Globus Medical, Inc
Globus Medical is a U.S.-based medical device company focused on musculoskeletal care, with products used in spine, orthopedic trauma, hip, knee, extremity and neurosurgical procedures. It combines implantable devices, biologics, surgical instruments and enabling technologies such as robotics and navigation to help surgeons perform procedures more efficiently and reproducibly.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueImplantable devices, biologics, accessories, unique surgical instruments, neuromonitoring and stimulation products used in spine and orthopedic procedures.
Advanced hardware, software and related technologies that improve surgical precision, workflow and reproducibility.
Products
Reported · share of revenue- Musculoskeletal Solutions95.2 %
- Enabling Technologies4.8 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
Globus sells primarily to hospitals, ambulatory surgery centers and physicians that perform musculoskeletal procedures and need both implants and the supporting surgical workflow tools. Its products are bought to improve surgical outcomes, reduce procedure complexity and support surgeon preference across a broad range of spine and orthopedic cases.
Buy implant sets, instruments, biologics and enabling technologies for inpatient and outpatient musculoskeletal procedures.
Buy procedure-ready systems and technologies that support faster, more efficient outpatient surgery.
Influence product selection and buy or specify surgeon-preferred implants, tools and navigation systems.
Sell and support Globus products in non-U.S. markets where direct coverage is not used.
Strategy
Globus is focused on expanding its U.S. sales force, deepening penetration in existing territories and broadening coverage into new geographies. It is also pursuing international expansion and selective acquisitions to add technology, clinical capability and market access, while continuing to launch new products across its musculoskeletal portfolio.
More reps and broader coverage should increase procedure adoption and deepen account penetration.
Broader non-U.S. commercialization diversifies revenue and extends the installed base for products and technologies.
Acquisitions can add technology, personnel and market access that accelerate growth and product breadth.
Frequent launches support surgeon adoption and help defend share in a competitive device market.
Geography
Q1/2026Globus is headquartered in Audubon, Pennsylvania and operates globally, with sales presence in 65 countries worldwide and direct or distributor coverage in 64 countries outside the U.S. The U.S. remains the largest market, but international growth matters because the company is still expanding its commercial footprint across Europe, the Middle East, Asia Pacific and Latin America.
Share of the revenue the company reports by geography.
Risks
Globus faces execution risk from integrating acquisitions, maintaining surgeon and hospital adoption, and managing a global supply chain that depends on third-party suppliers and international operations. It also faces regulatory, reimbursement, litigation and foreign-exchange risks typical of medical device companies, with tariff policy and customer credit exposure adding pressure to margins and cash flow.
- Acquisition integration riskImpact: HighLikelihood: Medium
The company has grown through acquisitions and may not realize expected synergies or product benefits.
Exposure - Competitive adoption riskImpact: HighLikelihood: Medium
Revenue depends on convincing surgeons and hospitals that Globus systems are preferable to alternatives.
Exposure - Regulatory and compliance riskImpact: HighLikelihood: Medium
Medical device marketing, manufacturing and biologics activities are subject to FDA and fraud-and-abuse rules.
Exposure: U.S. and foreign regulatory regimes
- Tariff and supply-chain disruptionImpact: MediumLikelihood: High
Tariffs or countermeasures can increase input costs and disrupt global sourcing and distribution.
Exposure: International supply chain and third-party suppliers
- Foreign exchange and international operationsImpact: MediumLikelihood: High
Non-U.S. revenue and costs create translation and transaction exposure.
Exposure
Accounting
Judgemental itemsImplants are recognized when used or control transfers, while services and support may be recognized over time.
Impact: Can shift revenue between quarters and affect comparability
Acquisitions create goodwill that must be tested annually or when indicators arise.
Impact: Potential non-cash impairment charges
Recent acquisitions require fair value allocation of assets and liabilities, with possible bargain purchase gains.
Impact: Can create volatile non-operating gains
Field inventory, consigned sets and surgical instruments require judgment on obsolescence and recoverability.
Impact: Affects cost of sales and gross margin
International operations generate gains and losses from currency movements.
Impact: Can move other income/expense and net income
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Last updated: 24/09/2026