Globus Medical, Inc. is a publicly traded

medical device A medical device is any device intended to be used for medical purposes. Significant potential for hazards are inherent when using a device for medical purposes and thus medical devices must be proved safe and effective with reasonable assura ...

company headquartered in

Audubon, Pennsylvania Audubon is a census-designated place (CDP) in Montgomery County, Pennsylvania, United States. It was named for naturalist John James Audubon, who lived there as a young man. The population was 8,433 at the 2010 census. Geography Audubon is loc ...

. Globus is focused on the design, development, and commercialization of products that enable surgeons to promote healing in patients with

musculoskeletal disorders Musculoskeletal disorders (MSDs) are injuries or pain in the human musculoskeletal system, including the joints, ligaments, muscles, nerves, tendons, and structures that support limbs, neck and back. MSDs can arise from a sudden exertion (e.g., li ...

Products

Globus develops, manufactures, and markets

orthopedic Orthopedic surgery or orthopedics ( alternatively spelt orthopaedics), is the branch of surgery concerned with conditions involving the musculoskeletal system. Orthopedic surgeons use both surgical and nonsurgical means to treat musculoskeletal ...

implants including

spine Spine or spinal may refer to: Science Biology * Vertebral column, also known as the backbone * Dendritic spine, a small membranous protrusion from a neuron's dendrite * Thorns, spines, and prickles, needle-like structures in plants * Spine (zoolog ...

trauma Trauma most often refers to: * Major trauma, in physical medicine, severe physical injury caused by an external source * Psychological trauma, a type of damage to the psyche that occurs as a result of a severely distressing event *Traumatic i ...

, artificial joints. Globus makes the ExcelsiusGPS surgical robotic system for spine surgery. The robot is used for transpedicular drilling and screw placement.

Acquisitions

In January 2014, Globus Medical acquired Excelsius Surgical. The Excelsius system is designed to integrate intra-operative digital imaging with a robotic surgery device to hold patients in place during surgeries "with sub-millimeter accuracy". In October 2014, Globus Medical acquired allograft tissue processor Transplant Technologies of Texas, Ltd. (TTOT). TTOT is a provider of human tissue products including bone allografts, biomaterials, and soft tissue products for spine, orthopedics, sports medicine, dental, and wound care markets. In February 2015, Globus Medical acquired Branch Medical Group, a third party manufacturer of high precision medical devices. In July 2016, Globus Medical acquired Alphatec Holdings, an international operations and distribution channel, for $80 million. As part of the transaction, Globus has agreed to provide Alphatec a five-year senior secured credit facility of up to $30 million. In September 2018, Globus Medical acquired Nemaris, developers of Surgimap, a pre-operative planning software for spinal surgeons. In August 2019, Globus Medical acquired privately-owned StelKast, manufacturer of implants and instruments for hip and knee replacement.

Controversies

In August 2007 Globus Medical settled a lawsuit initially filed by

Synthes Synthes Holding AG (formerly Synthes-Stratec) is a Multinational corporation, multinational medical device manufacturer based in Solothurn, Switzerland and West Chester, Pennsylvania, United States. It is the world's largest maker of Implant (med ...

in 2004 over alleged stolen trade secrets. Former Synthes employees, who then worked for Globus, were accused of stealing 2300 electronic files containing blueprints for Synthes products, safety-testing plans, and verbatim

510(k) The United States Federal Food, Drug, and Cosmetic Act (abbreviated as FFDCA, FDCA, or FD&C) is a set of laws passed by the United States Congress in 1938 giving authority to the U.S. Food and Drug Administration (FDA) to oversee the safety of f ...

filing documents. Globus paid Synthes $13.5 million and did not admit any wrongdoing. In 2011, Synthes filed another lawsuit, being its second, against Globus Medical for infringing three patents, "asking the court to force the defendant to destroy its allegedly infringing products." Orthopedic Design & Technology Magazine reports that, "There was no finding of willful infringement in this lawsuit." A $16 million monetary damage was paid by Globus Medical in 2013.

References

External links

Official website
{{DEFAULTSORT:GlobusMedical Medical technology companies of the United States Health care companies based in Pennsylvania Manufacturing companies based in Pennsylvania Health care companies established in 2003 2003 establishments in Pennsylvania Companies listed on the New York Stock Exchange