Globus Medical (GMED) Simplifies Spine Surgery With CREO ONE
Globus Medical, Inc. GMED recently announced its first surgeries with its just-launched CREO ONE. Notably, the CREO ONE is the first robotic screw in the market intended for spine surgery with ExcelsiusGPS.
CREO ONE screws are compatible with CREO MIS and CREO AMP screw heads and is part of the CREO AMP family. CREO ONE uses existing CREO navigation instruments.
For investors’ note, Globus Medical is a musculoskeletal solutions company focused on developing products that enable surgeons to promote healing in patients with musculoskeletal disorders.
The latest development is likely to enhance Globus Medical Musculoskeletal Solutions offerings.
More in the News
CREO ONE simplifies pedicle preparation by enhancing the company’s groundbreaking modular pedicle screw platform while maintaining navigational accuracy and increasing pullout strength by 86% as compared to traditional pedicle screws tapped to size. The screw is the first of its kind to provide this level of advanced robotic integration, streamlined workflow and pullout strength.
The CREO ONE screws save time and improve efficiency by reducing procedural steps. The screw completely eliminates the need to tap and further streamline the operative workflow.
The awl-style tip allows the screw to follow a pre-planned trajectory and maintain the navigational accuracy without performing traditional pedicle preparation, which makes the entire process more reliable.
Developments in Spine Segment
During the fourth-quarter 2020 earnings release, Globus Medical reported that its U.S revenues grew 12% led by the strong performance of US Spine (up 5% year over year). The company also reported that the US Spine business continued to take significant market share, growing nearly 12% even as COVID-related shutdowns became more pronounced as the quarter progressed.
In November, Globus Medical announced its first surgeries with ExcelsiusGPS Interbody Solutions. The system offered best-in-class responsiveness through next-generation software, advanced merging capabilities, and faster robotic arm movement. With the use of navigated instruments to target planned interbody trajectories and optimal port or retractor placement, ExcelsiusGPS Interbody Solutions seamlessly enhanced surgeon workflow.
Industry Prospects
Per a report by MaketsandMarkets, the global spinal implants and surgery devices market is projected to reach $13.8 billion by 2025 from $10.3 billion in 2019, at a CAGR of 5%. Advancements in spine surgery technologies, increasing incidence of spinal disorders and the rising adoption of minimally-invasive spine surgeries are driving the market.
Price Performance
Shares of the company have gained 57.2% in a year’s time compared with the industry’s growth of 31.5%.
Zacks Rank and Key Picks
Currently, Globus Medical carries a Zacks Rank #4 (Sell).
A few better-ranked stocks from the broader medical space include Integer Holdings Corporation ITGR, Cantel Medical Corp. CMD and ConforMIS, Inc. CFMS, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Integer Holdings has a projected long-term earnings growth rate of 27%.
Cantel Medical has an estimated long-term earnings growth rate of 19%.
ConforMIS has a projected long-term earnings growth rate of 42%.
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