Specialist
Former SVP at Globus Medical Inc
Agenda
- Trends and developments in the musculoskeletal medical device industries, focusing on Globus Medical (NYSE: GMED)
- Globus' product and musculoskeletal pipeline overview – ExcelsiusGPS analysis, spinal and trauma offerings
- Competitive dynamics vs Medtronic (NYSE: MDT), Zimmer Biomet (NYSE: ZBH) and Nuvasive (NASDAQ: NUVA)
- Market opportunity and growth outlook for joint and trauma segments
Questions
1.
What are the major trends and developments you’ve been following in the spinal and musculoskeletal device market over the past year or so?
2.
Do you have any further commentary on the procedural shift from inpatient to outpatient, particularly joint and spinal volumes? What portion of total spinal procedures could transition to ambulatory settings over the next 3-5 years?
3.
What’s been Globus’s strategy to adapt to outpatient settings? How do you assess its penetration prospects in the ambulatory demographic?
4.
How are tech developments such as AI and robot-assisted surgeries disrupting the musculoskeletal and spinal surgical markets? What potential do these technologies have to improve product capabilities and enhance patient outcomes?
5.
How much of an innovation moat does Globus enjoy with its ExcelsiusGPS robotic navigation platform? What benefits does this product lend clinicians in the operating room?
6.
Globus recently launched the Excelsius3D intelligent intraoperative three-in-one imaging system, which gained FDA approval in August 2021. How are you assessing its go-to-market efforts for the Excelsius3D and ability to gain traction in imaging?
7.
How are you considering the shift to cervical disc replacement from spinal fusion? How much of total procedural volumes could be cervical disc replacement vs fusion over the next few years?
8.
Are all stakeholders – surgeons, patients and payers – on the same page, or is education still needed to accelerate cervical disc replacement uptake?
9.
Globus has invested significantly in its musculoskeletal sales team, especially the trauma segment. How do you compare the company’s sales force and commercialisation efforts against the broader market?
10.
How much could adding the cranial module to the ExcelsiusGPS boost robotic utilisation? Could you quantify any commercial uptick from customers ordering more robots?
11.
How is Globus positioning itself for sustained growth longer term? Do you think robotics is just the tip of the iceberg for the company’s holistic growth opportunity?
12.
How is Globus approaching optimising its product suite, combined sales team and R&D efforts to put it on a long-term growth trajectory? What might an optimal strategy be, given the fundamentals you mentioned?
13.
What are some key points of differentiation among leading products such as Globus’s ExcelsiusGPS, Zimmer’s Rosa, Nuvasive’s Pulse and Medtronic’s Mazor offerings? How do they compare in relative product capabilities, pricing and market share?
14.
How do the aforementioned products’ compare in ease of use and surgeon preference? Do you think any players have a significant advantage in usability or surgeon education?
15.
Who will have the best robotics platform for spine in three years and why?
16.
Spine has niche areas with dominant players in different sub-segments. Why has it been so hard for spinal companies to tackle a non-core segment? How much could robotics change these barriers?
17.
How much could consolidation accelerate within the top five spinal players over the next year or so? Is acquisition rationale more about synergies and combining product assets, or just buying a client book and sales reps?
18.
What are your thoughts on Globus’s November 2021 acquisition of Capstone for USD 50m? How much could Capstone’s novel oscillating drill incorporate efficient tissue removal capability into Globus’s robotic platforms?
19.
Is there anything else we haven’t discussed that might be important to highlight around Globus?
