Swiss medtech company Medacta is preparing for an initial public offering on the SIX Swiss Exchange for next spring, according to a Reuters report.
The deal is being led by Credit Suisse and Morgan Stanley and joined by JP Morgan and UBS, three people familiar with the matter told Reuters.
Neither the company or the banks indicated in the deal have commented on the matter, according to the report.
Medacta pulls in annual sales of approximately $300 million, and is likely to float a minority stake initially, Reuters reports. The company employs around 930 people and develops orthopedic devices for the knee and spinal market.
Last month, Medacta said that it moved current exec VP Francesco Siccardi to the corner office, taking over the CEO role from founder Dr. Alberto Siccardi, who remained as board president, as of November 1.
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