What changed in this filing

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Item 1. Business

2025-02-20 compared with 2024-02-21 · 87 added, 74 removed, 439 unchanged (27% of the section changed)

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Globus is an engineering-driven company with a history of rapidly developing and commercializing advanced products and procedures to address treatment challenges.

With over 10 product launches in 2023 and operations across 64 countries worldwide, we offer a comprehensive portfolio of innovative and differentiated technologies that are used to treat a variety of musculoskeletal conditions.

With 18 product launches in 2024 and operations across 66 countries worldwide, we offer a comprehensive portfolio of innovative and differentiated technologies that are used to treat a variety of musculoskeletal conditions.

Although we manage our business globally within one reportable segment, we separate our products and services into two major categories:

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(“NuVasive”) and Zebra Merger Sub Inc.

(“Merger Sub”), Merger Sub, a wholly owned subsidiary of the Company, merged with and into NuVasive, with NuVasive surviving as a wholly owned subsidiary of the Company (the “Merger”).

Under the Merger Agreement, each share of common stock, par value $0.001 per share, of NuVasive issued and outstanding immediately prior to the effective time of the Merger (other than certain excluded shares as described in the Merger Agreement) was cancelled and converted into the right to receive 0.75 fully paid and non-assessable shares of Class A common stock of Globus, $0.001 par value per share, and the right to receive cash in lieu of fractional shares.

(“Merger Sub”), Merger Sub, a wholly owned subsidiary of the Company, merged with and into NuVasive, with NuVasive surviving as a wholly owned subsidiary of the Company (the “NuVasive Merger”).

Under the Merger Agreement, each share of common stock, par value $0.001 per share, of NuVasive issued and outstanding immediately prior to the effective time of the NuVasive Merger (other than certain excluded shares as described in the Merger Agreement) was cancelled and converted into the right to receive 0.75 fully paid and non-assessable shares of Class A common stock of Globus, $0.001 par value per share, and the right to receive cash in lieu of fractional shares.

Overall Business

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We believe our team-oriented and highly integrated development approach, active surgeon input, and demonstrated performance position us to maintain a rapid rate of new product launches.

We launched 10 new products in 2023, in addition to assuming NuVasive’s portfolio of products, which include the X360 portfolio, the C360 portfolio featuring the Simplify Cervical Disc, and the P360 portfolio.

We launched 18 new products in 2024, including the ExcelsiusHub™ and the ExcelsiusFlex™ surgical navigation system.

We have a range of new products in various stages of development and expect to continue to regularly launch new products.

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sales force for Musculoskeletal Solutions.

Through the Merger with NuVasive, we have significantly grown our global sales force.

Through the NuVasive Merger, we have significantly grown our U.S.

We expect to continue to increase the number of our direct and distributor sales representatives in the U.S., to expand into new geographic territories and to deepen our penetration in existing territories.

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The procedural portfolio includes surgical access instruments, spinal implants, fixation systems, biologics, software for surgical planning, navigation and imaging solutions, magnetically adjustable implant systems for spine and orthopedics, and intraoperative neuromonitoring (“IONM”) technology and service offerings.

The Merger expanded our global commercial reach, increased operational capabilities and enhanced our comprehensive offerings of Musculoskeletal Solutions and Enabling Technologies.

The NuVasive Merger expanded our global commercial reach, increased operational capabilities and enhanced our comprehensive offerings of Musculoskeletal Solutions and Enabling Technologies.

During the first quarter of 2024, the Company completed a share acquisition of a biotechnology company focused on research and development for hemostasis solutions.

We intend to selectively pursue acquisitions and alliances that complement our strategic plan and provide innovative technologies, personnel with significant relevant experience, or increased market penetration.

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Our neuromonitoring services utilize proprietary software that employs hunting algorithms and graphical user interfaces to provide surgeons with an enhanced and intuitive nerve avoidance system.

Through our IONM platforms, we give surgeons the option to connect their instruments to a computer system that provides discrete, real-time, surgeon-directed and surgeon-controlled feedback about the directionality and relative proximity of nerves during surgery.

We believe our proprietary IONM platforms are a differentiator in the market and are unique in their ability to provide information about the directionality and proximity of nerves.

Through our IONM platforms, we give surgeons the option to connect certain instruments to a computer system that provides discrete, real-time, surgeon-directed and surgeon-controlled feedback about the directionality and relative proximity of nerves during surgery.

Our systems analyze and then translate complex neurophysiologic data into simple, useful information to assist the surgeon’s clinical decision-making process.

Surgeons can connect certain instruments to our IONM systems, thus creating an interactive set of instruments that better enable the safe navigation through the body’s nerve anatomy during surgery.

We provide onsite and remote monitoring of the neurological systems of patients undergoing spinal and brain-related surgeries.

Monitoring the health of the nervous system during spinal surgery has been a key component of our strategy of product differentiation since early in our development.

Enabling Technologies

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This highly maneuverable and intuitive imaging platform offers 3 imaging modalities, position memory, and a large field of view.

In 2024, we launched the ExcelsiusHub® and the ExcelsiusFlex® to further expand our Excelsius® ecosystem.

The ExcelsiusHub® provides real-time patient array monitoring, tissue sparing drills, and registration flexibility to elevate the safety of spine navigation.

The ExcelsiusFlex® is a total knee arthroplasty robotic solution with imageless and computed tomography-based registration workflows.

It was designed to give ergonomic control to the surgeon with enhanced feedback and visibility.

Our innovative Enabling Technologies products offer surgeons more information about patient anatomy and surgical options to help them to make well-informed preoperative and intraoperative surgical decisions.

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We offer educational and training courses globally through in-person formats and via virtual content, including virtual conferences and video and social channels, to demonstrate the benefits of our innovative products and procedures.

We believe that our significant competitors are Medtronic, DePuy Synthes, Stryker, Zimmer Biomet, and Smith and Nephew.

We believe that our significant competitors are Medtronic, DePuy Synthes, Stryker, Zimmer Biomet, and Smith + Nephew.

Alphatec Holdings, Orthofix, Integra LifeSciences , ZimVie and other smaller public and private companies are also competitors of ours.

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Our implant products are manufactured in our facilities in Eagleville, Pennsylvania, Limerick, Pennsylvania and West Carrollton, Ohio.

Most of our regenerative biologic products

are processed in our facilities in San Antonio, Texas, and in Audubon, Pennsylvania.

The ExcelsiusGPS ® robotic guidance and navigation system and Excelsius3D™ imaging system are assembled in our facility in Methuen, Massachusetts.

Most of our regenerative biologic products are processed in our facilities in San Antonio, Texas, and in Audubon, Pennsylvania.

The Excelsius ® robotic systems are assembled in our facility in Methuen, Massachusetts.

Of our implant and instrument products that are not manufactured in-house, a majority are generally manufactured through a network of third-party suppliers.

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Our outsourcing strategy is targeted at companies that meet U.S.

Food and Drug Administration (“FDA”), ISO, and quality standards supported by internal policies and procedures.

Food and Drug Administration (the “FDA”), ISO, and quality standards supported by internal policies and procedures.

We currently rely on several tissue banks as suppliers of allograft tissue implants, including for our Osteocel Plus and Osteocel Pro product lines.

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This hybrid strategy is designed to improve customer service, minimize backlogs, increase asset turns, optimize freight costs, and maximize cash flow.

Our pool of surgical equipment we make available to hospitals continues to increase as we increase our product offering, expand our distribution

channels and increase the market penetration of our products.

Our pool of surgical equipment we make available to hospitals continues to increase as we increase our product offering, expand our distribution channels and increase the market penetration of our products.

These surgical instrumentation and implant sets are important to the growth of our business, and we anticipate additional investments in such assets going forward.

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36 design patents) and had applications pending for 822 U.S.

patents (866 utility patents;

1 design patents), and we owned 1,744 issued foreign patents and had applications pending for 502 foreign patents.

Our issued patents expired or will expire between March 2015 and November 2043.

patents (all utility patents), and we owned 1,854 issued foreign patents and had applications pending for 464 foreign patents.

Our issued patents expired or will expire between March 2015 and December 2044.

Our trademark portfolio contains 746 registered trademarks and 194 pending trademarks.

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Physicians, hospital outpatient departments, and ambulatory surgery centers use Current Procedural Terminology (“CPT ® ”) codes to bill for services and procedures which are established by the American Medical Association (“AMA”).

Specialty societies such as the North American Spine Society (“NASS”), the American Association of Neurological Surgeons, and the American Academy of Orthopedic Surgeons provide advice to the AMA CPT ® Editorial Panel for developing codes.

Specialty societies such as the North American Spine Society, the American Association of Neurological Surgeons, and the American Academy of Orthopedic Surgeons provide advice to the AMA CPT ® Editorial Panel for developing codes.

The availability of existing codes to bill for services and procedures may impact the adoption of technology.

The CPT codes, depending on the situation and payor rules, are sometimes billed with billing modifiers that can affect coverage and reimbursement.

The Centers for Medicare and Medicaid Services (“CMS”) and the National Center for Health Statistics are jointly responsible for overseeing changes and modifications to International Classification of Diseases, Clinical Modification/Procedure Coding System (“ICD-10-CM/PCS”) procedure codes used by all providers including physicians and facilities for reporting patient diagnosis(es) (“ICD-10-CM codes”) and hospitals for reporting inpatient procedures (“ICD-10-PCS codes”).

The granularity and specificity of the ICD-10-CM/PCS coding system may impact reimbursement in the future, particularly hospital inpatient reimbursement.

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As the portion of the U.S.

population over the age of 65 and eligible for Medicare continues to grow, we may be more vulnerable to coverage

and reimbursement limitations imposed by CMS.

population over the age of 65 and eligible for Medicare continues to grow, we may be more vulnerable to coverage and reimbursement limitations imposed by CMS.

National and local coverage policy decisions are subject to unforeseeable change and have the potential to impact physician behavior.

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However, certain third-party payors, large and small, may have policies significantly limiting coverage of, products or services that we offer.

We will continue to provide resources to patients, surgeons, hospitals, and insurers in order to ensure optimum patient care and clarity regarding reimbursement and work to remove any and all non-coverage policies.

National and regional coverage policy decisions are subject to unforeseeable change and have the potential to impact physician behavior and reimbursement for physician services.

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We believe that we have structured our business operations and relationships with our customers to comply with all applicable legal requirements.

However, it is possible that governmental entities or other third parties, including Relators (whistleblowers) who can file complaints on behalf of the government and on their own behalf under the federal False Claims Act (“FCA”), could interpret these laws and our efforts to comply with them differently and assert otherwise.

However, it is possible that governmental entities or other third parties, including Relators (whistleblowers) who can file complaints on behalf of the government and on their own behalf under the federal civil False Claims Act (“FCA”), could interpret these laws and our efforts to comply with them differently and assert otherwise.

We discuss below the statutes and regulations that are most relevant to our business.

There may be future changes in legal and regulatory requirements that may materially impact our results of operations.

Future changes in legal and regulatory requirements may introduce new risks into our operations and future prospects, which we are not able to currently anticipate.

For example, changes taking place in the U.S.

associated with a new federal administration, as well as changes in legal standards, including the reduced level of deference due to administrative agencies, such as the FDA, following a 2024 Supreme Court decision, may introduce uncertainties with respect to our current and future operations and our future likelihood of success.

It is possible that new federal or state laws or regulations may be passed, or laws and regulations may be enforced differently than they were before, which may expose us to additional legal and regulatory risk or uncertainty and require the expenditure of additional resources to ensure that we are able to comply.

Such actions could also adversely restrict our business and operations.

There could also be changes in the federal workforce and agency policies that may result in regulatory delays, including with respect to the FDA’s review of medical device marketing applications and other submissions, and that may impact the ability to communicate with and obtain guidance from the agencies.

At this time, it is too early to predict the exact nature of any changes that may take place or whether and how they may impact our business and results of operations.

Food and Drug Administration Regulation

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These inspections may include our manufacturing, suppliers’ and sub-contractors’ facilities.

On October 31, 2018, we received a warning letter from the FDA resulting from an inspection of the facilities of our subsidiary Human Biologics of Texas, located in San Antonio, Texas, in April 2018.

The letter described observed non-conformities to regulations for human cells, tissues, and cellular and tissue-based products relating to one allograft tissue product processed by Human Biologics of Texas and sold to end users.

We took the matters identified in the warning letter seriously and worked diligently to address the FDA’s observations.

We responded to the FDA’s warning letter on November 20, 2018, provided periodic updates to the FDA on our progress, and notified the FDA of actions completed to resolve the observations.

As of December 31, 2023, this warning letter has been resolved.

On July 16, 2024, Globus Medical, Inc.

received a warning letter from the FDA following an inspection of our facilities in Audubon, Pennsylvania.

In the warning letter, the FDA cited deficiencies in the response letters sent by the Company to the FDA following the Form 483, List of Investigational Observations, which was delivered to the Company in connection with the inspection that occurred from February 15, 2024, until March 7, 2024.

The letter describes observed non-conformities in establishing and maintaining product complaint procedures, including complaint investigations, risk reconciliation, and Medical Device Report procedures including timely reporting, pertaining to the ExcelsiusGPS ® robotic system.

The letter did not identify any safety concerns with the use of the ExcelsiusGPS ® robotic system, nor did it raise any issue with the manufacturing process.

We responded to the FDA’s warning letter on August 2, 2024, provided periodic updates to the FDA on our progress, and notified the FDA of actions completed to resolve the observations.

As of February 20, 2025, this warning letter remains open.

State-Level Requirements

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The EU has also adopted the EU Medical Device Regulation 2017/745 (“MDR”), which replaced existing directives and imposes stricter requirements for the marketing and sale of medical devices, including new clinical evaluation, quality system, and post-market surveillance requirements.

Following the expiration of the transitional provisions of the MDD relating to the CE mark (extended to December 2027), all medical device companies intending to manufacture and/or market products in the EEA after May 2024, including Globus Medical, NuVasive and NuVasive Specialized Orthopedics), will be required to comply with requirements of the MDR EU 2017/745, which increased technical documentation requirements, imparted more labeling obligations of higher risk devices, and altered the classification of some of our products.

Most devices that are CE-marked under the MDD may continue to be marketed in the EU under certain conditions until December 2027 for Class III and IIb devices;

2028 for Class II and class I devices which require involvement of a Notified Body in the conformity assessment, at which time these products must comply with the new regulation.

Following the expiration of the transitional provisions of the MDD relating to the CE mark (extended to December 2027 or December 2028 depending on product classification), all medical device companies intending to manufacture and/or market products in the EEA after May 2024, including Globus Medical, NuVasive and NuVasive Specialized Orthopedics), will be required to comply with requirements of the MDR, which increased technical documentation requirements, imparted more labeling obligations of higher risk devices, and altered the classification of some of our products.

Most devices that are CE-marked under the MDD may continue to be marketed in the EU under certain conditions until December 2027 for Class III and IIb implantable devices;

2028 for other Class IIb, IIa and Class I devices which require involvement of a Notified Body in the conformity assessment, at which time these products must comply with the MDR.

MDD compliant products intended to be placed on the market after May 2024 must meet certain conditions and be under contract with an MDR accredited Notified Body and in compliance with Transitional Provisions.

Additionally, in the EEA the procurement, testing, processing, preservation, storage and distribution of human tissues and cells is subject to the requirements of the laws of individual EEA Member States implementing Directive 2004/23/EC, Directive 2006/17/EC and Directive 2006/86/EC.

Further, the advertising and promotion of our products in the EEA is subject to limited provisions under Regulation 2017/745 and the laws of individual EEA Member States implementing Directive 2006/114/EC concerning misleading and comparative advertising, and Directive 2005/29/EC on unfair commercial practices, as well as other EEA Member State laws and industry codes governing the advertising and promotion of medical devices.

Further, the advertising and promotion of our products in the EEA is subject to limited provisions under MDR and the laws of individual EEA Member States implementing Directive 2006/114/EC concerning misleading and comparative advertising, and Directive 2005/29/EC on unfair commercial practices, as well as other EEA Member State laws and industry codes governing the advertising and promotion of medical devices.

These laws and codes may limit or restrict the advertising and promotion of our products to the general public and may impose limitations on our promotional activities with healthcare professionals.

In addition to the presiding MDD (93/42/EEC;

MDD) and MDR (2017/745;

MDR) outlined above, we must also comply with EU / EEA laws, directives, regulations and recognized standards as applicable to the devices we produce.

In addition to the presiding MDD and MDR outlined above, we must also comply with EU / EEA laws, directives, regulations and recognized standards as applicable to the devices we produce.

These requirements can include all facets of healthcare, including environmental compliance, product stewardship, technical considerations, material of manufacture, and labeling availability.

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UK-approved Notified Bodies designated by the MHRA will conduct conformity assessments against applicable requirements of the UKCA mark.

Obtaining the UKCA conformity mark is optional from January 2021 and will have rolling requirements for MDD/MDR certified devices through 2027.

Although CE conformity marking and certificates issued by Notified Bodies will continue to be recognized in the UK through 2027, all medical devices were required to be registered with the MHRA as of January 1, 2021 in accordance with the provided grace period depending on the product risk classification.

This grace period has been extended, and the UK Parliament intends to bring forward an additional statutory instrument to legislate for further measures in Spring 2024.

Obtaining the UKCA conformity mark is optional from January 2021 and will have rolling requirements for MDD/MDR certified devices until June 30, 2030.

Although CE conformity marking and certificates issued by Notified Bodies will continue to be recognized in the UK until June 30, 2028 for medical devices that have undergone the conformity procedure under the EU MDD and until June 30, 2030 for medical devices that have undergone the conformity procedure under the EU MDR, all medical devices are required to be registered with the MHRA as of January 1, 2021 in accordance with the provided grace period depending on the product risk classification.

Additionally, for manufacturers based outside of the UK, a single UK Responsible Person with a place of business in the UK must be established.

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These changes have, in part, stipulated that, in addition to obtaining a manufacturing or import approval from the Ministry of Health, Labor and Welfare, certain low-risk medical devices can now be evaluated by third-party organizations.

Based on the risk-based classification, manufacturers are provided three

procedures for satisfying the PMD Act requirements prior to placing products on the market:

Based on the risk-based classification, manufacturers are provided three procedures for satisfying the PMD Act requirements prior to placing products on the market:

Premarket Submission, Premarket Certification, and Premarket Approval.

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or knowingly avoiding, decreasing or concealing an obligation to pay money to the federal government.

Violations of the federal Anti-Kickback Statute and off-label promotion have been pursued by the Department of Justice (“DOJ”) and the Department of Health and Human Services (“HHS”) as violations of the federal civil False Claims Act (“FCA”).

Violations of the federal Anti-Kickback Statute and off-label promotion have been pursued by the Department of Justice (the “DOJ”) and the Department of Health and Human Services (“HHS”) as violations of the FCA.

Intent to deceive is not required to establish liability under the civil False Claims Act.

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Additionally, the majority of states in which we market our products have similar anti-kickback, false claims, anti-fee splitting and physician self-referral laws, which may apply to items or services reimbursed by any third-party payor, including commercial insurers, and violations may result in substantial civil and criminal sanctions.

Other federal statutes pertaining to healthcare fraud and abuse include the civil monetary penalties statute, which prohibits, among other things, the offer or payment of remuneration to a Medicaid or Medicare beneficiary that the offeror or payor knows or should know is likely to influence the beneficiary to order a receive a reimbursable item or service from a particular supplier, and the additional federal criminal statutes created by the Health Insurance Portability and Accountability Act of 1996, as amended (“HIPAA”), which prohibits, among other things, knowingly and willfully executing or attempting to execute a scheme to defraud any healthcare benefit program or obtain by means of false or fraudulent pretenses, representations or promises any money or property owned by or under the control of any healthcare benefit program in connection with the delivery of or payment for healthcare benefits, items or services.

Other federal statutes pertaining to healthcare fraud and abuse include the civil monetary penalties statute, which prohibits, among other things, the offer or payment of remuneration to a Medicaid or Medicare beneficiary that the offeror or payor knows or should know is likely to influence the beneficiary to order or receive a reimbursable item or service from a particular supplier, and the additional federal criminal statutes created by the Health Insurance Portability and Accountability Act of 1996, as amended (“HIPAA”), which prohibits, among other things, knowingly and willfully executing or attempting to execute a scheme to defraud any healthcare benefit program or obtain by means of false or fraudulent pretenses, representations or promises any money or property owned by or under the control of any healthcare benefit program in connection with the delivery of or payment for healthcare benefits, items or services.

Also under HIPAA, a Covered Entity is required to adhere to certain requirements regarding the use, disclosure and security of protected health information (“PHI”).

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The Physician Payments Sunshine Act of 2009 (the "Sunshine Act”) was enacted into law in 2010 and requires public disclosure to the U.S.

government of certain payments and other transfers of value to U.S.-licensed physicians, physician assistants, nurse practitioners, clinical nurse specialists, certified registered nurse anesthetists and anesthesiologist assistants, nurse midwives, and teaching hospitals, including in-kind transfers of value such as educational items or meals.

teaching hospitals, including in-kind transfers of value such as educational items or meals.

Ownership and investment interests by physicians and their immediate family members also must be reported.

The Sunshine Act also provides penalties for non-compliance.

The Sunshine Act requires that we file an annual report on March 31 of a calendar year for the transfers of value incurred for the prior calendar year.

The Sunshine Act requires that we file an annual report on March 31 of a calendar year for the payments and other transfers of value incurred for the prior calendar year.

This law, along with various international and individual state reporting, compliance program, gift ban and marketing program requirements, such as in Massachusetts and Vermont, increases the possibility that a healthcare company may run afoul of one or more of the requirements.

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Workforce Overview

We believe our employees are our most valuable asset and are critical to our success as an organization.

Our talent-related initiatives, including employee recruitment and development, compensation and benefit programs, are focused on building and retaining the world-class and talented staff that is needed to meet our goals.

As of December 31, 2023, we had over 5,000 employees worldwide , including sales and marketing, product development, general administrative and accounting, both domestically and internationally.

Our employees are not subject to a collective bargaining agreement except in a single market outside the U.S., and we consider our relationship with our employees to be good.

We believe our employees are our most valuable asset and the cornerstone of our success as an organization.

Our talent-related initiatives, including recruitment, development, compensation and benefits, are designed to build and retain a world-class team capable of driving innovation and achieving our strategic goals.

As of December 31, 2024, we had over 5,300 employees worldwide, including sales and marketing, product development, operations, general administrative and accounting, both domestically and internationally.

Except for one market outside the U.S.

where employees are subject to a collective bargaining agreement, our workforce is not unionized.

We value our positive relationship with employees and strive to maintain a collaborative and supportive environment.

Compensation and Benefits

We offer competitive benefit packages, supporting our employees as they help create a leading, global musculoskeletal technology company.

This includes encouraging a culture of health by providing benefits programs to best serve our employees and their family members.

Our comprehensive benefits package may include competitive pay, annual incentive awards and bonus opportunities, health and wellness programs, healthcare and retirement benefits, and paid time off and sick leave.

We are committed to providing competitive compensation and benefits to support our employees as they contribute to our mission of becoming the global leader in musculoskeletal technology.

Our comprehensive benefits package includes:

 Competitive pay and annual incentive awards

 Bonus opportunities tied to individual and Company performance

 Comprehensive health and wellness programs

 Retirement benefits

 Paid time off and sick leave

These offerings are tailored to promote a culture of health, well-being, and work-life balance for employees and their families.

Talent Development

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In addition, we strive to support our teams in the areas of professional development, mentoring, engagement, and health and wellness, enabling them to do their best work as they grow their careers.

Employees are encouraged to partner with their manager to create individual plans to guide their development path and to incorporate training offerings and resources to support their growth and drive their continued success.

Additionally, we regularly conduct talent reviews and succession planning to identify and develop our current and future leaders.

We are committed to identifying and developing talent to help those employees accelerate their growth and achieve their career goals .

To support long-term growth, we encourage employees to partner with their managers to create Individual Development Plans tailored to their career aspirations.

In 2024, we launched two training platforms designed to enhance skills for individual contributors and to develop current and emerging leaders.

These programs reinforce our commitment to talent development and to providing opportunities for employees to achieve their career goals.

Employee Engagement and Communication

Our success depends on our employees understanding our strategy as well as our annual goals and priorities.

This is accomplished through a number of channels, including a global intranet and sales enablement platform, regional and functional meetings, and quarterly updates in global Town Halls with leadership.

This is accomplished through a number of channels, including a global intranet and sales enablement platform, regional and functional meetings, and quarterly

updates in global Town Halls with leadership.

We value open and direct communication with our employees about their experiences.

We use a variety of channels to obtain employee feedback, including employee surveys, open forums with leadership, and an employee resource group.

Our annual employee engagement survey provides us with actionable data for the overall company and each department and also provides managers with upward feedback on how they are progressing against expectations.

We use a variety of channels to obtain employee feedback, including open forums with leadership, and an employee resource group.

Each year, the input received through these mechanisms is used to help strengthen our culture and improve employee engagement.

Diversity and Inclusion

We recognize the value associated with fostering a work environment that is culturally diverse an d inclusive and believe that diverse teams stimulate innovation, enhance our understanding of the needs of our customers, and ultimately deliver better results for our stakeholders .

As of December 31, 2023, our Board of Directors consisted of eleven members, two of whom identified as female and two of whom identified as having a racial and ethnic background other than white.

We recognize the value associated with fostering a work environment that is diverse and inclusive and believe that diverse teams stimulate innovation, enhance our understanding of the needs of our customers, and ultimately deliver better results for our stakeholders.

Our goal is to cultivate a respectful and professional environment where all voices are heard and valued.

Our HR and talent teams create professional development opportunities for employees of all genders, ethnicities and minority groups, backgrounds, experience levels, and locations.

As we seek to create a more diverse and inclusive workforce, we monitor voluntarily disclosed diversity data to review hiring, promotion and attrition overall at the Company and at the department level.

We also review performance data and promotion and compensation information to ensure fair and objective decision-making.

We believe that building diverse teams and leveraging broad perspectives will empower our employees and strengthen our ability to meet the needs of our customers, patients, and communities we serve.

Our HR and talent teams actively support professional development opportunities for employees across all demographics.

We monitor voluntarily disclosed diversity data to track progress in hiring, promotion, and attrition and ensure fairness in performance evaluations, promotions, and compensation.

By building diverse teams and leveraging broad perspectives, we strengthen our ability to meet the needs of our customers, patients, and communities.

Health, Safety, and Wellness

We are committed to the protection of our employees, customers, communities and the environment.

Our key areas of focus include corporate compliance with responsible hazardous waste management, recycling, emergency preparedness, as well as various initiatives to improve our health and safety programs with the goal of reducing and ultimately eliminating serious injuries.

Our Environmental, Health & Safety personnel develop global safety practices and procedures, train employees, host annual safety campaigns, and monitor compliance with safety procedures.

We are committed to safeguarding the health, safety, and well-being of our employees, customers, and communities.

Our Environmental, Health & Safety team spearheads global initiatives to:

 Develop safety practices and procedures

 Conduct training programs and annual safety campaigns

 Monitor compliance to reduce and ultimately eliminate serious injuries

Our programs also emphasize corporate compliance, recycling, hazardous waste management, and emergency preparedness.

Our employees and sales representatives have a long history of providing support and care to our communities, donating time, resources and funds to local causes.

Since 2009, we have leveraged our expertise in spine care to give back to local and global communities through Globus Cares and NuVasive Spine Foundation, both 501(c)(3) nonprofit organizations.

These organizations support life-changing spine surgery for individuals around the world with limited access to high quality medical treatment by working with surgeons to advance the quality of spine care in disadvantaged communities.

In addition, through our grants program, we support

medical research and education, charitable and philanthropic endeavors.

We believe in giving back, and we also believe it is important to operate our company in a socially responsible manner.

Since 2009, we have leveraged our expertise in spine care to give back to local and global communities through Globus Cares, our 501(c)(3) nonprofit organization.

This organization supports life-changing spine surgery for individuals around the world with limited access to high quality medical treatment by working with surgeons to advance the quality of spine care in disadvantaged communities.

In addition, through our grants program, we support medical research and education, charitable and philanthropic endeavors.

Our employee resource group, Globus Women’s Network, contributes to charitable causes, including shelters, food banks, and breast cancer research.

We are proud to operate responsibly and prioritize community engagement as part of our broader mission.

We were incorporated in Delaware in March 2003.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business