Hello my dears,
I wish you all the best for Christmas.
And I would like to give you a brief introduction to an alternative to the popular and rather well-known company $ISRG (+2.8%) Intuitive.
I like the fact that sales, profit, EbiT margin and free cash flow are increasing.
Globus Medical: Market leader in robotic spine surgery records record installations!
The company specializes in the development and sale of innovative products for the treatment of musculoskeletal disorders. The acquisition of Excelsius Surgical at the beginning of 2014, which marked the company's early entry into the robotics market, makes the story particularly exciting. The ExcelsiusGPS system is the only system of its kind to date to combine a rigid robotic arm with comprehensive navigation capabilities for repeatable and precise alignment of implants in a single platform. On August 6, the company reported solid Q2 figures and raised its revenue forecast for the current fiscal year 2024 to USD 2.47 to 2.49 billion, which corresponds to growth of around 58%. On October 14, BTIG raised its target for the share slightly to USD 78 and maintained a Buy rating.
The medical technology company Globus Medical (GMED) only merged with NuVasive in September 2023, transforming it into a leading global provider of treatment options for musculoskeletal disorders. With a USD 50 billion market opportunity in over 30 countries, the company specializes in the musculoskeletal system of patients and supplies instruments and implants for spinal, cranial, hip and knee surgeries. However, the ExcelciusGPS system, which was approved in 2017 and makes Globus Medical the market leader in robot-assisted spinal surgery, is particularly exciting. Doctors can perform precise incisions and, thanks to the combination with the 3DExcelsius imaging system, also plan and perform operations better with real-time scans. With FDA approval secured on June 14 for
ExcelsiusFlex on June 14, the company is now also entering the field of knee replacement surgery and thus attacking Stryker (SYK).
In the second quarter, not only was an increase in sales of almost 116 % reported, but also the highest robot installations in the company's history, which increased by 59 % year-on-year. Procedures also increased by 26 % and there have already been 77,000 procedures since the market launch. Demand for rented devices is particularly strong, which is diluting growth in the short term with fewer individual sales. Robots were only responsible for USD 37 million in the last quarter and the market is still in its infancy, according to CEO Daniel Scavilla. Nevertheless, he emphasized that "Globus' potential has never been greater as we redefine surgery with procedural solutions based on assistive technology".
The company is already profitable and the P/E ratio should fall from the current 24.2 to 15.2 by 2027. This makes it an attractively valued story with robotics growth potential.
Hands-free navigation provides surgeons with real-time visualization of instrument placement to reduce reliance on X-rays during spinal surgery. This also facilitates accurate placement of screws and interbody spacer implants and can reduce radiation exposure in the OR compared to traditional fluoroscopy. ExcelsiusHub™ offers advantages over other navigation systems through features that improve the safety and reproducibility of spinal navigation, such as real-time patient array monitoring, tissue-sparing drills and registration flexibility.
"This launch expands the capabilities and reach of our Excelsius™ ecosystem," said Daniel Scavilla, President and CEO of Globus Medical.
technology platform that meets the needs of a wide range of surgeons and hospitals, with a design and footprint suitable for both hospital and ASC settings. We look forward to continuing to support our customers with technology designed for less invasive procedures with potentially less radiation exposure."
"We have had great success with the introduction of the ExcelsiusGPS™ robot and Excelsius3D™ imaging systems in spine surgery at our facility," said Dr. John O'Toole, Professor of Neurosurgery, Co-Director of the Comprehensive Spine Tumor Clinic and the Neuroscience Service Line and Director of the Neurosurgery Spine Fellowship, Rush University Medical Center in Chicago. "The addition of the ExcelsiusHub™ expands our options within the intraoperative navigation platform for precise implant placement and surgical efficiency in a wide range of cases."
ExcelsiusHub™ offers the following differentiated features:
- Enhanced safety features that combine navigation accuracy with innovative patient safety features, such as patient array shift tracking and DuraPro™ Oscillation System navigation;
- Imaging versatility with three different workflows: Automated registration with Excelsius3D™, CT and fluoroscopy fusion for preoperative implant planning and rapid intraoperative re-registration, and intraoperative 2D navigation; and
- Navigation with world-class Globus instruments and implants for a complete procedural solution from the cervical spine to the sacrum.
