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Globus Medical (GMED) Completes First Cases With Excelsius3D

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Globus Medical, Inc. (GMED - Free Report) recently announced the first surgeries performed with the Excelsius3D, an intelligent, intraoperative 3-in-1 imaging platform. The first clinical cases using Excelsius3D with ExcelsiusGPS were performed at the MedStar Union Memorial Hospital, Northwest Specialty Hospital and NYU Langone Health.

The Excelsius3D is the newest addition to Globus Medical’s Excelsius Ecosystem. When combined with the ExcelsiusGPS robotic navigation system, Excelsius3D delivers a superior intraoperative, image-guided robotic navigation solution and is developed to enhance implant placement accuracy, lower radiation exposure and reduce operative times.

This latest development is likely to boost Globus Medical’s enabling technologies business.

Few Words on the Excelsius3D

The Excelsius3D is a mobile X-ray system for 2D fluoroscopy, 2D digital radiography, and 3D imaging of adult and pediatric patients. The system is intended for use in situations where a physician requires 2D and 3D information on anatomic structures and high contrast objects with high x-ray attenuation. At present, the Excelsius3D is commercially available in the United States.

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The ExcelsiusGPS has performed more than 700 cases at the Northwest Specialty Hospital. The addition of Excelsius3D will enable doctors to provide patients with more effective solutions to improve surgical outcomes.

At NYU Langone Health, the inclusion of the Excelsius3D within the operating room has streamlined the navigation workflow with ExcelsiusGPS. The novel intraoperative imaging technology allows physicians to visualize anatomy, provides three imaging modes in a single comprehensive system and is easier to maneuver and position for radiology technicians.

At the MedStar Union Memorial Hospital, the Excelsius3D with ExcelsiusGPS has enabled physicians to perform surgery with minimally-invasive techniques.

Industry Prospects

Per a report published in MarketsandMarkets, the global intraoperative imaging market size is expected to see a CAGR of 5.2% by 2025. Factors such as technological advancements, increased funding and public-private investments and a pressing need for early detection, among other factors, are supporting market growth.

Given the market prospects, the first surgeries performed with the Excelsius3D seem well-timed.

Other Notable Developments

During the first quarter of 2022, Globus Medical’s revenues inched up 1.4% on a reported basis and 1.9% at constant currency despite a challenging business environment. Sales generated in the United States rose 1.6% year over year. Revenues from musculoskeletal solutions products rose 2.3% year over year on robust growth within the U.S. spine business.

In its first-quarter 2022 earnings call, the company mentioned the launch of HEDRON P — a 3D printed articulating lumbar interbody spacer. The HEDRON P adds to one of the company’s fastest-growing product lines, HEDRON, and expands the articulating spacer offering along with the SIGNATURE and ALTERA.

Price Performance

The stock has outperformed its industry in the past year. GMED has declined 8.1% compared with the industry’s 17.6% fall.

Zacks Rank and Key Picks

Currently, Globus Medical carries a Zacks Rank #3 (Hold).

A few better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Medpace Holdings, Inc. (MEDP - Free Report) and UnitedHealth Group Incorporated (UNH - Free Report) .

AMN Healthcare has a long-term earnings growth rate of 1.1%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 15.6%, on average. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

AMN Healthcare has outperformed its industry in the past year. AMN has declined 1.1% versus the industry’s 63.3% fall.

Medpace has a historical growth rate of 27.3%. Medpace’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.1%. It currently has a Zacks Rank #2 (Buy).

Medpace has outperformed its industry in the past year. MEDP has declined 20.7% against the industry’s 63.3% fall.

UnitedHealth has an estimated long-term growth rate of 14.8%. UnitedHealth’s earnings surpassed estimates in the trailing four quarters, the average surprise being 3.7%. It currently carries a Zacks Rank #2.

UnitedHealth has outperformed the industry over the past year. UNH has gained 15.4% compared with 13.4% industry growth in the said period.