Globus Medical, Inc. ( GMED Quick Quote GMED - Free Report) recently announced that its ExcelsiusGPS Robotic Navigation system has been utilized to perform over 20,000 spine procedures. The number of procedures that incorporate the ExcelsiusGPS platform is recorded at an all-time high.
From beginning till the end, ExcelsiusGPS offers a comprehensive approach to spine procedures. It is known to be the only robotic navigation platform that addresses the gaps of standard navigation and current robotic technologies.
The robotic navigation system works with any Preoperative computed tomography (CT), Intraoperative CT and Intraoperative Fluoroscopy. It can combine streamlined preoperative or intraoperative planning with fully-integrated robotic trajectory alignment for a wide spectrum of spine applications.
The recent milestone for the ExcelsiusGPS platform is likely to provide a significant boost to Globus Medical’s robotics business.
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The ExcelsiusGPS platform is developed particularly to control the limitations associated with minimally-invasive surgery. This in turn enables surgeons to focus on patient care by eliminating multiple stress factors and helping to maintain navigation integrity.
The robotic navigation platform has helped in improving accuracy, lowering radiation and generating time savings in comparison to traditional spine procedures.
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The platform’s multifunctionality, imaging versatility and unique real-time information enable accurate trajectory alignment with integrated navigation for placing screws, for navigated disc preparation, and for placing interbody implants.
Industry Prospects Per a report published in GLOBE NEWSWIRE, the global surgical robotics and navigation market valued is expected to see a CAGR of 21.7% by 2027. Factors driving market growth include development of several user-friendly and technologically developed robotic platforms, increase in automation in the healthcare sector, growing demand for minimally-invasive treatments, and higher adoption of advanced technology in developed and developing economies.
Given the substantial market prospects, the recent completion of 20,000 spine procedures with Globus Medical’s ExcelsiusGPS platform come at an opportune time.
In its earnings call for the first quarter of 2021, Globus Medical introduced the CORBEL Lateral ALIF system. The CORBEL system features a novel retractor and an innovative interbody spacer designed for the L5-S1 disc space through a lateral patient position. This system is the latest addition to the most comprehensive suite of lateral interbody solutions available in the market at present.
In April 2021, the company launched CREO ONE, the market’s first robotic screw designed for spine surgery with ExcelsiusGPS. The CREO ONE simplifies pedicle preparation while maintaining navigational accuracy and increasing pullout strength by 86% compared to traditional pedicle screws tapped to size.
Share Price Performance
The stock has outperformed its
industry over the past year. It has rallied 63.1% compared to the industry’s 13.9% growth. Zacks Rank and Key Picks
Currently, Globus Medical carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the broader medical space include
Apollo Medical Holdings, Inc. ( AMEH Quick Quote AMEH - Free Report) , Envista Holdings Corporation ( NVST Quick Quote NVST - Free Report) and Teleflex Incorporated ( TFX Quick Quote TFX - Free Report) .
Apollo Medical, which carries a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 20%. You can see
the complete list of today’s Zacks #1 Rank stocks here.
Envista Holdings, which carries a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 26.4%.
Teleflex, sporting a Zacks Rank #2, has a long-term earnings growth rate of 11%.