest spinal implant manufacturers in the world, with more than $100 million in annualized revenues. Based in Audubon, Pa., the privately held company was founded in 2003 by an experienced team of spine professionals with a shared vision to create products that enable spine surgeons to employ both fusion and non- fusion solutions to promote healing in patients with spinal disorders. Globus Medical has a full portfolio of spinal fusion products, burgeoning initiatives in biomaterials development and minimally invasive approaches, and is among the world leaders in the development of motion sparing technology. Additional information can be accessed at http://www.globusmedical.com.
Globus Medical, Inc.
CONTACT: Barbara Link, +1-610-668-2855, barbara@linkink.com, for GlobusMedical, Inc.
Web site: http://www.globusmedical.com/
