Globus Medical CEO Dan Scavilla said he sees upward growth for the company's enabling technologies, including the Excelsius GPS and Excelsius 3D spine robots, according to an Aug. 6 earnings call.
Enabling technology sales grew 6% year over year, Mr. Scavilla said. The second quarter of 2024 was also a record for robot unit placements with 59% year-over-year growth, and robotic case volume has grown 26% year over year.
Globus Medical is also accelerating its rental program and is well-positioned to continue robotic growth through the remainder of the year, Mr. Scavilla said.
"Unlike a unit sale, we recognized revenue over the rental contract life," he said, as transcribed by Motley Fool. "We are adding NuVasive products such as Reline and Modulus to our enabling tech platform to expand customer options and plan on offering this later this year. Exiting Q2, our robot pipeline is healthy, and we are poised to have a great second-half robotic performance. We also continue to penetrate the market with Excelsius 3D imaging systems, and market interest remains high for Excelsius 3D as we enter Q3."