Document



 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM 8-K
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 1, 2018
 
 
GLOBUS MEDICAL, INC.
(Exact name of registrant as specified in charter)
 
 
 
DELAWARE
 
001-35621
 
04-3744954
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)
2560 GENERAL ARMISTEAD AVENUE, AUDUBON, PA 19403
(Address of principal executive offices) (Zip Code)
(610) 930-1800
(Registrant’s telephone number, including area code)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
o






Item 2.02. Results of Operations and Financial Condition.
On August 1, 2018, we issued a press release reporting, among other things, our sales and operating results for the three- and six- month period ended June 30, 2018. A copy of the press release is furnished as Exhibit 99.1 to this report.
In accordance with general instruction B.2 to Form 8-K, the information included in this Item 2.02, and the exhibits attached hereto, shall be deemed to be “furnished” and shall not be deemed to be “filed” with the Securities and Exchange Commission for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.
Item 9.01. Financial Statements and Exhibits.
Exhibit No.
Description
 
 
99.1
 
 






SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
 
GLOBUS MEDICAL, INC.
 
 
(Registrant)
 
 
 
Dated:
August 1, 2018
/s/ DANIEL T. SCAVILLA
 
 
 
 
 
Daniel T. Scavilla
 
 
Senior Vice President,
 
 
Chief Financial Officer



Exhibit


Exhibit 99.1


Globus Medical Reports Second Quarter 2018 Results

AUDUBON, PA, August 1, 2018: Globus Medical, Inc. (NYSE:GMED), a leading musculoskeletal solutions company, today announced its financial results for the second quarter ended June 30, 2018.
Worldwide sales were $173.4 million, an increase of 13.8% as reported
Second quarter net income was $45.0 million, an increase of 56.9%
Diluted earnings per share (EPS) and non-GAAP EPS were $0.44
Non-GAAP EPS increased 38.0% compared to second quarter of 2017
Non-GAAP adjusted EBITDA was 34.3% of sales

“The second quarter marks the third consecutive quarter of double-digit organic growth for Globus Medical, as our U.S. Spine business continues to take market share, growing by 4.2%; our international revenue increased by 7.2%; and Emerging Technologies contributed $13.8 million", said Dave Demski, CEO. "We are very pleased with the strong sales of our ExcelsiusGPS™ robotic system, and more importantly, the level of adoption we are seeing by surgeons in accounts that have purchased the technology. The synergy of this transformational technology, combined with the most innovative suite of spinal implants in the industry, is expected to provide a powerful platform for our future growth."

Worldwide sales for the second quarter were $173.4 million, an increase of 13.8% over the second quarter of 2017. Non-GAAP diluted EPS was $0.44, an increase of 38.0%.  Revenue from Emerging Technologies was primarily due to continued demand for our ExcelsiusGPS™ robotics and navigation system.

Second quarter sales in the U.S., including robotics, increased by 15.1% compared to the second quarter of 2017. International sales increased by 7.2% over the second quarter of 2017 on an as-reported basis and 4.3% on a constant currency basis.

Second quarter GAAP net income was $45.0 million, an increase of 56.9% over the same period last year. Diluted EPS for the second quarter was $0.44, as compared to $0.29 for the second quarter 2017. Non-GAAP diluted EPS for the second quarter was $0.44, compared to $0.32 in the second quarter of 2017.

The company generated net cash provided by operating activities of $33.3 million and non-GAAP free cash flow of $18.5 million in the second quarter, and ended the quarter with cash, cash equivalents and marketable securities of $516.8 million. The company remains debt free.

2018 Annual Guidance
The company today issued new guidance for full year 2018 sales of $700 million and non-GAAP fully diluted earnings per share of $1.55. 2018 guidance was previously sales of $695 million and non-GAAP fully diluted earnings per share of $1.52.

Executive Appointment
The company also announced the promotion of Dan Scavilla to the position of Executive Vice President, Chief Commercial Officer. In his new role, Mr. Scavilla will be responsible for all contracting and pricing; supply chain and logistics; and manufacturing operations; as well as continued oversight of all finance-related functions. Mr. Scavilla will continue in the role of Chief Financial Officer until the company completes its search for a new CFO.
Conference Call Information
Globus Medical will hold a teleconference to discuss its 2018 second quarter results with the investment community at 4:30 p.m. Eastern Time today. Globus invites all interested parties to join the call by dialing:





 
1-855-533-7141     United States Participants
1-720-545-0060     International Participants
There is no pass code for the teleconference.

For interested parties who do not wish to ask questions, the teleconference will be webcast live and may be accessed through a link on the Globus Medical website at investors.globusmedical.com.

The call will be archived until Wednesday, August 8, 2018. The audio archive can be accessed by calling 1-855-859-2056 in the U.S. or 1-404-537-3406 from outside the U.S. The passcode for the audio replay is 1012-6350.
About Globus Medical, Inc.
Based in Audubon, Pennsylvania, Globus Medical, Inc. was founded in 2003 by an experienced team of professionals with a shared vision to create products that enable surgeons to promote healing in patients with musculoskeletal disorders. Additional information can be accessed at www.globusmedical.com.
Non-GAAP Financial Measures
To supplement our financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”), management uses certain non-GAAP financial measures.  For example, non-GAAP adjusted EBITDA, which represents net income before interest income, net and other non-operating expenses, provision for income taxes, depreciation and amortization, stock-based compensation, provisions for litigation, technology in-licensing fee, and acquisition related costs, and net gain from the sale of assets, is useful as an additional measure of operating performance, and particularly as a measure of comparative operating performance from period to period, as it is reflective of changes in pricing decisions, cost controls and other factors that affect operating performance, and it removes the effect of our capital structure, asset base, income taxes and interest income and expense.  Our management also uses non-GAAP adjusted EBITDA for planning purposes, including the preparation of our annual operating budget and financial projections.  Provision for litigation represents costs incurred for litigation settlements or unfavorable verdicts when the loss is known or considered probable and the amount can be reasonably estimated, or in the case of a favorable settlement, when income is realized.  Acquisition related costs/licensing represents the change in fair value of business acquisition related contingent consideration; costs related to integrating recently acquired businesses including but not limited to costs to exit or convert contractual obligations, severance, and information system conversion; and specific costs related to the consummation of the acquisition process such as banker fees, legal fees, and other acquisition related professional fees, as well as one time licensing fees. Net gain from sale of assets represents the gain on sale of assets and the offsetting impact of costs incurred through the sale.





In addition, for the period ended June 30, 2018 and for other comparative periods, we are presenting non-GAAP net income and non-GAAP diluted earnings per share, which represents net income and diluted earnings per share excluding the provision for litigation, amortization of intangibles, acquisition related costs/licensing, net gain from the sale of assets and the tax effects of such adjustments.  We believe these non-GAAP measures are also useful indicators of our operating performance, and particularly as additional measures of comparative operating performance from period to period as they remove the effects of litigation, amortization of intangibles, acquisition related costs/licensing, net gain from the sale of assets and the tax effects of such adjustments, which we believe are not reflective of underlying business trends.  Additionally, for the periods ended June 30, 2018 and for other comparative periods, we also define the non-GAAP measure of free cash flow as the net cash provided by operating activities, adjusted for the impact of restricted cash, less the cash impact of purchases of property and equipment.  We believe that this financial measure provides meaningful information for evaluating our overall financial performance for comparative periods as it facilitates an assessment of funds available to satisfy current and future obligations and fund acquisitions.  Furthermore, the non-GAAP measure of constant currency sales growth is calculated by translating current year sales at the same average exchange rates in effect during the applicable prior year period.  We believe constant currency sales growth provides insight to the comparative increase or decrease in period sales, in dollar and percentage terms, excluding the effects of fluctuations in foreign currency exchange rates.
Non-GAAP adjusted EBITDA, non-GAAP net income, non-GAAP diluted earnings per share, free cash flow and constant currency sales growth are not calculated in conformity with U.S. GAAP.  Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for financial measures prepared in accordance with U.S. GAAP.  These measures do not include certain expenses that may be necessary to evaluate our liquidity or operating results.  Our definitions of non-GAAP adjusted EBITDA, non-GAAP net income, non-GAAP diluted earnings per share, free cash flow and constant currency sales growth may differ from that of other companies and therefore may not be comparable.  Additionally, we have recast prior periods for non-GAAP net income and non-GAAP diluted earnings per share.





Safe Harbor Statements
All statements included in this press release other than statements of historical fact are forward-looking statements and may be identified by their use of words such as “believe,” “may,” “might,” “could,” “will,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “plan” and other similar terms.  These forward-looking statements are based on our current assumptions, expectations and estimates of future events and trends.  Forward-looking statements are only predictions and are subject to many risks, uncertainties and other factors that may affect our businesses and operations and could cause actual results to differ materially from those predicted.  These risks and uncertainties include, but are not limited to, factors affecting our quarterly results, our ability to manage our growth, our ability to sustain our profitability, demand for our products, our ability to compete successfully (including without limitation our ability to convince surgeons to use our products and our ability to attract and retain sales and other personnel), our ability to rapidly develop and introduce new products, our ability to develop and execute on successful business strategies, our ability to successfully integrate the international operations acquired from Alphatec, both in general and on our anticipated timeline, our ability to transition Alphatec’s international customers to Globus products, our ability to realize the expected benefits to our results from the Alphatec acquisition, our ability to comply with laws and regulations that are or may become applicable to our businesses, our ability to safeguard our intellectual property, our success in defending legal proceedings brought against us, trends in the medical device industry, general economic conditions, and other risks.  For a discussion of these and other risks, uncertainties and other factors that could affect our results, you should refer to the disclosure contained in our most recent annual report on Form 10-K filed with the Securities and Exchange Commission, including the sections labeled “Risk Factors” and “Cautionary Note Concerning Forward-Looking Statements,” and in our Forms 10-Q, Forms 8-K and other filings with the Securities and Exchange Commission.  These documents are available at www.sec.gov.  Moreover, we operate in an evolving environment.  New risk factors and uncertainties emerge from time to time and it is not possible for us to predict all risk factors and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.  Given these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements.  Forward-looking statements contained in this press release speak only as of the date of this press release.  We undertake no obligation to update any forward-looking statements as a result of new information, events or circumstances or other factors arising or coming to our attention after the date hereof.





GLOBUS MEDICAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(unaudited)

 
Three Months Ended
 
Six Months Ended
(In thousands, except per share amounts)
June 30,
2018
 
June 30,
2017
 
June 30,
2018
 
June 30,
2017
Sales
$
173,384

 
$
152,390

 
$
347,795

 
$
308,199

Cost of goods sold
37,637

 
37,199

 
75,607

 
72,799

Gross profit
135,747

 
115,191

 
272,188

 
235,400

 
 
 
 
 
 
 
 
Operating expenses:
 
 
 
 
 
 
 
Research and development
13,523

 
10,713

 
26,210

 
21,379

Selling, general and administrative
77,125

 
64,438

 
152,819

 
131,497

Provision for litigation

 
243

 

 
243

Amortization of intangibles
2,178

 
1,809

 
4,365

 
3,591

Acquisition related costs
782

 
617

 
1,021

 
1,005

Total operating expenses
93,608

 
77,820

 
184,415

 
157,715

 
 
 
 
 
 
 
 
Operating income
42,139

 
37,371

 
87,773

 
77,685

Other income/(expense), net
8,165

 
2,186

 
10,609

 
4,286

Income before income taxes
50,304

 
39,557

 
98,382

 
81,971

Income tax provision
5,327

 
10,890

 
13,866

 
24,590

 
 
 
 
 
 
 
 
Net income
$
44,977

 
$
28,667

 
$
84,516

 
$
57,381

 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
Basic
$
0.46

 
$
0.30

 
$
0.87

 
$
0.60

Diluted
$
0.44

 
$
0.29

 
$
0.84

 
$
0.59

Weighted average shares outstanding:
 
 
 
 
 
 
 
Basic
97,830

 
96,161

 
97,337

 
96,079

Diluted
101,510

 
97,818

 
101,005

 
97,483






GLOBUS MEDICAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except par value)
June 30,
2018
 
December 31,
2017
 
 
 
 
ASSETS
(unaudited)
 
 
Current assets:
 
 
 
Cash and cash equivalents
$
119,944

 
$
118,817

Short-term marketable securities
240,976

 
254,890

Accounts receivable, net of allowances of $3,924 and $3,963, respectively
118,561

 
116,676

Inventories
114,758

 
108,409

Prepaid expenses and other current assets
16,943

 
11,166

Current portion of note receivable
3,333

 
1,667

Income taxes receivable
18,709

 
8,717

Total current assets
633,224

 
620,342

Property and equipment, net of accumulated depreciation of $204,760 and $191,760, respectively
154,342

 
143,167

Long-term marketable securities
155,859

 
56,133

Note receivable
26,667

 
28,333

Intangible assets, net
74,973

 
78,659

Goodwill
123,750

 
123,890

Other assets
7,202

 
7,947

Deferred income taxes
17,816

 
20,031

Total assets
$
1,193,833

 
$
1,078,502

 
 
 
 
LIABILITIES AND EQUITY
 
 
 
Current liabilities:
 
 
 
Accounts payable
$
20,727

 
$
25,039

Accrued expenses
47,978

 
52,594

Income taxes payable
2,979

 
3,274

Business acquisition liabilities
6,507

 
11,411

Deferred revenue
2,089

 
755

Total current liabilities
80,280

 
93,073

Business acquisition liabilities, net of current portion
3,815

 
4,508

Deferred income taxes
9,991

 
10,669

Other liabilities
2,561

 
2,474

Total liabilities
96,647

 
110,724

Commitments and contingencies
 
 
 
Equity:
 
 
 
Common stock; $0.001 par value. Authorized 785,000 shares; issued and outstanding 98,248 and 96,658 shares at June 30, 2018 and December 31, 2017, respectively
98

 
97

Additional paid-in capital
283,132

 
238,341

Accumulated other comprehensive loss
(6,807
)
 
(6,907
)
Retained earnings
820,763

 
736,247

Total equity
1,097,186

 
967,778

Total liabilities and equity
$
1,193,833

 
$
1,078,502






GLOBUS MEDICAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
 
Six Months Ended
(In thousands)
June 30,
2018
 
June 30,
2017
Cash flows from operating activities:
 
 
 
Net income
$
84,516

 
$
57,381

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation and amortization
19,233

 
22,935

Amortization of premium on marketable securities
1,477

 
1,855

Write-down for excess and obsolete inventories
5,406

 
4,962

Stock-based compensation expense
11,533

 
7,062

Allowance for doubtful accounts
312

 
958

Change in fair value of business acquisition liabilities
416

 
811

Change in deferred income taxes
1,429

 
(4,238
)
(Gain)/loss on disposal of assets, net
(3,947
)
 

(Increase)/decrease in:
 
 
 
Accounts receivable
(2,257
)
 
(3,172
)
Inventories
(11,120
)
 
(4,652
)
Prepaid expenses and other assets
(3,303
)
 
8,506

Increase/(decrease) in:
 
 
 
Accounts payable
(5,751
)
 
(1,660
)
Accrued expenses and other liabilities
(2,104
)
 
(4,497
)
Income taxes payable/receivable
(10,276
)
 
(6,825
)
Net cash provided by operating activities
85,564

 
79,426

 
 
 
 
Cash flows from investing activities:
 
 
 
Purchases of marketable securities
(309,223
)
 
(138,286
)
Maturities of marketable securities
158,102

 
103,398

Sales of marketable securities
63,741

 
32,688

Purchases of property and equipment
(27,167
)
 
(25,061
)
Proceeds from sale of assets
3,000

 

Acquisition of businesses, net of cash acquired

 
(31,501
)
Net cash used in investing activities
(111,547
)
 
(58,762
)
 
 
 
 
Cash flows from financing activities:
 
 
 
Payment of business acquisition liabilities
(5,950
)
 
(5,234
)
Proceeds from exercise of stock options
33,131

 
5,911

Net cash (used in)/provided by financing activities
27,181

 
677

 
 
 
 
Effect of foreign exchange rate on cash
(71
)
 
450

 
 
 
 
Net increase in cash, cash equivalents, and restricted cash
1,127

 
21,791

Cash, cash equivalents, and restricted cash, beginning of period
118,817

 
67,431

Cash, cash equivalents, and restricted cash, end of period
$
119,944

 
$
89,222

 
 
 
 
Supplemental disclosures of cash flow information:
 
 
 
Interest paid

 
21

Income taxes paid
$
22,667

 
$
35,475







Supplemental Financial Information

Sales by Geographic Area:
(Unaudited)
Three Months Ended
 
Six Months Ended
(In thousands)
June 30,
2018
 
June 30,
2017
 
June 30,
2018
 
June 30,
2017
United States
$
145,381

 
$
126,271

 
$
290,997

 
$
255,934

International
28,003

 
26,119

 
56,798

 
52,265

Total sales
$
173,384

 
$
152,390

 
$
347,795

 
$
308,199

 
Sales by Revenue Stream:
(Unaudited)
Three Months Ended
 
Six Months Ended
(In thousands)
June 30,
2018
 
June 30,
2017
 
June 30,
2018
 
June 30,
2017
Spine products
$
159,569

 
$
152,390

 
$
321,197

 
$
308,199

Emerging Technology products
13,815

 

 
26,598

 

Total sales
$
173,384

 
$
152,390

 
$
347,795

 
$
308,199

Liquidity and Capital Resources:
(Unaudited)
June 30,
2018
 
December 31,
2017
(In thousands)
 
 
 
Cash and cash equivalents
$
119,944

 
$
118,817

Short-term marketable securities
240,976

 
254,890

Long-term marketable securities
155,859

 
56,133

Total cash, cash equivalents and marketable securities
$
516,779

 
$
429,840









The following tables reconcile GAAP to Non-GAAP financial measures.
Non-GAAP Adjusted EBITDA Reconciliation Table:
(Unaudited)
Three Months Ended
 
Six Months Ended
(In thousands, except percentages)
June 30,
2018
 
June 30,
2017
 
June 30,
2018
 
June 30,
2017
Net income
$
44,977

 
$
28,667

 
$
84,516

 
$
57,381

Interest income, net
(2,971
)
 
(1,590
)
 
(5,262
)
 
(3,008
)
Provision for income taxes
5,327

 
10,890

 
13,866

 
24,590

Depreciation and amortization
9,757

 
10,695

 
19,233

 
22,935

EBITDA
57,090

 
48,662

 
112,353

 
101,898

Stock-based compensation expense
5,480

 
3,571

 
11,533

 
7,062

Provision for litigation

 
243

 

 
243

Acquisition related costs
1,285

 
968

 
1,677

 
2,054

Net gain from sale of assets
(4,357
)
 

 
(4,357
)
 

Adjusted EBITDA
$
59,498

 
$
53,444

 
$
121,206

 
$
111,257

 
 
 
 
 
 
 
 
Net income as a percentage of sales
25.9
%
 
18.8
%
 
24.3
%
 
18.6
%
Adjusted EBITDA as a percentage of sales
34.3
%
 
35.1
%
 
34.8
%
 
36.1
%

Non-GAAP Net Income Reconciliation Table:
(Unaudited)
Three Months Ended
 
Six Months Ended
(In thousands)
June 30,
2018
 
June 30,
2017
 
June 30,
2018
 
June 30,
2017
Net income
$
44,977

 
$
28,667

 
$
84,516

 
$
57,381

Provision for litigation

 
243

 

 
243

Amortization of intangibles
2,178

 
1,809

 
4,365

 
3,591

Acquisition related costs
1,285

 
968

 
1,677

 
2,054

Net gain from sale of assets
(4,357
)
 

 
(4,357
)
 

Tax effect of adjusting items
95

 
(840
)
 
(238
)
 
(1,766
)
Non-GAAP net income
$
44,178

 
$
30,847

 
$
85,963

 
$
61,503






Non-GAAP Diluted Earnings Per Share Reconciliation Table:
(Unaudited)
Three Months Ended
 
Six Months Ended
(Per share amounts)
June 30,
2018
 
June 30,
2017
 
June 30,
2018
 
June 30,
2017
Diluted earnings per share, as reported
$
0.44

 
$
0.29

 
$
0.84

 
$
0.59

Provision for litigation

 

 

 

Amortization of intangibles
0.02

 
0.02

 
0.04

 
0.04

Acquisition related costs
0.01

 
0.01

 
0.02

 
0.02

Net gain from sale of assets
(0.04
)
 

 
(0.04
)
 

Tax effect of adjusting items

 
(0.01
)
 

 
(0.02
)
Non-GAAP diluted earnings per share
$
0.44

 
$
0.32

 
$
0.85

 
$
0.63

* amounts might not add due to rounding
 
 
 
 
 
 
 
Non-GAAP Free Cash Flow Reconciliation Table:
(Unaudited)
Three Months Ended
 
Six Months Ended
(In thousands)
June 30,
2018
 
June 30,
2017
 
June 30,
2018
 
June 30,
2017
Net cash provided by operating activities
$
33,269

 
$
25,976

 
$
85,564

 
$
79,425

Adjustment for impact of restricted cash

 
1

 

 
1

Purchases of property and equipment
(14,793
)
 
(13,528
)
 
(27,167
)
 
(25,061
)
Non-GAAP free cash flow
$
18,476

 
$
12,449

 
$
58,397

 
$
54,365

Non-GAAP Sales on a Constant Currency Basis Comparative Table:
(Unaudited)
Three Months Ended
 
Reported Growth
 
Currency Impact on Current Period
 
Constant Currency Growth
(In thousands, except percentages)
June 30,
2018
 
June 30,
2017
 
 
 
United States
$
145,381

 
$
126,271

 
15.1
%
 

 
15.1
%
International
28,003

 
26,119

 
7.2
%
 
$
771

 
4.3
%
Total sales
$
173,384

 
$
152,390

 
13.8
%
 
$
771

 
13.3
%
(Unaudited)
Six Months Ended
 
Reported Growth
 
Currency Impact on Current Period
 
Constant Currency Growth
(In thousands, except percentages)
June 30,
2018
 
June 30,
2017
 
 
 
United States
$
290,997

 
$
255,934

 
13.7
%
 

 
13.7
%
International
56,798

 
52,265

 
8.7
%
 
$
2,497

 
3.9
%
Total sales
$
347,795

 
$
308,199

 
12.8
%
 
$
2,497

 
12.0
%

Contact:
Brian Kearns
Vice President, Business Development and Investor Relations
Phone: (610) 930-1800
Email:     investors@globusmedical.com
www.globusmedical.com