LDR Holding is the parent company of LDR Medical, which develops, produces and markets spinal implant devices.
R Capital, which is part of the Rothschild Group, will remain the largest shareholder following the IPO.
The company rallied on its first day of trading on the Nasdaq exchange after raising $75m via its IPO.
LDR was founded in Troyes in 2000 by Christophe Lavigne, Hervé Dinville and Patrick Richard. The listing will help to finance the production and marketing of its new and product, which received approval from the Food and Drug Administration (FDA) last August.
R Capital Management has supported the company’s development over the last few years and has assisted it throughout its expansion in the US, where it now generates two thirds of its revenues. Over six years, LDR’s revenue has grown from $10m to $91m in 2012.
Pierre Rémy, managing partner of R Capital, said, “We are proud to have assisted LDR in its growth strategy for several years. The success of this IPO is the result of working closely alongside a visionary management unit and very talented teams, leading up to obtaining an FDA approval this summer for the artificial disc developed by LDR. This marks the start of a new phase for the company, and we are very confident in the ability of LDR to continue its strong development.”
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