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Medacta prepares for IPO: Reuters
Posted on Tuesday, 06 November 2018 14:43
Swiss orthopaedic implant developer Medacta has hired four advisors to handle an upcoming float on the SIX Swiss Exchange slated for early next year, sources told Reuters.
The people close to the process told the news provider that Credit Suisse, JP Morgan, Morgan Stanley, and UBS are leading the first-time share sale, which is likely to comprise just a minority stake.
A possible upcoming IPO comes after domestic rival Medartis went public on the bourse in March with a valuation of CHF 563.00 million (EUR 491.90 million).
However, according to sources, Medacta could potentially fetch a considerably higher sum, based on its annual sales which generate around CHF 300.00 million, Reuters observed.
Formed in 1999, the company specialises in the development and manufacturing of orthopaedic implants for patients who require joint replacements and spinal surgery.
It has currently carried out over 400,000 procedures, and has a worldwide presence with sites in Germany, Spain, Australia, the US, Israel, and Vietnam, among others.
Earlier this month, the company bought Balgrist, an expert centre for computer assisted research and development of surgical treatments, for an undisclosed sum.
Medacta did not provide a statement and the banks involved with the listing declined to comment when approached by the news provider.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 197 IPO’s announced in Western Europe since the beginning of 2018.
In the largest of these, German-based healthcare software developer holding company Siemens Healthineers achieved EUR 4.20 billion on the Frankfurt Stock Exchange in March.
Other companies floated this year in this region include Knorr-Bremse, SIG Combibloc Group, DWS Group and Aston Martin Lagonda Global Holdings.
Reuters notes however, citing a source close to Medacta’s proposed offering, that the Swiss stock exchange is likely to come to a halt next year, following ten new listings so far in 2018, which included six IPOs.
The source added that due to a changeable market, investors are becoming more selective regarding listings, preferring to pursue companies with secure business models.
© Zephus Ltd