GLOBUS MEDICAL, INC. (NYSE:GMED) Files An 8-K Changes in Registrant’s Certifying Accountant
Item 4.01 Changes in Registrants Certifying Accountant.
approval of the Audit Committee of the Companys Board of
Directors, dismissed Grant Thornton LLP (GT) as the Companys
independent registered public accounting firm.
31, 2016 and December 31, 2015 and during the subsequent interim
period from January 1, 2017 through April 17, 2017, (i) there
were no disagreements with GT on any matter of accounting
principles or practices, financial statement disclosure or
auditing scope or procedures that, if not resolved to GTs
satisfaction, would have caused GT to make reference to the
subject matter of the disagreement in connection with its reports
and (ii) there were no reportable events as defined in Item
304(a)(1)(v) of Regulation S-K, except as noted below.
of the Company for each of the two most recent fiscal years ended
December 31, 2016 and December 31, 2015 did not contain an
adverse opinion or a disclaimer of opinion and were not qualified
or modified as to uncertainty, audit scope or accounting
principles. The audit report of GT on the Companys internal
control over financial reporting for the year ended December 31,
2016 contained an adverse opinion on the effectiveness of
internal control over financial reporting because of a
self-identified material weakness in the Companys internal
controls as they related to non-cash activities in depreciation,
as more fully described in Item 9A of the Companys Annual Report
on Form 10-K for the fiscal year ended December 31, 2016, and in
the audit report of GT. There were no disagreements with GT about
this self-identified material weakness.
Form 8-K prior to its filing with the Securities and Exchange
Commission (SEC) and requested that GT furnish it with a letter
addressed to the SEC stating whether it agrees with the above
statements in Item 4.01(a). A copy of GTs letter, dated April 18,
2017, is filed as Exhibit 16.1 to this Current Report on Form
8-K.
Firm.
Touche LLP (Deloitte) as the Companys independent registered
public accounting firm for the year ending December 31, 2017.
and December 31, 2015 and during the subsequent interim period
from January 1, 2017 through April 17, 2017, neither the Company
nor anyone on its behalf consulted Deloitte regarding either (i)
the application of accounting principles to a specified
transaction, either completed or proposed, or the type of audit
opinion that might be rendered on the Companys financial
statements, and neither a written report nor oral advice was
provided to the Company that was an important factor considered
by the Company in reaching a decision as to any accounting,
auditing or financial reporting issue, or (ii) any matter that
was either the subject of a disagreement or a reportable event,
each as defined in Regulation S-K Item 304(a)(1)(v),
respectively.
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Exhibit No.
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Description
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16.1
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Letter from Grant Thornton LLP, dated April 18, 2017 to
the Securities and Exchange Commission. |
About GLOBUS MEDICAL, INC. (NYSE:GMED)
Globus Medical, Inc. is a medical device company. The Company is focused on developing products for patients with musculoskeletal disorders. It is focused on products to treat patients with spine disorders. The Company’s products fall under categories, which include Innovative Fusion and Disruptive Technologies. The Innovative Fusion category products include fusion products to treat spinal disorders for the entire spine, and they can be used in various surgical approaches. The Disruptive Technologies category represents a shift in the treatment of spinal disorders by allowing for surgical procedures and the treatment of spinal disorders. QUARTEX is its Occipito-Cervico-Thoracic (OCT) stabilization system. QUARTEX features a threading locking cap to enable low-torque. The Company’s portfolio of approved and pipeline Disruptive Technology products includes products that allow for minimally invasive surgical (MIS) techniques. GLOBUS MEDICAL, INC. (NYSE:GMED) Recent Trading Information
GLOBUS MEDICAL, INC. (NYSE:GMED) closed its last trading session down -0.23 at 30.42 with 508,999 shares trading hands.
