GMED

What You Should Know

Globus Medical, Inc. is a publicly-traded musculoskeletal-solutions company that develops and commercializes implantable medical devices, surgical instruments, robotics, and enabling technology used in spine, orthopedic-trauma, and related procedures, having expanded its portfolio and scale through its merger with NuVasive. Medical-device manufacturing, implantable-device development, and surgical-robotics and enabling-technology development are general-purpose healthcare and medical-device activities that are unambiguously permissible — and indeed beneficial — at the activity level under standard Sharia methodology. The financial screen passes comfortably: following the repayment of the debt assumed in the NuVasive merger, Globus operates a debt-free, net-cash balance sheet with a large cash-and-investments position and is generating strong positive free cash flow, so the debt-to-market-cap ratio sits effectively at zero, well below the 33% Sharia threshold. Most major Sharia advisory boards classify Globus Medical as permissible with purification of small interest-income components.