Spinal surgery devices maker K2M Group Holdings hopes to raise as much as $100 million through its impending initial public offering, according to registration documents filed with the SEC.
Leesburg, Va.-based K2M Group Holdings announced today that it confidentially filed registration statements to launch an initial public offering of its common stock.
K2M, long the largest private spine implant company, did not provide details on potential timing, but said that the number of shares and price range for stock has yet to be determined.
Revenues in the spine industry have been flat for several years now, with the largest players in the space reporting declines or low-single-digit growth.
Dr. Richard Gilfillan, the 1st leader of the recently-created Center for Medicare & Medicaid Services Innovation Center, will hand over the reigns at the end of the month, and no replacement has yet been named.