Swiss medical device maker Medacta Group is reportedly on track for an initial public offering during the second quarter.
The company would issue a limited amount of shares into public trading, maintaining the founding Siccardi family’s control intact, according to Reuters. The IPO would also include an over-allotment option, the newswire reported. Rumors of the transaction first aired last fall.
The orthopedic implant maker, which employs 930 people, posted €273 million ($307 million) in sales last year; adjusted earnings before interest, taxes, depreciation & amortization were 32% of sales.
“We believe the planned IPO will allow us to further increase awareness and visibility of Medacta and facilitate access to international talent,” CEO Francesco Siccardi told the news service.
Credit Suisse and Morgan Stanley joint boo-runners for the deal, with Rothschild as financial adviser.