10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q/A

(Amendment No.1)

xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2012

Or

¨TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______________ to _______________

Commission File No. 001-35621

GLOBUS MEDICAL, INC.

(Exact name of registrant as specified in its charter)

DELAWARE	04-3744954
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
2560 General Armistead Avenue, Audubon, PA 19403	(610) 930-1800
(Address of principal executive offices) (Zip Code)	(Registrant’s telephone number, including Area Code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days:

Yes ¨  No x

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files):

Yes x  No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act):

Large Accelerated Filer   ¨	Accelerated Filer   ¨
Non-accelerated Filer  x (Do not check if a smaller reporting company)	Smaller Reporting Company  ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act):

 Yes ¨  No x

The number of shares outstanding of the issuer’s Common Stock (par value $0.001 per share) as of August 8, 2012 was 90,461,035 shares.

Explanatory Notes

We are filing this Amendment No.1 on Form 10-Q/A (this “Amendment”) to our Quarterly Report on Form 10-Q for the period ended June 30, 2012, which Form 10-Q was originally filed on August 21, 2012 (the “Original Filing”). We are furnishing the information presented in Exhibit 101 to the Form 10-Q, which provides the consolidated financial statements and related notes from the Form 10-Q formatted in XBRL(eXtensible Business Reporting Language), in accordance with Rule 405 of Regulation S-T. Additionally, we are re-filing exhibit 3.3 to correct a typographical error.

No other changes have been made to the Form 10-Q. This Amendment speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date and does not modify or update in any way disclosures made in the Original Filing.

Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

Item 6. Exhibits

The following is a list of exhibits filed as part of this Amendment No. 1 on Form 10-Q/A.  Where so indicated, exhibits that were previously filed are incorporated by reference.  For exhibits incorporated by reference, the location of the exhibit in the previous filing is indicated in parentheses.

Exhibit No.	Item
3.1	Certificate of Amendment of the Amended and Restated Certificate of Incorporation, dated August 20, 2012 (correcting Exhibit 3.3 of the Form 10-Q filed on August 21, 2012).
31.1*	Certification by Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2*	Certification by Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32*	Certifications pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS**	XBRL Instance Document
101.SCH**	XBRL Taxonomy Extension Schema Document
101.CAL**	XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB**	XBRL Taxonomy Extension Label Linkbase Document
101.PRE**	XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF**	XBRL Taxonomy Extension Definition Linkbase Document
_________
*	Previously filed with our Quarterly Report on Form 10-Q for the quarter ended June 30, 2012 (filed on August 21, 2012).
**	Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		GLOBUS MEDICAL, INC.
		(Registrant)
Dated:	September 19, 2012	/s/ DAVID C. PAUL
		David C. Paul
		Chairman
		Chief Executive Officer
Dated:	September 19, 2012	/s/ RICHARD A. BARON
		Richard A. Baron
		Senior Vice President
		Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Item
3.1	Certificate of Amendment of the Amended and Restated Certificate of Incorporation, dated August 20, 2012 (correcting Exhibit 3.3 of the Form 10-Q filed on August 21, 2012).
31.1*	Certification by Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2*	Certification by Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32*	Certifications pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS**	XBRL Instance Document
101.SCH**	XBRL Taxonomy Extension Schema Document
101.CAL**	XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB**	XBRL Taxonomy Extension Label Linkbase Document
101.PRE**	XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF**	XBRL Taxonomy Extension Definition Linkbase Document
_________
*	Previously filed with our Quarterly Report on Form 10-Q for the quarter ended June 30, 2012 (filed on August 21, 2012).
**	Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

EX-3.1

EXHIBIT 3.1

CERTIFICATE OF AMENDMENT

OF THE

AMENDED AND RESTATED CERTIFICATE OF INCORPORATION

OF

GLOBUS MEDICAL, INC.

Anthony L. Williams hereby certifies that:

ONE:The original name of this company is Globus Medical, Inc. and the date of filing the original Certificate of Incorporation of this company with the Secretary of State of the State of Delaware was March 3, 2003. The Board of Directors of the company has duly adopted a resolution pursuant to Section 242 of the General Corporation Law of the State of Delaware setting forth a proposed amendment to the Certificate of Incorporation of the company and declaring said amendment to be advisable. The requisite stockholders of the company have duly approved said proposed amendment in accordance with Sections 228 and 242 of the General Corporation Law of the State of Delaware. The proposed amendment has been duly adopted in accordance with Section 242 of the General Corporation Law of the State of Delaware.

TWO:He is the duly elected and acting Vice President, Corporate Counsel and Secretary of Globus Medical, Inc., a Delaware corporation.

THREE:The Amended and Restated Certificate of Incorporation of this company filed with the Secretary of State of the State of Delaware on June 21, 2012, is hereby amended as follows:

1. Section F.5(f) of Article IV, “Adjustment for Conversion Upon a Significant Event,” of the Corporation’s Amended and Restated Certificate of Incorporation is hereby deleted and replaced in its entirety as follows:

“(f)Intentionally omitted.”

IN WITNESS WHEREOF, Globus Medical, Inc. has caused this Certificate of Amendment of Amended and Restated Certificate of Incorporation to be signed by its Vice President, Corporate Counsel and Secretary this, on this the 7^th day of August 2012.

GLOBUS MEDICAL, INC.

By: /s/ ANTHONY L. WILLIAMS

Anthony L. Williams,

Vice President, Corporate Counsel and Secretary

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EQUITY (Schedule of Issued and Outstanding Shares) (Details)	Jun. 30, 2012	Dec. 31, 2011
Class of Stock [Line Items]
Common stock, shares outstanding	72,780,402	72,528,569
Common stock, shares issued	72,780,402	72,528,569
Class A Common [Member]
Class of Stock [Line Items]
Common stock, shares outstanding	8,231,796	7,452,748
Common stock, shares issued	8,231,796	7,452,748
Class B Common [Member]
Class of Stock [Line Items]
Common stock, shares outstanding	64,475,052	65,017,414
Common stock, shares issued	64,475,052	65,017,414
Class C Common [Member]
Class of Stock [Line Items]
Common stock, shares outstanding	73,554	58,407
Common stock, shares issued	73,554	58,407

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SEGMENT AND GEOGRAPHIC INFORMATION (Geographic Location) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenues from External Customers [Line Items]
Total sales	$ 95,977	$ 80,936	$ 190,694	$ 159,215
United States [Member]
Revenues from External Customers [Line Items]
Total sales	88,579	75,581	176,570	150,581
International [Member]
Revenues from External Customers [Line Items]
Total sales	$ 7,398	$ 5,355	$ 14,124	$ 8,634

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COMMITMENTS AND CONTINGENCIES (Details) (USD $) In Millions, unless otherwise specified	1 Months Ended		0 Months Ended	1 Months Ended
	Feb. 29, 2012 NUBONE [Member]	Dec. 31, 2011 NUBONE [Member]	Jul. 16, 2009 PIVOT Systems [Member]	Jun. 30, 2011 PIVOT Systems [Member]	Dec. 31, 2010 PIVOT Systems [Member]
Loss Contingencies [Line Items]
Damages awarded			$ 2.8
Loss contingency accrual		1.0			3.0
Settlement agreement payment	$ 1.0			$ 3.0

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BUSINESS ACQUISTIONS (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Acquired Intangible Assets [Line Items]
Accumulated amortization	$ (265)	$ (70)
Intangible assets, gross	7,503	7,503
Intangible assets, net	7,238	7,433
Customer Relationships [Member]
Acquired Intangible Assets [Line Items]
Weighted average amortization period	10 years	10 years
Gross carrying amount	3,291	3,291
Accumulated amortization	(220)	(33)
Finite-lived intangible assets, net	3,071	3,258
Noncompete Agreements [Member]
Acquired Intangible Assets [Line Items]
Weighted average amortization period	4 years	4 years
Gross carrying amount	112	112
Accumulated amortization	(45)	(37)
Finite-lived intangible assets, net	67	75
In-process Research and Development [Member]
Acquired Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 4,100	$ 4,100

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EQUITY (Tables)

6 Months Ended

Jun. 30, 2012

Option Indexed to Issuer's Equity [Line Items]

Schedule of Issued and Outstanding Shares by Class

Our issued and outstanding shares by Class were as follows:

(Shares)	Class A Common	Class B  Common	Class C Common	Total
December 31, 2011	7,452,748	65,017,414	58,407	72,528,569
June 30, 2012	8,231,796	64,475,052	73,554	72,780,402

Put Option [Member]

Option Indexed to Issuer's Equity [Line Items]

Schedule of Options Indexed to Issuer's Equity

We had the following amounts recorded related to the put option in business acquisition liabilities on our balance sheet:

(In thousands, except share amounts)	June 30, 2012		December 31, 2011
Shares of common stock subject to the Put Agreement	2,092,811		2,092,811
Value of the put option	$	217	$	455

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SUBSEQUENT EVENTS (Details) (Subsequent Event [Member], USD $) In Millions, except Share data, unless otherwise specified	1 Months Ended		1 Months Ended
	Aug. 31, 2012	Aug. 03, 2012 Common Class A [Member]	Aug. 31, 2012 Conversion of Class E to Class B [Member]	Aug. 31, 2012 Conversion of Class B to Class A [Member]	Aug. 31, 2012 Conversion of Class B to Class A [Member] Less than 10 Percent [Member]	Aug. 31, 2012 Conversion of Class C to Class A [Member]	Aug. 31, 2012 Conversion of Class B to Class A, Selling Stockholders [Member]	Aug. 31, 2012 Issued by Company [Member] Common Class A [Member]	Aug. 31, 2012 Sold By Existing Stockholders [Member] Common Class A [Member]	Aug. 31, 2012 Sold By Existing Stockholders [Member] Overallotment Option, Underwriters [Member] Common Class A [Member]
Subsequent Event [Line Items]
Shares sold for initial public offering								2,083,333
Shares sold by selling stockholders									7,500,000	1,250,000
Offering price per share (USD)		$ 12
Proceeds from issuance initial public offering	$ 25
Proceeds from issuance initial public offering, net	$ 21.3
Conversion of stock, shares converted			15,597,300		49,655,411	73,544	3,039,385
Conversion of stock, requirements, maximum ownership percentage				10.00%

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STOCK-BASED COMPENSATION (Grant Date Fair Values of Options Awarded to Employees) (Details) (USD $)	0 Months Ended	3 Months Ended				6 Months Ended
	Apr. 26, 2012	Jun. 30, 2012		Jun. 30, 2011		Jun. 30, 2012		Jun. 30, 2011		Aug. 03, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted average grant date per share fair value		$ 5.48	[1]	$ 5.40	[1]	$ 5.96	[1]	$ 5.49	[1]
Number of shares granted	204,615					410,000
Exercise price per share granted	$ 12.00									$ 12.00

[1] On April 26, 2012, the Board granted 204,615 options to employees. The exercise price and fair value per share of the April 26, 2012 grant is equal to the August 3, 2012 public offering price of $12.00. As the exercise price was unknown as of June 30, 2012, the April 26, 2012 grant was not considered a grant for accounting purposes and no related expense was recorded for the three and six month periods ended June 30, 2012, respectively.

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DEBT (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended		6 Months Ended
	Dec. 31, 2007 Mortgages [Member]	May 31, 2011 Mortgages [Member]	Jun. 30, 2012 Revolving Credit Facility [Member]	Jun. 30, 2012 Revolving Credit Facility [Member] Fluctuating Rate Per Annum [Member]	Jun. 30, 2012 Revolving Credit Facility [Member] Fixed Rate [Member]	Jun. 30, 2012 Revolving Credit Facility [Member] Fixed Rate [Member] Minimum [Member]	Jun. 30, 2012 Revolving Credit Facility [Member] Fixed Rate [Member] Maximum [Member]	Jun. 30, 2012 Revolving Credit Facility [Member] Letter of Credit [Member]
Debt Instrument [Line Items]
Mortgage loan, term	4 years
Mortgage loan, final balloon payment		$ 5.1
Revolving credit facility, current borrowing capacity			50.0
Revolving credit facility, maximum borrowing capacity			$ 75.0					$ 25.0
Revolving credit facility, variable rate				LIBOR	LIBOR
Revolving credit facility, period of variable rate				1 month		1 month	3 months
Revolving credit facility, basis spread on variable rate				0.75%	0.75%
Revolving credit facility, unused commitment fee percentage			0.10%
Revolving credit facility, minimum termination notice period			10 days

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RELATED-PARTY TRANSACTIONS (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Related Party Transactions [Abstract]
Purchases from related-party supplier	$ 3,960,000	$ 4,686,000	$ 8,524,000	$ 8,910,000
Accounts payable to related-party supplier	$ 500,000		$ 500,000		$ 1,200,000

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BUSINESS ACQUISTIONS

6 Months Ended

Jun. 30, 2012

Business Combinations [Abstract]

Business Acquisitions

BUSINESS ACQUISITIONS

On January 10, 2011, we entered into an asset purchase agreement with a development-stage spinal company that was accounted for as a business combination. The acquired company was privately held and focused on developing motion preservation spinal implants. It developed the ACADIA Facet Replacement System (“ACADIA”), an anatomic facet reconstruction device designed to provide patients with lumbar spinal stenosis and facet degeneration a motion preservation alternative to fusion. ACADIA is currently involved in a United States Food and Drug Administration (“FDA”) approved Investigational Device Exemption clinical study in the United States. In addition to an initial payment, we may be obligated to make an additional milestone payment within 30 days of approval by the FDA of Premarket Approval clearance concerning the ACADIA product.

On September 13, 2011, we entered into an asset purchase agreement with an exclusive sales distributor that was accounted for as a business combination. In addition to the initial purchase price, we may be obligated to make additional performance payments based upon achievement of sales targets by the distributor.

These acquisitions, which expand our product pipeline and retain key existing customer relationships, did not have a material effect on our consolidated net sales or operating income for the year ended December 31, 2011. The assets acquired and liabilities assumed as a result of the acquisitions were included in our consolidated balance sheet as of the acquisition dates. The purchase price for each of the acquisitions was primarily allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition dates. The fair value assigned to identifiable intangible assets acquired was determined primarily by using the income approach, which discounts expected future cash flows to present value using estimates and assumptions determined by management. Purchased identifiable intangible assets are amortized on a straight-line basis over their respective estimated useful lives. The excess purchase price over the value of the net tangible and identifiable intangible assets was recorded as goodwill. Goodwill is deductible for tax purposes over a period of 15 years.

A total of $7.5 million in the aggregate was paid for both acquisitions upon closing.

A summary of intangible assets as of December 31, 2011 is presented below:

(In thousands)	Weighted- Average Amortization Period (in years)	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, net
In-process research & development	0	$	4,100	$	—		$	4,100
Customer relationships	10	3,291		(33		)	3,258
Non-compete agreements	4	112		(37		)	75
Total intangible assets		$	7,503	$	(70	)	$	7,433

A summary of intangible assets as of June 30, 2012 is presented below:

(In thousands)	Weighted- Average Amortization Period (in years)	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, net
In-process research & development	0	$	4,100	$	—		$	4,100
Customer relationships	10	3,291		(220		)	3,071
Non-compete agreements	4	112		(45		)	67
Total intangible assets		$	7,503	$	(265	)	$	7,238

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STOCK-BASED COMPENSATION (Stock Option Activity) (Details) (USD $) In Thousands, except Share data, unless otherwise specified	0 Months Ended	6 Months Ended
	Apr. 26, 2012	Jun. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of shares outstanding beginning balance		6,454,000
Number of shares granted	204,615	410,000
Number of shares exercised		(252,000)
Number of shares forfeited		(156,000)
Number of shares outstanding ending balance		6,456,000
Number of shares exercisable		4,760,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted average exercise price per share outstanding beginning balance		$ 5.14
Weighted average exercise price per share granted		$ 10.34
Weighted average exercise price per share exercised		$ 2.38
Weighted average exercise price per share forfeited		$ 9.61
Weighted average exercise price per share outstanding ending balance		$ 5.43
Weighted average exercise price per share exercisable		$ 3.70
Weighted average remaining contractual life		5 years 10 months 24 days
Weighted average remaining contractual life exercisable		4 years 9 months 18 days
Aggregate intrinsic value outstanding		$ 56,016
Aggregate intrinsic value exercisable		$ 49,535

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BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Mar. 13, 2012 Minimum [Member]	Mar. 13, 2012 Maximum [Member]	Jul. 09, 2012 Subsequent Event [Member]
Summary of Significant Accounting Policies [Line Items]
Reverse stock split, proposed conversion ratio	2	5
Board approved reverse stock split ratio			3.25

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SEGMENT AND GEOGRAPHIC INFORMATION (Tables)

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Schedule of Revenue from External Customers by Geographical Area

The following table represents total sales by geographic area, based on the location of the customer.

	Three Months Ended				Six Months Ended
(In thousands)	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
United States	$	88,579	$	75,581	$	176,570	$	150,581
International	7,398		5,355		14,124		8,634
Total sales	$	95,977	$	80,936	$	190,694	$	159,215

Revenue from External Customers by Products and Services

The following table represents total sales by product category.

	Three Months Ended				Six Months Ended
(In thousands)	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
Innovative Fusion	$	61,233	$	55,758	$	122,721	$	111,973
Disruptive Technology	34,744		25,178		67,973		47,242
Total sales	$	95,977	$	80,936	$	190,694	$	159,215

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STOCK-BASED COMPENSATION (Compensation Expense Related to Stock Options and Their Intrinsic Values) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Compensation expense related to stock options	$ 1,026	$ 584	$ 2,137	$ 1,386
Intrinsic value of stock options exercised	$ 656	$ 249	$ 2,386	$ 444

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EARNINGS PER COMMON SHARE (Textuals) (Details) (Subsequent Event [Member])	Jul. 09, 2012
Subsequent Event [Member]
Subsequent Event [Line Items]
Board approved reverse stock split ratio	3.25

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EARNINGS PER COMMON SHARE (Basic and Diluted Earnings Per Share Computation) (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Earnings Per Share [Abstract]
Net Income	$ 19,001	$ 15,920	$ 36,577	$ 30,351
Net income allocated to Series E shares, basic	3,352	2,821	6,460	5,371
Net income available to common stockholders, basic	15,649	13,099	30,117	24,980
Number of shares used for basic EPS computation	72,757	72,430	72,691	72,549
Net earnings per common share - basic	$ 0.22	$ 0.18	$ 0.41	$ 0.34
Net income allocated to Series E shares, diluted	3,268	2,750	6,295	5,234
Net income available to common stockholders, diluted	$ 15,733	$ 13,170	$ 30,282	$ 25,117
Dilutive stock options (in shares)	2,900	2,222	2,767	2,553
Number of shares used for dilutive EPS computation	75,657	74,652	75,458	75,102
Net earnings per common share - dilutive	$ 0.21	$ 0.18	$ 0.40	$ 0.33

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EARNINGS PER COMMON SHARE

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Common Share

EARNINGS PER COMMON SHARE

The net earnings per share is computed using the weighted average number of common shares outstanding during each fiscal period reported as adjusted retroactively for the 3.25-to-1 reverse stock split effectuated prior to our IPO (see “Note 1(g). Reverse Stock Split and Initial Public Offering” and “Note 13. Subsequent Events”). Net income per share assuming dilution is based on the weighted average number of common shares and share equivalents outstanding. Common share equivalents include the effect of dilutive stock options using the treasury stock method. For the three and six months ended June 30, 2012 and 2011, the Series E convertible preferred shares were considered participating securities and were included in the computation of earnings per share in accordance with the two-class method.

The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended				Six Months Ended
	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
(In thousands, except per share amounts)
Basic net earnings per common share:
Net income	$	19,001	$	15,920	$	36,577	$	30,351
Net income allocated to Series E shares	3,352		2,821		6,460		5,371
Net income available to common stockholders	$	15,649	$	13,099	$	30,117	$	24,980
Number of shares used for basic EPS computation	72,757		72,430		72,691		72,549
Net earnings per common share - basic	$	0.22	$	0.18	$	0.41	$	0.34
Diluted net earnings per common share:
Net income	$	19,001	$	15,920	$	36,577	$	30,351
Net income allocated to Series E shares	3,268		2,750		6,295		5,234
Net income available to common stockholders	$	15,733	$	13,170	$	30,282	$	25,117
Number of shares used for basic EPS computation	72,757		72,430		72,691		72,549
Dilutive stock options	2,900		2,222		2,767		2,553
Number of shares used for dilutive EPS computation	75,657		74,652		75,458		75,102
Net earnings per common share - dilutive	$	0.21	$	0.18	$	0.40	$	0.33

Anti-dilutive common stock issuable upon exercise of stock options excluded from the calculation of diluted shares were as follows:

	Three Months Ended		Six Months Ended
(Shares, in thousands)	June 30, 2012	June 30, 2011	June 30, 2012	June 30, 2011
Anti-dilutive stock equivalents excluded from weighted average calculation	1,987	1,277	2,038	1,285

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EARNINGS PER COMMON SHARE (Anti-dilutive Common Stock Excluded from Calculation of Diluted Shares) (Details) (Stock Options [Member]) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Stock Options [Member]
Anti-dilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive stock equivalents excluded from weighted average calculation	1,987	1,277	2,038	1,285

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EQUITY (Schedule of Options Indexed to Issuer's Equity) (Details) (Put Option [Member], USD $) In Thousands, except Share data, unless otherwise specified	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Put Option [Member]
Option Indexed to Issuer's Equity [Line Items]
Shares of common stock subject to the Put Agreement	2,092,811	2,092,811
Value of the put option	$ 217	$ 455

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Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
ASSETS
Cash and cash equivalents	$ 165,577	$ 142,668
Accounts receivable, net of allowances of $906 and $602, respectively	49,475	46,727
Inventories	53,122	47,369
Prepaid expenses and other current assets	4,035	2,515
Income taxes receivable	3,812	3,336
Deferred income taxes	17,747	16,160
Total current assets	293,768	258,775
Property and equipment, net	55,772	52,394
Intangible assets, net	7,238	7,433
Goodwill	9,808	9,808
Other assets	718	980
Total assets	367,304	329,390
LIABILITIES AND EQUITY
Accounts payable	7,371	5,323
Accounts payable to related party	483	1,178
Accrued expenses	19,207	21,268
Income taxes payable	764	302
Business acquisition liabilities, current	1,200	1,200
Total current liabilities	29,025	29,271
Business acquisition liabilities, net of current portion	8,333	9,089
Deferred income taxes	5,500	5,755
Other liabilities	2,758	2,799
Total liabilities	45,616	46,914
Commitments and contingencies (Note 10)
Equity:
Convertible preferred stock; $0.001 par value. Authorized, issued and outstanding 50,691 shares at June 30, 2012 and December 31, 2011	51	51
Common stock; $0.001 par value. Authorized 785,000 and 679,178 shares; issued and outstanding 72,780 and 72,529 shares at June 30, 2012 and December 31, 2011	73	73
Additional paid-in capital	109,269	106,708
Accumulated other comprehensive loss	(1,128)	(1,202)
Retained earnings	213,423	176,846
Total equity	321,688	282,476
Total liabilities and equity	$ 367,304	$ 329,390

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INCOME TAXES (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Income Tax Disclosure [Abstract]
Effective income tax rate	37.50%	35.60%
Tax provision reversal		$ 0.9

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Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities:
Net income	$ 36,577	$ 30,351
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	8,888	7,876
Provision for excess and obsolete inventories	3,700	4,041
Stock-based compensation	2,137	1,386
Allowance for doubtful accounts	315	46
Change in fair value of interest rate swap	0	113
Change in fair value of contingent consideration	(40)	152
Deferred income taxes	(1,872)	111
(Increase) decrease in:
Accounts receivable	(3,050)	21
Inventories	(9,329)	(6,092)
Prepaid expenses and other assets	(1,284)	(815)
Increase (decrease) in:
Accounts payable	1,823	(2,038)
Accounts payable to related party	(695)	512
Accrued expenses and other liabilities	(2,171)	(4,259)
Income taxes payable/receivable	(119)	(973)
Net cash provided by operating activities	34,880	30,432
Cash flows from investing activities:
Purchases of property and equipment	(11,849)	(12,049)
Acquisition of businesses	0	(7,500)
Net cash used in investing activities	(11,849)	(19,549)
Cash flows from financing activities:
Repayments of long-term debt	0	(5,253)
Payment of business acquisition liabilities	(600)	0
Net proceeds from issuance of common and preferred stock	480	361
Purchase of common stock	0	(10,000)
Excess tax benefit related to nonqualified stock options	57	24
Net cash used in financing activities	(63)	(14,868)
Effect of foreign exchange rate on cash	(59)	36
Net increase/(decrease) in cash and cash equivalents	22,909	(3,949)
Cash and cash equivalents, beginning of period	142,668	111,701
Cash and cash equivalents, end of period	165,577	107,752
Supplemental disclosures of cash flow information:
Interest paid	26	147
Income taxes paid	$ 23,422	$ 18,176

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FAIR VALUE MEASUREMENTS (Details) (Fair Value, Measurements, Recurring [Member], USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Fair Value, Measurements, Fair Value Hierarchy [Domain]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	$ 97,072	$ 95,603
Contingent consideration	4,888	4,928
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	97,072	95,603
Contingent consideration	0	0
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	0	0
Contingent consideration	0	0
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	0	0
Contingent consideration	$ 4,888	$ 4,928

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BUSINESS ACQUISTIONS (Tables)

6 Months Ended

Jun. 30, 2012

Business Combinations [Abstract]

Intangible Assets Acquired as Part of Business Combination

A summary of intangible assets as of December 31, 2011 is presented below:

(In thousands)	Weighted- Average Amortization Period (in years)	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, net
In-process research & development	0	$	4,100	$	—		$	4,100
Customer relationships	10	3,291		(33		)	3,258
Non-compete agreements	4	112		(37		)	75
Total intangible assets		$	7,503	$	(70	)	$	7,433

A summary of intangible assets as of June 30, 2012 is presented below:

(In thousands)	Weighted- Average Amortization Period (in years)	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, net
In-process research & development	0	$	4,100	$	—		$	4,100
Customer relationships	10	3,291		(220		)	3,071
Non-compete agreements	4	112		(45		)	67
Total intangible assets		$	7,503	$	(265	)	$	7,238

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ACCRUED EXPENSES (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Payables and Accruals [Abstract]
Compensation and other employee-related costs	$ 12,107	$ 13,145
Royalties	1,722	1,497
Legal and other settlements and expenses	1,587	2,776
Other	3,791	3,850
Total accrued expenses	$ 19,207	$ 21,268

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ACCRUED EXPENSES (Tables)

6 Months Ended

Jun. 30, 2012

Payables and Accruals [Abstract]

Accrued Expenses

(In thousands)	June 30, 2012		December 31, 2011
Compensation and other employee-related costs	$	12,107	$	13,145
Royalties	1,722		1,497
Legal and other settlements and expenses	1,587		2,776
Other	3,791		3,850
Total accrued expenses	$	19,207	$	21,268

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BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2012

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Background and Summary of Significant Accounting Policies

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) The Company

Globus Medical, Inc. and its subsidiaries (the “Company” or “Globus”) is a medical device company focused exclusively on the design, development and commercialization of products that promote healing in patients with spine disorders. Since our inception in 2003, we have launched over 100 products and offer a product portfolio addressing a broad array of spinal pathologies.

We are headquartered in Audubon, Pennsylvania and market and sell our products through our exclusive sales force in the United States, Europe, India, South Africa, Australia, South America and the Middle East. The sales force consists of direct sales representatives and distributor sales representatives employed by exclusive independent distributors.

The terms the “Company,” “Globus,” “we,” “us” and “our” refer to Globus Medical, Inc. and, where applicable, our consolidated subsidiaries.

(b) Basis of Presentation

The accompanying interim unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in complete financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying footnotes included in our prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended (“Securities Act”) on August 3, 2012.

In the opinion of management, the statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of our financial position and of the results for the three and six month periods presented. The results of operations for any interim period are not indicative of results for the full year.

(c) Principles of Consolidation

The accompanying consolidated financial statements include the accounts of Globus and its wholly owned subsidiaries. Our consolidation policy requires the consolidation of entities where a controlling financial interest is held as well as the consolidation of variable interest entities in which we are the primary beneficiary. All intercompany balances and transactions are eliminated in consolidation.

(d) Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates, in part, on historical experience that management believes to be reasonable under the circumstances. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary.

Significant areas that require management’s estimates include intangible assets, contingent payment liabilities, allowance for doubtful accounts, stock-based compensation, provision for excess and obsolete inventory, useful lives of assets, the outcome of litigation, and income taxes. We are subject to risks and uncertainties due to changes in the healthcare environment, regulatory oversight, competition, and legislation that may cause actual results to differ from estimated results.

(e) Inventories

Inventories are stated at the lower of cost or market. Cost is determined on a first-in, first-out basis. The majority of our inventories are finished goods as we mainly utilize third-party suppliers to source our products. We periodically evaluate the carrying value of our inventories in relation to our estimated forecast of product demand, which takes into consideration the estimated life cycle of product releases. When quantities on hand exceed estimated sales forecasts, we record a reserve for such excess inventories.

(f) Revenue Recognition

Revenue is recognized when persuasive evidence of an arrangement exists, product delivery has occurred, pricing is fixed or determinable, and collection is reasonably assured. A significant portion of our revenue is generated from consigned inventory maintained at hospitals or with sales representatives. For these products, revenue is recognized at the time the product is used or implanted. For all other transactions, we recognize revenue when title to the goods and risk of loss transfer to customers, provided there are no remaining performance obligations that will affect the customer’s final acceptance of the sale. Our policy is to classify shipping and handling costs billed to customers as sales and the related expenses as cost of goods sold.

(g) Reverse Stock Split and Initial Public Offering

In anticipation of our initial public offering (“IPO”), on March 13, 2012, our Board of Directors (“Board”) approved a reverse stock split of our common stock such that each two to five shares of issued common stock would be reclassified into one share of common stock, with the exact ratio within the two to five range to be subsequently determined by the Board. The stockholders approved the range of the reverse stock split on June 8, 2012. On July 9, 2012, our Board approved a ratio of one share for every 3.25 shares previously held. The reverse stock split became effective on July 31, 2012. All common stock share and per-share amounts for all periods presented in these financial statements have been adjusted retroactively to reflect the reverse stock split. See “Note 13. Subsequent Events” below for more details regarding the IPO.

(h) Recently Issued Accounting Pronouncements

Effective January 1, 2012, we adopted Financial Accounting Standards Board (“FASB”) authoritative guidance that amends previous guidance for the presentation of comprehensive income. The new standard eliminates the option to present other comprehensive income in the statement of changes in equity. Under the revised guidance, an entity has the option to present the components of net income and other comprehensive income in either a single continuous statement of comprehensive income or in two separate but consecutive financial statements. We are providing two separate but consecutive financial statements. The new standard was required to be applied retroactively. Other than the change in presentation, the adoption of the new standard did not have an impact on our financial position or results of operations.  

Effective January 1, 2012, we adopted FASB authoritative guidance that amends previous guidance for fair value measurement and disclosure requirements. The revised guidance changes certain fair value measurement principles, clarifies the application of existing fair value measurements and expands the disclosure requirements, particularly for Level 3 fair value measurements. Adoption of the amendments did not have a material impact on our financial position or results of operations.

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Consolidated Balance Sheets (Parentheticals) (USD $) In Thousands, except Share data, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Current Assets:
Allowance for doubtful accounts	$ 906	$ 602
Equity:
Convertible preferred stock, par value	$ 0.001	$ 0.001
Convertible preferred stock, shares authorized	50,691,000	50,691,000
Convertible preferred stock, shares issued	50,691,000	50,691,000
Convertible preferred stock, shares outstanding	50,691,000	50,691,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	785,000,000	679,178,000
Common stock, shares issued	72,780,402	72,528,569
Common stock, shares outstanding	72,780,402	72,528,569

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RELATED-PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2012

Related Party Transactions [Abstract]

Related Party Transactions

RELATED-PARTY TRANSACTIONS

Since 2005, we have contracted with a third-party manufacturer in which certain of our senior management and significant stockholders have or had ownership interests and leadership positions and was consolidated by us through December 29, 2009. We have purchased the following amounts of products and services from the supplier:

	Three Months Ended				Six Months Ended
(In thousands)	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
Purchases from related-party supplier	$	3,960	$	4,686	$	8,524	$	8,910

As of June 30, 2012 and December 31, 2011, we had $0.5 million and $1.2 million of accounts payable due to the supplier.

Certain members of our senior management, including our CEO, President and Chief Operating Officer and Vice President of Operations, or their spouses, are stockholders of this third-party manufacturer. In addition, until March 2009, our CEO served as the President and CEO and as a director of the manufacturer, and our Vice President of Operations served as the Secretary and Treasurer and as a director of the manufacturer. Since February 2010, our CEO’s wife and our Vice President of Operation’s wife have served and continue to serve as directors of the manufacturer.

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DEI Document	6 Months Ended
	Jun. 30, 2012	Aug. 08, 2012
Document Information [Line Items]
Entity Registrant Name	GLOBUS MEDICAL INC
Entity Central Index Key	0001237831
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		90,461,035

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SEGMENT AND GEOGRAPHIC INFORMATION

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Segment And Geographic Information

SEGMENT AND GEOGRAPHIC INFORMATION

Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. We globally manage the business within one reportable segment. Segment information is consistent with how management reviews the business, makes investing and resource allocation decisions and assesses operating performance. Products are sold principally in the United States. Segmentation of operating income and identifiable assets is not applicable since our sales outside the United States are export sales, and we do not have significant operating assets outside the United States.

The following table represents total sales by geographic area, based on the location of the customer.

	Three Months Ended				Six Months Ended
(In thousands)	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
United States	$	88,579	$	75,581	$	176,570	$	150,581
International	7,398		5,355		14,124		8,634
Total sales	$	95,977	$	80,936	$	190,694	$	159,215

We classify our products into two categories: innovative fusion products and disruptive technology products. The following table represents total sales by product category.

	Three Months Ended				Six Months Ended
(In thousands)	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
Innovative Fusion	$	61,233	$	55,758	$	122,721	$	111,973
Disruptive Technology	34,744		25,178		67,973		47,242
Total sales	$	95,977	$	80,936	$	190,694	$	159,215

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Consolidated Statements of Income (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Income Statement [Abstract]
Sales	$ 95,977	$ 80,936	$ 190,694	$ 159,215
Cost of goods sold	18,379	17,269	36,770	32,168
Gross profit	77,598	63,667	153,924	127,047
Operating expenses:
Research and development	6,940	5,735	13,676	11,775
Selling, general and administrative	41,231	33,753	82,456	67,767
Provision for litigation settlements	(1,138)	370	(831)	384
Total operating expenses	47,033	39,858	95,301	79,926
Operating Income	30,565	23,809	58,623	47,121
Other expense, net	(304)	(25)	(79)	(21)
Income before income taxes	30,261	23,784	58,544	47,100
Income tax provision	11,260	7,864	21,967	16,749
Net Income	$ 19,001	$ 15,920	$ 36,577	$ 30,351
Earnings per share:
Basic	$ 0.22	$ 0.18	$ 0.41	$ 0.34
Diluted	$ 0.21	$ 0.18	$ 0.40	$ 0.33
Weighted average shares outstanding:
Basic	72,757	72,430	72,691	72,549
Diluted	75,657	74,652	75,458	75,102

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DEBT

6 Months Ended

Jun. 30, 2012

Debt Disclosure [Abstract]

Debt

DEBT

(a) Mortgage Loan

In 2007, we entered into a four-year mortgage loan payable with a bank associated with our corporate headquarters in Audubon, Pennsylvania. The mortgage was paid in full with a final balloon payment of $5.1 million in May 2011.

(b) Line of Credit

In May 2011, and as amended in March 2012, we entered into a credit agreement with Wells Fargo Bank related to a revolving credit facility that provides for borrowings up to $50.0 million. At our request, and with the approval of the bank, the amount of borrowings available under the revolving credit facility can be increased to $75.0 million. The revolving credit facility includes up to a $25.0 million sub-limit for letters of credit. The revolving credit facility has been extended to May 2014. Cash advances bear interest at our option either at a fluctuating rate per annum equal to the daily LIBOR in effect for a one-month period plus 0.75% or a fixed rate for a one or three month period equal to LIBOR plus 0.75%. The credit agreement governing the revolving credit facility also subjects us to various restrictive covenants, including the requirement to maintain maximum consolidated leverage. The covenants also include limitations on our ability to repurchase shares, to pay cash dividends or to enter into a sale transaction. As of June 30, 2012, we were in compliance with all covenants under the credit agreement, there were no outstanding borrowings under the revolving credit facility and available borrowings were $50.0 million. The revolving credit facility is subject to an unused commitment fee of 0.10% of the unused portion. We may terminate the credit agreement at any time on ten days’ notice without premium or penalty.

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ACCRUED EXPENSES

6 Months Ended

Jun. 30, 2012

Payables and Accruals [Abstract]

Accrued Expenses

ACCRUED EXPENSES

(In thousands)	June 30, 2012		December 31, 2011
Compensation and other employee-related costs	$	12,107	$	13,145
Royalties	1,722		1,497
Legal and other settlements and expenses	1,587		2,776
Other	3,791		3,850
Total accrued expenses	$	19,207	$	21,268

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FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

The fair value of our assets and liabilities measured at fair value on a recurring basis was as follows:

	Balance at
(In thousands)	December 31, 2011		Level 1		Level 2	Level 3
Cash equivalents	$	95,603	$	95,603	—	—
Contingent consideration	4,928		—		—	4,928

	Balance at
(In thousands)	June 30, 2012		Level 1		Level 2	Level 3
Cash equivalents	$	97,072	$	97,072	—	—
Contingent consideration	4,888		—		—	4,888

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SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2012

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

Initial Public Offering

In August 2012, we completed our IPO. We sold 2,083,333 shares of our Class A Common while selling stockholders sold 7,500,000 shares of our Class A Common (inclusive of 1,250,000 shares from the full exercise of the overallotment option of shares granted to the underwriters) at an offering price of $12.00 per share.

We recognized gross proceeds of $25 million and we did not receive any proceeds from the sales of shares by the selling stockholders. Our net proceeds received after underwriting fees and offering expenses were $21.3 million. We intend to use the net proceeds received by us from the IPO for working capital and general corporate purposes, including further expansion of our sales and marketing efforts and continued investments in research and development; however we do not have any specific uses of the net proceeds planned.

All common stock share and per-share amounts for all periods presented in these financial statements have been adjusted retroactively to reflect the reverse stock split which became effective July 31, 2012.

Immediately prior to the closing of our IPO, we effectuated the following conversion:

• the automatic conversion of all shares of our Series E preferred stock to 15,597,300 shares of our Class B Common;

• the subsequent automatic conversion of 49,655,411 shares of our Class B Common (which reflects all such shares of Class B Common held by those who owned less than 10% of the aggregate number of all outstanding shares of our common stock) to 49,655,411 shares of our Class A Common;

• the automatic conversion of all shares of our Class C Common to 73,544 shares of our Class A Common; and

• the automatic conversion of 3,039,385 shares of Class B Common to 3,039,385 shares of Class A Common upon their sale by the selling stockholders.

Although the number of outstanding shares of our Series E preferred stock did not change due to the reverse stock split, the rate at which shares of our Series E preferred stock converted into shares of Class B Common decreased proportionally to the reverse stock split ratio. The reverse stock split did not affect the number of shares of capital stock we are authorized to issue. As a result of the reverse stock split, the number of unreserved and issuable shares of authorized common stock increased.

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INCOME TAXES

6 Months Ended

Jun. 30, 2012

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

In computing our income tax provision we make certain estimates and management judgments, such as estimated annual taxable income or loss, annual effective tax rate, the nature and timing of permanent and temporary differences between taxable income for financial reporting and tax reporting, and the recoverability of deferred tax assets. Our estimates and assumptions may change as new events occur, additional information is obtained, or as the tax environment changes. Should facts and circumstances change during a quarter causing a material change to the estimated effective income tax rate, a cumulative adjustment is recorded.

For the six month periods ended June 30, 2012 and June 30, 2011, our effective income tax rates were 37.5% and 35.6%, respectively. The effective rate for the six months ended June 30, 2011 was favorably affected by the reversal of a $0.9 million tax provision related to FASB Interpretation No. 48 (“FIN 48”) reserve resulting from the completion of IRS examinations with respect to the 2005 through 2008 tax years.

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EQUITY

6 Months Ended

Jun. 30, 2012

Equity [Abstract]

Equity

EQUITY

Prior to June 21, 2012, of the authorized number of shares of common stock, we had 360,000,000 designated as Class A common stock (“Class A Common”), 309,178,636 designated as Class B common stock (“Class B Common”) and 10,000,000 designated as Class C common stock (“Class C Common”). On June 21, 2012, we executed an Amended and Restated Certificate of Incorporation, and as a result, amended the number of authorized shares. As of the amendment date, of the authorized number of shares of common stock, we had 500,000,000 designated as Class A Common, 275,000,000 designated as Class B Common and 10,000,000 designated as Class C Common.

The holders of Class A Common are entitled to one vote for each share of Class A Common held. The holders of Class B Common are entitled to 10 votes for each share of Class B Common held. The holders of Class A Common and Class B Common vote together as one class of common stock. The Class C Common is nonvoting. Except for the voting rights, the Class A Common, Class B Common and Class C Common have the same rights and privileges.

Our issued and outstanding shares by Class were as follows:

(Shares)	Class A Common	Class B  Common	Class C Common	Total
December 31, 2011	7,452,748	65,017,414	58,407	72,528,569
June 30, 2012	8,231,796	64,475,052	73,554	72,780,402

In 2011, we repurchased 1,233,397 shares of our outstanding common stock from existing stockholders. There were no repurchases during the three month period ending June 30, 2011 nor during the six month period ending June 30, 2012.

In connection with a business acquisition, we entered into a put agreement with an existing stockholder (the “Put Agreement”). Pursuant to the Put Agreement, the stockholder has the right and option to cause us to repurchase up to 25% of the stockholders’ shares on the last business day of September in each of 2014, 2015, 2016 and 2017. The put purchase price will be determined based upon our trailing twelve months earnings before interest, taxes, depreciation and amortization (“EBITDA”).

We had the following amounts recorded related to the put option in business acquisition liabilities on our balance sheet:

(In thousands, except share amounts)	June 30, 2012		December 31, 2011
Shares of common stock subject to the Put Agreement	2,092,811		2,092,811
Value of the put option	$	217	$	455

The put option was cancelable and may not be exercised any time after the earliest to occur of (i) the closing of an IPO, (ii) the date on which we enter into an agreement for a sale of the Company, as defined, and (iii) a breach event, as defined in the Put Agreement.

Subsequent to June 30, 2012 we completed our IPO, and therefore cancelled the put option at that time.

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STOCK-BASED COMPENSATION

6 Months Ended

Jun. 30, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

STOCK-BASED COMPENSATION

We have three Stock Plans (the “Plans”), the purpose of which is to provide incentive to employees, directors, and consultants of the Company. We have reserved an aggregate of 2,769,230 shares of Class A Common, 4,153,846 shares of Class B Common, and 2,988,297 shares of Class C Common pursuant to our Amended and Restated 2003 Stock Plan (the “2003 Plan”) and our 2008 Stock Plan (the “2008 Plan”). The Plans are administered by the Board. The number, type of option, exercise price, and vesting terms are determined by the Board in accordance with the terms of the Plans. The options granted expire on a date specified by the Board, but generally not more than ten years from the grant date. Option grants to employees generally vest monthly over a four-year period.

The Board approved the 2012 Equity Incentive Plan (the “2012 Plan”) in March 2012, and our stockholders subsequently approved the 2012 Plan in June 2012. Under the terms of the 2012 Plan, the aggregate number of shares of Class A Common that may be issued subject to options and other awards is equal to the sum of (1) 3,076,923 shares, (2) any shares available for issuance under the 2008 Plan as of March 13, 2012, (3) any shares underlying awards outstanding under the 2008 Plan as of March 13, 2012 that, on or after that date, are forfeited, terminated, expired or lapse for any reason, or are settled for cash without delivery of shares and (4) starting January 1, 2013, an annual increase in the number of shares available under the 2012 Plan equal to up to 3% of the number of shares of our common and preferred stock outstanding at the end of the previous year, as determined by the Board. The number of shares that may be issued or transferred pursuant to incentive stock options under the 2012 Plan is limited to 10,769,230 shares. The shares of Class A Common covered by the 2012 Plan are authorized but unissued shares, treasury shares or common stock purchased on the open market.

As of June 30, 2012, there were 3,820,534 shares of common stock available for future grants under the Plans.

The weighted average grant date per share fair values of the options awarded to employees were as follows:

	Three Months Ended				Six Months Ended
	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
Weighted average grant date per share fair value*	$	5.48	$	5.40	$	5.96	$	5.49

_____________________

* On April 26, 2012, the Board granted 204,615 options to employees. The exercise price and fair value per share of the April 26, 2012 grant is equal to the August 3, 2012 public offering price of $12.00. As the exercise price was unknown as of June 30, 2012, the April 26, 2012 grant was not considered a grant for accounting purposes and no related expense was recorded for the three and six month periods ended June 30, 2012, respectively.

Stock option activity during the six months ended June 30, 2012 is summarized as follows:  

	Option Shares(thousands)		Weighted average exercise price		Weighted average remaining contractual life (years)	Aggregate intrinsic value (thousands)
Outstanding at December 31, 2011	6,454		$	5.14
Granted	410		10.34
Exercised	(252	)	2.38
Forfeited	(156	)	9.61
Outstanding at June 30, 2012	6,456		$	5.43	5.9	$	56,016
Exercisable at June 30, 2012	4,760		$	3.70	4.8	$	49,535

See our prospectus filed August 3, 2012 for valuations used to determine intrinsic value prior to February 2, 2012. Subsequent to the February 2012 and March 2012 stock option grants, the Company reassessed the fair value of its common stock on those dates of grant, by updating the assumptions and facts considered in the October 2011 valuation report to take into account its actual results, market conditions, comparable company results, and the timing of the Company’s anticipated IPO. On July 2, 2012, the Company determined that the fair value as of the February 2, 2012 grant was $12.06 and that the fair value as of the March 28, 2012 grant was $14.10, rather than $10.34 as originally determined. The impact on net income for the three months ended March 31, 2012 and June 30, 2012 was not material.

Compensation expense related to stock options granted to employees and non-employees under the Plans and the intrinsic value of stock options exercised was as follows:

	Three Months Ended				Six Months Ended
(In thousands)	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
Compensation expense related to stock options	$	1,026	$	584	$	2,137	$	1,386
Intrinsic value of stock options exercised	656		249		2,386		444

As of June 30, 2012, there was $7.8 million of unrecognized compensation expense related to unvested employee stock options that is expected to vest over a weighted average period of three years.

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COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

We are involved in a number of proceedings, legal actions, and claims. Such matters are subject to many uncertainties, and the outcomes of these matters are not within our control and may not be known for prolonged periods of time. In some actions, the claimants seek damages, as well as other relief, including injunctions prohibiting us from engaging in certain activities, which, if granted, could require significant expenditures and/or result in lost revenues. We record a liability in the consolidated financial statements for these actions when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss is possible but not known or probable, and can be reasonably estimated, the estimated loss or range of loss is disclosed. In most cases, significant judgment is required to estimate the amount and timing of a loss to be recorded. While it is not possible to predict the outcome for most of the matters discussed, we believe it is possible that costs associated with them could have a material adverse impact on our consolidated earnings, financial position or cash flows.

Compliance-Civil Monetary Penalties Proceeding-NUBONE

In February 2012, we and David Paul, our Chairman and Chief Executive Officer (“CEO”), reached a settlement with the FDA to resolve an administrative complaint alleging Food, Drug and Cosmetic Act violations regarding the marketing of our product, NUBONE. We voluntarily discontinued the manufacturing and sale of NUBONE in 2010 despite a history of safe use. The settlement did not constitute an admission of liability or fault by either us or Mr. Paul.

A settlement agreement of $1.0 million was finalized and paid in February 2012. The full settlement amount was accrued (and included in the provision for litigation settlements on the income statement) as of December 31, 2011.

Patent Infringement Litigation-PIVOT & Non-PIVOT Systems

Warsaw Orthopedic, Inc. had filed suit (the original complaint was filed in September 2006) against us in the United States District Court for the Eastern District of Pennsylvania alleging, among other matters, that we are willfully infringing the claims of nine patents (the “Competitor Patents”) in connection with our manufacture, sale, and use of certain products, including the PIVOT MIS System. The competitor sought damages and injunctive relief against any Globus product held to infringe on one or more Competitor Patents.

A jury trial began in September 2008 on the claims regarding the PIVOT MIS System with the remainder of the claims being settled shortly thereafter. The jury found that the PIVOT MIS System infringed certain Competitor Patents. On July 16, 2009, the court awarded damages to the competitor in the amount of $2.8 million, but denied the competitor’s claim for injunctive relief. Both parties appealed the court’s ruling.  The competitor voluntarily dismissed its appeal. The appeal was decided on January 26, 2011 with a finding that certain claims of the Competitor Patents are invalid and certain claims are valid. As result of the appeals court ruling, the damages awarded by the trial court stand.  After the appeal ruling, the parties stipulated to conclude the litigation.

As of December 31, 2010, we had accrued $3.0 million based on the trial court damages award for the PIVOT matters and for ongoing royalty payments in 2011. In June 2011, we paid $3.0 million, including post-judgment interest.

N-Spine and Synthes Litigation

In April 2010, N-Spine, Inc. and Synthes USA Sales, LLC filed suit against us in the U.S. District Court for the District of Delaware for patent infringement. N-Spine, the patent owner, and Synthes USA, a licensee of the subject patent, allege that we willfully infringe one or more claims of the patent by making, using, offering for sale or selling our TRANSITION stabilization system product. N-Spine and Synthes USA seek injunctive relief and an unspecified amount in damages. We intend to defend our rights vigorously. This matter is in its early stages and was stayed on July 14, 2011 pending the resolution of an inter partes reexamination on the asserted patent granted by the U.S. Patent and Trademark Office in February 2011. In December 2011, the examiner withdrew the original grounds of rejection of the asserted patent and we have appealed the examiner’s decision.

Synthes USA, LLC, Synthes USA Products, LLC and Synthes USA Sales, LLC Litigation

In July 2011, Synthes USA, LLC, Synthes USA Products, LLC and Synthes USA Sales, LLC filed suit against us in the U.S. District Court for the District of Delaware for patent infringement. Synthes USA LLC, the patent owner, Synthes USA Products, LLC, a licensee to manufacture products of the subject patents, and Synthes USA Sales LLC, a licensee to sell products of the subject patents, allege that we willfully infringe one or more claims of three patents by making, using, offering for sale or selling our COALITION, INDEPENDENCE and INTERCONTINENTAL products. Synthes seeks injunctive relief and an unspecified amount in damages. We intend to defend our rights vigorously. This matter is in its early stages and its outcome is uncertain.

L5 Litigation

In December 2009, we filed suit in the Court of Common Pleas of Montgomery County, Pennsylvania against our former exclusive independent distributor L5 Surgical, LLC and its principals, seeking an injunction and declaratory judgment concerning certain restrictive covenants made to L5 by its sales representatives. L5 brought counterclaims against us alleging tortious interference, unfair competition and conspiracy. The injunction phase was resolved in September 2010, and the parties’ underlying damages claims are pending. We intend to defend our rights vigorously. This matter is currently in discovery and its outcome is uncertain.

NuVasive Infringement Litigation

In October 2010, NuVasive, Inc. filed suit against us in the U.S. District Court for the District of Delaware for patent infringement. NuVasive, the patent owner, alleges that we willfully infringe one or more claims of three patents by making, using, offering for sale or selling our MARS 3V, TRANSCONTINENTAL, INTERCONTINENTAL, and CALIBER-L products. NuVasive seeks injunctive relief and an unspecified amount in damages. We intend to defend our rights vigorously. This matter is currently near the end of the discovery stage. Additionally, we sought inter partes reexaminations of the three patents asserted by NuVasive in the U.S. Patent and Trademark Office, which were granted in April 2012. In August 2012, the examiner withdrew the original grounds of rejection of one of the patents asserted by NuVasive, and we are in the process of appealing the examiner’s decision. The outcome of this matter is uncertain.

NuVasive Employee Litigation

In the past two years, we hired several employees who were formerly employed by NuVasive, Inc. In July 2011, NuVasive filed suit against us in the District Court of Travis County Texas alleging that our hiring of one named former employee and other unnamed former employees constitutes tortious interference with their contract with employees, and with prospective business relationships, as well as aiding and abetting the breach of fiduciary duty. NuVasive is seeking compensatory damages, permanent injunction, punitive damages and attorneys’ fees. We intend to defend our rights vigorously. This matter is in its very early stages and its outcome is uncertain.

Bianco Litigation

On March 21, 2012, Sabatino Bianco filed suit against us in the Federal District Court for the Eastern District of Texas claiming that we misappropriated his trade secret and confidential information and improperly utilized it in developing our CALIBER product. Bianco alleges that we engaged in misappropriation of trade secrets, breach of contract, unfair competition, fraud and theft and seeks correction of inventorship, injunctive relief and exemplary damages. On April 20, 2012, Bianco filed a motion for a preliminary injunction, seeking to enjoin us from making, using, selling, importing or offering for sale our CALIBER product. We intend to defend our rights vigorously. This matter is in its very early stages and the outcome is uncertain.

In addition, we are subject to legal proceedings arising in the ordinary course of business. Although the results of litigation and claims cannot be predicted with certainty, we currently believe that the final outcome of these matters will not have a material adverse effect on our business, financial position, results of operations or cash flows.

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BUSINESS ACQUISTIONS (Textuals) (Details) (USD $) In Millions, unless otherwise specified	Jun. 30, 2012	Sep. 13, 2011
Business Combinations [Abstract]
Deductibility period of goodwill for tax purposes	15 years
Aggregate purchase price paid for acquisitions at closing		$ 7.5

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EARNINGS PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended				Six Months Ended
	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
(In thousands, except per share amounts)
Basic net earnings per common share:
Net income	$	19,001	$	15,920	$	36,577	$	30,351
Net income allocated to Series E shares	3,352		2,821		6,460		5,371
Net income available to common stockholders	$	15,649	$	13,099	$	30,117	$	24,980
Number of shares used for basic EPS computation	72,757		72,430		72,691		72,549
Net earnings per common share - basic	$	0.22	$	0.18	$	0.41	$	0.34
Diluted net earnings per common share:
Net income	$	19,001	$	15,920	$	36,577	$	30,351
Net income allocated to Series E shares	3,268		2,750		6,295		5,234
Net income available to common stockholders	$	15,733	$	13,170	$	30,282	$	25,117
Number of shares used for basic EPS computation	72,757		72,430		72,691		72,549
Dilutive stock options	2,900		2,222		2,767		2,553
Number of shares used for dilutive EPS computation	75,657		74,652		75,458		75,102
Net earnings per common share - dilutive	$	0.21	$	0.18	$	0.40	$	0.33

Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share

Anti-dilutive common stock issuable upon exercise of stock options excluded from the calculation of diluted shares were as follows:

	Three Months Ended		Six Months Ended
(Shares, in thousands)	June 30, 2012	June 30, 2011	June 30, 2012	June 30, 2011
Anti-dilutive stock equivalents excluded from weighted average calculation	1,987	1,277	2,038	1,285

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STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Grants in Period, Weighted Average Grant Date Fair Value

The weighted average grant date per share fair values of the options awarded to employees were as follows:

	Three Months Ended				Six Months Ended
	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
Weighted average grant date per share fair value*	$	5.48	$	5.40	$	5.96	$	5.49

_____________________

* On April 26, 2012, the Board granted 204,615 options to employees. The exercise price and fair value per share of the April 26, 2012 grant is equal to the August 3, 2012 public offering price of $12.00. As the exercise price was unknown as of June 30, 2012, the April 26, 2012 grant was not considered a grant for accounting purposes and no related expense was recorded for the three and six month periods ended June 30, 2012, respectively.

Summary of Stock Option Activity

Stock option activity during the six months ended June 30, 2012 is summarized as follows:  

	Option Shares(thousands)		Weighted average exercise price		Weighted average remaining contractual life (years)	Aggregate intrinsic value (thousands)
Outstanding at December 31, 2011	6,454		$	5.14
Granted	410		10.34
Exercised	(252	)	2.38
Forfeited	(156	)	9.61
Outstanding at June 30, 2012	6,456		$	5.43	5.9	$	56,016
Exercisable at June 30, 2012	4,760		$	3.70	4.8	$	49,535

Stock Option Compensation Expense and Intrinsic Value Schedule

Compensation expense related to stock options granted to employees and non-employees under the Plans and the intrinsic value of stock options exercised was as follows:

	Three Months Ended				Six Months Ended
(In thousands)	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
Compensation expense related to stock options	$	1,026	$	584	$	2,137	$	1,386
Intrinsic value of stock options exercised	656		249		2,386		444

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SEGMENT AND GEOGRAPHIC INFORMATION (Products) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012 categories segments	Jun. 30, 2011
Revenue from External Customer [Line Items]
Total sales	$ 95,977	$ 80,936	$ 190,694	$ 159,215
Textuals [Abstract]
Number of reportable segments			1
Number of product categories			2
Innovative Fusion [Member]
Revenue from External Customer [Line Items]
Total sales	61,233	55,758	122,721	111,973
Disruptive Technology [Member]
Revenue from External Customer [Line Items]
Total sales	$ 34,744	$ 25,178	$ 67,973	$ 47,242

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STOCK-BASED COMPENSATION (Textuals) (Details) (USD $) In Millions, except Share data, unless otherwise specified							6 Months Ended
	Aug. 03, 2012	Jun. 30, 2012 Stock_Plans	Apr. 26, 2012	Jun. 30, 2012 Common Class A [Member]	Jun. 30, 2012 Common Class B [Member]	Jun. 30, 2012 Common Class C [Member]	Jun. 30, 2012 Stock Options [Member]	Jun. 30, 2012 2012 Equity Incentive Plan [Member]	Jun. 30, 2012 2012 Equity Incentive Plan [Member] Maximum [Member]	Jul. 02, 2012 Reassessment Fair Value of Common Stock [Member] February 2, 2012 Grant [Member] Subsequent Event [Member]	Jul. 02, 2012 Reassessment Fair Value of Common Stock [Member] March 28, 2012 Grant [Member] Subsequent Event [Member]	Jun. 30, 2012 Original Fair Value of Common Stock [Member] February 2, 2012 Grant [Member] Subsequent Event [Member]	Jun. 30, 2012 Original Fair Value of Common Stock [Member] March 28, 2012 Grant [Member] Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock plans		3
Shares reserved under the Amended and Restated 2003 Stock Plan and the 2008 Stock Plan				2,769,230	4,153,846	2,988,297
Number of shares available for grant		3,820,534							10,769,230
Maximum contractual term							10 years
Award vesting period (in years)							4 years
Base number of shares that may be issuable under stock plan								3,076,923
Annual percentage limit for incremental shares that may be issued									3.00%
Unrecognized compensation expense, unvested stock options							$ 7.8
Weighted average period of recognition, unvested stock options							3 years
Exercise price per share granted	$ 12.00		$ 12.00							$ 12.06	$ 14.10	$ 10.34	$ 10.34

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Consolidated Statements of Comprehensive Income (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Statement of Other Comprehensive Income [Abstract]
Net income	$ 19,001	$ 15,920	$ 36,577	$ 30,351
Other comprehensive income (loss), net of tax:
Foreign currency translation	(227)	33	74	18
Total other comprehensive income (loss)	(227)	33	74	18
Comprehensive Income	$ 18,774	$ 15,953	$ 36,651	$ 30,369

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FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Under the accounting for fair value measurements and disclosures, fair value is defined as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or the liability in an orderly transaction between market participants on the measurement date. Additionally, a fair value hierarchy was established that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable inputs. The level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

Our assets and liabilities measured at fair value on a recurring basis are classified and disclosed in one of the following three categories:

Level 1—quoted prices (unadjusted) in active markets for identical assets and liabilities;

Level 2—observable inputs other than quoted prices in active markets for identical assets and liabilities; and

Level 3—unobservable inputs in which there is little or no market data available, which require the reporting entity use significant unobservable inputs or valuation techniques.

The fair value of our assets and liabilities measured at fair value on a recurring basis was as follows:

	Balance at
(In thousands)	December 31, 2011		Level 1		Level 2	Level 3
Cash equivalents	$	95,603	$	95,603	—	—
Contingent consideration	4,928		—		—	4,928

	Balance at
(In thousands)	June 30, 2012		Level 1		Level 2	Level 3
Cash equivalents	$	97,072	$	97,072	—	—
Contingent consideration	4,888		—		—	4,888

Contingent consideration is measured at fair value and is based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. The valuation of contingent consideration uses assumptions we believe would be made by a market participant. We assess these estimates on an ongoing basis as additional data impacting the assumptions is obtained. Changes in the fair value of contingent consideration related to updated assumptions and estimates are recognized within operating expenses in the consolidated statement of income.

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RELATED-PARTY TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2012

Related Party Transactions [Abstract]

Schedule of Related Party Transactions

We have purchased the following amounts of products and services from the supplier:

	Three Months Ended				Six Months Ended
(In thousands)	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
Purchases from related-party supplier	$	3,960	$	4,686	$	8,524	$	8,910

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EQUITY (Textuals) (Details)	3 Months Ended	6 Months Ended	12 Months Ended					6 Months Ended			6 Months Ended
	Jun. 30, 2012	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2012 Last Business Day of September 2014 [Member] Put Option [Member]	Jun. 30, 2012 Last Business Day of September 2015 [Member] Put Option [Member]	Jun. 30, 2012 Last Business Day of September 2016 [Member] Put Option [Member]	Jun. 30, 2012 Last Business Day of September 2017 [Member] Put Option [Member]	Jun. 30, 2012 Common Class A [Member] votes	Jun. 21, 2012 Common Class A [Member]	Jun. 20, 2012 Common Class A [Member]	Jun. 30, 2012 Common Class B [Member] votes	Jun. 21, 2012 Common Class B [Member]	Jun. 20, 2012 Common Class B [Member]	Jun. 21, 2012 Common Class C [Member]	Jun. 20, 2012 Common Class C [Member]
Class of Stock [Line Items]
Common stock, shares authorized	785,000,000	785,000,000	679,178,000						500,000,000	360,000,000		275,000,000	309,178,636	10,000,000	10,000,000
Common stock, votes per share								1			10
Stock repurchased, shares	0	0	1,233,397
Percentage of securities authorized for repurchase at shareholder's request under Put Agreement				25.00%	25.00%	25.00%	25.00%

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BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2012

BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Principles of Consolidation

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of Globus and its wholly owned subsidiaries. Our consolidation policy requires the consolidation of entities where a controlling financial interest is held as well as the consolidation of variable interest entities in which we are the primary beneficiary. All intercompany balances and transactions are eliminated in consolidation.

Use of Estimates

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates, in part, on historical experience that management believes to be reasonable under the circumstances. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary.

Significant areas that require management’s estimates include intangible assets, contingent payment liabilities, allowance for doubtful accounts, stock-based compensation, provision for excess and obsolete inventory, useful lives of assets, the outcome of litigation, and income taxes. We are subject to risks and uncertainties due to changes in the healthcare environment, regulatory oversight, competition, and legislation that may cause actual results to differ from estimated results.

Inventories

Inventories

Inventories are stated at the lower of cost or market. Cost is determined on a first-in, first-out basis. The majority of our inventories are finished goods as we mainly utilize third-party suppliers to source our products. We periodically evaluate the carrying value of our inventories in relation to our estimated forecast of product demand, which takes into consideration the estimated life cycle of product releases. When quantities on hand exceed estimated sales forecasts, we record a reserve for such excess inventories.

Revenue Recognition

Revenue Recognition

Revenue is recognized when persuasive evidence of an arrangement exists, product delivery has occurred, pricing is fixed or determinable, and collection is reasonably assured. A significant portion of our revenue is generated from consigned inventory maintained at hospitals or with sales representatives. For these products, revenue is recognized at the time the product is used or implanted. For all other transactions, we recognize revenue when title to the goods and risk of loss transfer to customers, provided there are no remaining performance obligations that will affect the customer’s final acceptance of the sale. Our policy is to classify shipping and handling costs billed to customers as sales and the related expenses as cost of goods sold.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

Effective January 1, 2012, we adopted Financial Accounting Standards Board (“FASB”) authoritative guidance that amends previous guidance for the presentation of comprehensive income. The new standard eliminates the option to present other comprehensive income in the statement of changes in equity. Under the revised guidance, an entity has the option to present the components of net income and other comprehensive income in either a single continuous statement of comprehensive income or in two separate but consecutive financial statements. We are providing two separate but consecutive financial statements. The new standard was required to be applied retroactively. Other than the change in presentation, the adoption of the new standard did not have an impact on our financial position or results of operations.  

Effective January 1, 2012, we adopted FASB authoritative guidance that amends previous guidance for fair value measurement and disclosure requirements. The revised guidance changes certain fair value measurement principles, clarifies the application of existing fair value measurements and expands the disclosure requirements, particularly for Level 3 fair value measurements. Adoption of the amendments did not have a material impact on our financial position or results of operations.