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Medical device maker Medartis plans Swiss IPO


Medical device maker Medartis plans Swiss IPO

ZURICH: Medartis Holding AG, a medical device maker specializing in surgical bone repairs, plans to sell shares in an initial public offering (IPO) on the SIX Swiss Exchange in the first half of 2018, it said.

Medartis, whose products are sold in 44 countries, had sales of 105 million Swiss francs ($112 million) and operational EBITDA of 19 million in 2017.

“The planned IPO on the SIX Swiss Exchange will provide funds to finance Medartis’s growth and further raise its profile amongst surgeons and other stakeholders around the world,” it said in a statement.

Zuercher Kantonalbank and Bryan, Garnier & Co are joint book runners of the IPO and Kepler Cheuvreux is the co-manager.

Vischer AG is legal counsel to the issuer and Davis Polk is advising on U.S. securities law. Walder Wyss is advising the underwriters, while Quarton International is financial adviser to the company.

($1 = 0.9367 Swiss francs)

(Reporting by Michael Shields; Editing by Amrutha Gayathri)



Source: REUTERS
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