Swiss medical device manufacturer Medacta intends to IPO on the SIX Swiss Exchange before the summer.
Founded in 1999, Medacta is an international orthopaedics company which specialises in the design and production of orthopaedic products and the development of accompanying surgical techniques, supported by a strong education platform.
It generated total revenues of €273 million (US$307 million) last year with an adjusted EBITDA of €88 million and an EBITDA margin of 32%.
The company’s revenues are mostly derived from the high-volume hip and knee business lines which generated 56% and 35% of revenues last year.
“We believe now is the right time to offer shares to the public, seek a listing and broaden our shareholder base,” said chief executive Francesco Siccardi. “We believe the planned IPO will allow us to further increase awareness and visibility of Medacta and facilitate access to international talent.”
Founded in 1999 by Alberto Siccardi and fully owned by the Siccardi family, the group is headquartered in Castel San Pietro and Rancate, Switzerland, and employs approximately 970 people.
The IPO expected to consist of secondary shares only. The Siccardi family has said that will remain fully committed and retain a majority shareholding post IPO
The company says that it expects to float by the end of the second quarter of 2019.
Credit Suisse and Morgan Stanley have been appointed as joint global coordinators with JP Morgan and UBS as joint bookrunners. Rothschild is acting as independent financial adviser to Medacta on the IPO.