The history of Globus is exciting if we take into account that in 20 years it has positioned itself as the leader in such a competitive and complicated market as Spine. Without a doubt, this success story is that of David Paul, a visionary and entrepreneurial genius.
- In 2003 David Paul founded Globus Medical Inc. He was born in India, coming later to the United States of America, acquiring an engineering master’s degree at Temple University in 1994. He went on to work for Synthes, a Swiss medical device maker owned by billionaire Hansjoerg Wyss, before quitting in 2003 to found Globus.
- In 2004, Synthes filed a suit accusing Paul, another early Globus employee, and Globus of stealing 2300 electronic files containing blueprints for Synthes products, safety-testing plans, and verbatim 510(k) filing documents.
- In August 2007, those suits were settled by Globus paying Synthes $13.5 million while not admitting wrongdoing.
- In 2011, Synthes filed another lawsuit, its second, against Globus Medical for infringing three patents and asking the court to force the defendant to destroy its allegedly infringing products.
- In 2013, a $16 million monetary damage was paid by Globus Medical. That didn’t end their fight: Back-and-forth litigation between the two competitors over patents and accusations of employee poaching has continued for the past 14 years, even after Synthes was acquired by Johnson & Johnson in 2012.
- In January 2014, Globus Medical acquired Excelsius Surgical. The Excelsius GPS Robotis integrates intra-operative digital imaging with a robotic surgery device to hold patients in place during surgeries with sub-millimeter accuracy.
- In October 2014, Globus Medical acquired allograft tissue processor Transplant Technologies of Texas, Ltd. (TTOT). TTOT provides human tissue products such as bone allografts, biomaterials, and soft tissue products for spine, orthopedics, sports medicine, dental, and wound care markets.
- In February 2015, Globus Medical acquired Branch Medical Group, a third-party manufacturer of high-precision medical devices.
- In July 2016, Globus Medical acquired Alphatec Holdings, an international operations and distribution channel, for $80 million. As part of the transaction, Globus has agreed to provide Alphatec a five-year senior secured credit facility of up to $30 million.
- In September 2018, Globus Medical acquired Nemaris, developers of Surgimap, a pre-operative planning software for spinal surgeons.
- In August 2019, Globus Medical acquired privately-owned StelKast, a manufacturer of implants and instruments for hip and knee replacement.
- January 2023: Globus is a global medical technology company focused on developing, manufacturing, selling, and providing procedural solutions for spine surgery, with a guiding purpose to transform surgery, advance care, and change lives. Globus offers a comprehensive portfolio of procedurally integrated spine surgery solutions, including surgical access instruments, spinal implants, fixation systems, biologics, and enabling technologies, as well as systems and services for intraoperative neuromonitoring. In addition, they develop and sell magnetically adjustable implant systems for spine and specialized orthopedic procedures. For the year ended December 31, 2022, we estimate generated net sales of more tha $1 billion, including sales in more than 50 countries.
- In February 2023, Globus announced the acquisition of NuVasive Inc in an all-stock deal valued at about $3 billion to build scale in the competitive market for spinal devices.