Swiss medical device maker Medacta valued at $1.9 billion in IPO

ZURICH, APRIL 3, 2019–(Reuters)–Medacta Group SA priced its flotation at 96 Swiss francs per share, giving the Swiss medical device maker a market capitalization of 1.92 billion Swiss francs ($1.92 billion) at its stock market debut on Thursday.

The price implied an offer size of 547 million francs in the base offering. The founding Siccardi family offered 5.7 million existing shares in the secondary offering and will retain control of the company which develops and manufactures orthopedic implants for knees and spines.

Medacta’s shares will start trading on the SIX Swiss Exchange.

The joint global coordinators have been granted an over-allotment option of up to 855,000 existing shares, equivalent to up to 15 percent of the base offer size.

The free float of Medacta amounts to 28.5 percent before exercise of the over-allotment option and 32.8 percent if the over-allotment option is exercised in full.

Medacta, which employs 930 people, generated revenue of 273 million euros ($307 million) in 2018 with adjusted earnings before interest, tax, depreciation and amortization about 32 percent of sales.

Its stock market debut is the first IPO in Switzerland this year after 12 companies listed in 2018. There are other Swiss share sales in the works, with trainmaker Stadler also planning a listing.

Credit Suisse and Morgan Stanley are joint global coordinators for Medacta’s IPO. JP Morgan and UBS Investment Bank are joint bookrunners. Rothschild is independent financial adviser to Medacta.

Reporting by John Revill; Editing by Michelle Martin and Michael Shields

About Peter Coffaro 474 Articles
A growth-driven and strategic executive, Peter Coffaro commands more than 25 years of progressive management success within the medical device industry. Recognized by the World Journal of Orthopedics, Exponential Healthtech, and as one of the top medical sales influencers in the industry; he has 10 years of combined sales management experience and has held positions as a Director, General Manager, Distributor, and Vice President. Peter has worked for some of the top orthopedic companies in the world - Zimmer, DePuy, and Stryker. He is also the founder of OrthoFeed: a popular blog that covers digital orthopedic news and emerging medical technologies. Peter is a three-time Hall of Fame award winner at Johnson and Johnson and has an extensive background in organizational development, business development, sales management, digital marketing, and professional education. Peter holds a B.S. degree in Biology and Chemistry from Northern Illinois University.

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