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

April 4, 2019 Medical Devices, Orthopedics

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

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Peter Coffaro is a growth-driven and strategic executive with over 25 years of progressive management success in the medical device industry. With a proven track record and recognized expertise, Peter has established himself as one of the top influencers in medical sales, as acknowledged by prestigious publications such as the World Journal of Orthopedics, Exponential Healthtech, and MedReps.com. Throughout his career, Peter has accumulated 10 years of combined sales management experience, excelling in various roles including Director, General Manager, Distributor, and Vice President. He has worked for industry-leading orthopedic companies such as Zimmer, DePuy, and Stryker, solidifying his deep knowledge and network within the field. Peter’s passion for innovation and emerging technologies led him to found OrthoFeed, an award-winning blog covering digital orthopedic news and emerging medical technologies. Through this platform, he stays at the forefront of the industry and contributes to the dissemination of valuable insights. Peter is a three-time Hall of Fame award winner at Johnson and Johnson, demonstrating his exceptional contributions and impact on the organization. His expertise extends to areas such as organizational development, business development, sales management, digital marketing, and professional education. Peter earned a B.S. degree in Biology and Chemistry from Northern Illinois University, further complementing his comprehensive understanding of the medical field. With his wealth of experience, strategic mindset, and dedication to advancing healthcare, Peter Coffaro is a valuable asset and leader in the medical device industry.