Is Biomet Next to Form IPO? Featured

Written by  Ellie Rizzo | Friday, 14 February 2014 16:08
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Warsaw, Ind.-based Biomet, an orthopedic device manufacturer, appears to be in talks with banks about forming an initial public offering, according to a report from the Wall Street Journal.

The company was taken private in 2007 for $11.3 billion by Blackstone Group, DDR & Co., TPG and Goldman Sachs Group, with each company contributing $1.3 billion and the rest covered with new debt, $5.9 billion of which is still on Biomet's balance sheets, according to securities filings.


Biomet is currently seeking underwriters for an IPO that will raise approximately $1 billion for its return to being publically traded. Recently, other companies returning to public trading after being taken private before the 2008 financial crisis have been popular with investors, despite carrying large debt loads, according to the report.


For the quarter ending Nov. 30, Biomet posted a profit and higher sales, with knee device sales up 6.6 percent and hip sales up 2.3 percent, according to a company statement.

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Last modified on Friday, 14 February 2014 16:13
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