Biomet Considering Public Ownership
July 28, 2016 at 4:25 p.m.
By Staff Report-
The orthopedic company plans to interview banks late this month and select underwriters for an initial public offering that could raise about $1 billion, people familiar with the plans told the Wall Street Journal. No banks have been hired yet.
Biomet went private in 2007 after it was purchased by Blackstone Group, KKR and Co., TPG and Goldman Sachs Group Inc. for about $11.3 billion.
Biomet still carries much of that buyout debt on its balance sheet, according to the article, saying last month that its debt was about $5.9 billion as of Nov. 30.
But Biomet also reported a profit of $4.9 million for the financial quarter ended Nov. 30, compared with a loss of $66.2 million the previous year.[[In-content Ad]]
The orthopedic company plans to interview banks late this month and select underwriters for an initial public offering that could raise about $1 billion, people familiar with the plans told the Wall Street Journal. No banks have been hired yet.
Biomet went private in 2007 after it was purchased by Blackstone Group, KKR and Co., TPG and Goldman Sachs Group Inc. for about $11.3 billion.
Biomet still carries much of that buyout debt on its balance sheet, according to the article, saying last month that its debt was about $5.9 billion as of Nov. 30.
But Biomet also reported a profit of $4.9 million for the financial quarter ended Nov. 30, compared with a loss of $66.2 million the previous year.[[In-content Ad]]
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