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Private equity-backed Biomet hires underwriters for IPO

27 Feb 2014

shares stocks IPOPrivate equity-backed medical device maker Biomet is reportedly set to go public later this year.

Biomet, which was taken private by Blackstone, Goldman Sachs, KKR and TPG in an $11.4bn deal in 2007, has hired Bank of America Merrill Lynch, Goldman Sachs and JPMorgan Chase as underwriters for the IPO, said Reuters, citing people familiar with the matter.

The IPO could take place in the first half of 2014 and raise more than $1bn, said the sources.

Back in 2012 Biomet, which is focused on the orthopaedic and musculoskeletal product industry, paid $22m in charges to settle allegations that it bribed doctors in Argentina, Brazil, and China for nearly a decade to win business.

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