Biomet, which makes orthopedic devices, has filed for an IPO. The deal is likely to find lots of buyers, because the market has perked up for medical deals — as seen with Surgical Care Affiliates (SCAI), Quintiles (Q) and Envision Healthcare (EVHC). Source: Flickr
Founded in the late 1970s, Biomet is a top player in its space. Some of its products include orthopedic joint replacement devices, bone cements and accessories, dental reconstructive implants, electrical bone growth stimulators and spinal products.
And yes, the growth has been fairly steady, which should boost the fortunes of a Biomet IPO. For the six months ended Nov. 30th, revenues went from $1.5 billion to $1.56 billion while net income swung from a loss of $97.7 million to a gain of $36 million. Read