Atlanta, GA – Scibility Media – 11/20/2014.
Globus Medical Inc (NYSE:GMED), known for musculoskeletal implants, is in full-action as it tries to scale up its business through a number of right moves. The recent quarterly performance is proof of the company’s successful execution of its business model, which is achieved through new and innovative product launches and sales expansion. The company has reported significantly improved results in its latest third quarter, where its revenue touched a record high of $117.8 million, adding 9.9% over the previous year’s quarter. The sales in the U.S. too grew by 8.7% year-over-year.
Sticking To Business Model
Among the several achievements that marked the year for Globus Medical Inc (NYSE:GMED), one prominent move is its acquisition of Transplant Technologies of Texas or TTOT. The acquisition will help the company to transform its presence in the $800 million worth of regenerative biologics market share. San Antonio based TTOT is an allograft tissue processing and manufacturing company, which has catered to the needs of more than 6000,000 patients in the past 20 years. Thus, the acquisition will help Globus to take leverage from TTOT’s existing portfolio and synergies from the operations of two entities.
New Product Launches
Alongside this, Globus Medical Inc (NYSE:GMED) has also been rolling out new products and its year-to-date new lauches has touched the count of 13. The most recent of these launches are SILC and ALTERA. SILC takes aim on offering solution for deformity correction and is particularly useful in spinal curvature correction where pedicle fixation is not an option.
At the same time, the company has rolled out ALTERA to take care of various challenges during insertion of spacer. The product is designed so as to improve the results of lordosis and sagittal results from a posterior approach. Thus, ALTERA is a notable addition into the company’s portfolio, which comprises of CALIBER, LATIS, MONUMENT and CALIBER -L. With these measures, Globus Medical Inc (NYSE:GMED) has only solidified its market position.
NuVasive’s New Results
If Globus is prepping up its portfolio, then NuVasive, Inc. (NASDAQ:NUVA) is also generating notable revenue from its rich portfolio. The evidence of the same comes from recent third-quarter results reported by the company. In its recent quarter, the company recorded 12.3% growth in its revenue to $189.9 million against $169.2 million achieved in previous year’s third quarter. The numbers have comfortably surpassed the analysts’ expectation of $ 179.3 million.
The performance during the quarter came largely on accont of better-than-expected outcomes of the company’s ALIF ACR and XLIF Decade Plate. Particularly, ALIF ACR has an upper hand over tradition form of ALIF with respect to deformity in the sagittal plane. It could be corrected through the use of ALIF ACR procedure. As expected, the market share of the company in spinal fusion space with anterior approach. At the same time, NuVasive, Inc. (NASDAQ:NUVA)’s XLIF Decade Plate too witnessed increased growth as it provides excellent support to surgeons.
Single Position Surgery
The contributions of these two products could be deciphered from the speech of Chairman and CEO, Alex Lukianov. He said, “In the MIS market, our flagship XLIF surgical procedure and the decade plate provided solid growth, which is particularly exciting because these solutions are laying the foundation for greater utility of single position surgery.”Other than this, new solutions such as Armada, Bendini and Precept for posterior fixation is also achieving improved patient outcome and continue to grow aggressively.
It could be summarized that NuVasive, Inc. (NASDAQ:NUVA) witnessed growth both at home and outside. It outperformed in the U.S. with a special focus on lumbar and biologics, while its business remained strong in international boundaries as well.
Medical Alarm’s Agreement
Another healthcare provider, which is making rounds is Medical Alarm Concepts Holdings Inc (OTCMKTS:MDHI). The company as announced its agreement with APS healthcare recently. APS healthcare is a holding company of Universal American Corporation (NYSE). Through this agreement, Medical Alarm Concepts’ patented product MediPendant will be made available to over 1.4 million members of Cal MediConnect.
Before going into details it will be important to note that MediPendant(R) is a personal medical alarm manufactured by Medical Alarm Concepts Holdings Inc(OTCMKTS:MDHI, which is an easy, reliable and innovative way to reach out to relatives and medical personnel at the time of medical emergency. Thus, its inclusion in Cal MediConnect program will help bolster company’s sales among a broader audience. Cal MediConnect is a piliot project run by the Federal government that aims to bundle Medicare and Medicaid benefits in one plan. Also, it endeavors to coordinate and support healthy independent living. The services under the network are being governed as per the LA Care Health Plan.
Medical Alarm Concepts Holdings Inc (OTCMKTS:MDHI) mentioned in its press note that over 15,000 people are expected to get enrolled under the APS Healthcare provided Care Plan Option (CPO) Network by the month of January 2015. The cost or monitoring fee for the company’s MediPendant (R) will be covered under the plan itself, and thus, will be provided free of cost to the member. The company has recognized the value of its agreement with APS Healthcare as a brilliant opportunity. A point to highlight that the agreement comes at a time when the percentage of ageing population is growing rapidly in the United States. As per a census data, the number of people falling in the age-group of abover 65 is 4.3 million. The figure is expected double within a period of next two decades and will cross 9 million by the year 2030.
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