ConforMIS today unveiled plans for an initial public offering worth up to $172.5 million, saying it plans to file for FDA approval of its customized hip implant this year.
Bedford, Mass.-based ConforMIS said it plans to trade on the NASDAQ exchange under the CFMS symbol. The company originally filed confidentially March 20, according to the SEC.
"We expect to submit an application for clearance of iTotal Hip, our 1st customized hip replacement implant, to the U.S. Food & Drug Administration, or FDA, in 2015," ConforMIS said.
J.P. Morgan and Deutsche Bank are the joint bookrunners on the deal.
ConforMIS said it employs 86 sales reps in the U.S., Germany and the U.K. The company reported sales of $48.2 million last year, a 39% increase over 2013, and said 1st-quarter revenues were $14.7 million, up 36% over Q1 2014.