Globus Medical, a musculoskeletal implant manufacturer, announced the launch of MONUMENT, an anterior spondylolisthesis reduction system.
Here are five key facts about the device and the company.
1. The MONUMENT system is an anterior lumbar interbody fusion device with a built-in mechanical feature designed to aid in spondylolisthesis reduction.
"MONUMENT offers the benefits of an integrated ALIF system and simple, intuitive instruments combined with in-situ implant reduction, making it an attractive surgical solution for patients with spondylolisthesis," said Christopher Tomaras, MD, neurosurgeon at Peachtree Neurosurgery in Atlanta, Ga., in a news release.
2. The MONUMENT Spacer is available in different sizes, heights and sagittal angles to accommodate the lumbar and sacral spine, including L5-S1. The device is intended for use with supplemental fixation.
3. The company has developed a wide array of devices for spinal conditions, including the AFFIRM integrated vertebral augmentation system, BEACON Stabilization System and the FORGE Cervical Allograft Spacer. The company also released the CREO modular pedicle screw platform at the 2013 North American Spine Society annual meeting.
4. Globus Medical earned a net income of $21.1 million in the first quarter of 2014, up from $19.8 million during the same period last year. The company also reported its sales in Q1 were $114.2 million, up from $105 million reported in the same period last year. The company reported a gross profit of $88.9 million.
Earlier this year, it acquired Excelsius Surgical, a company developing next generation surgical robotic positioning platforms for spine, brain and therapeutic uses.
5. Globus Medical was mentioned as a key player in the U.S. spinal surgery market in a report released by Research and Markets. The market registered a compound annual growth rate of 5.8 percent from 2007 to 2012, and it is expected to grow at a CAGR of 4.8 percent from 2013 to 2017.
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