Medacta plans IPO in Q2

11.03.2019 08:24

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Medacta Group SA, a high-growth, pure play orthopaedics company, today announces its intention to launch an Initial Public Offering (the “IPO”) and list its shares on SIX Swiss Exchange. Medacta based in Ticino was founded in 1999 by Alberto Siccardi and is fully owned by the Siccardi family.

Medacta has grown consistently and considerably in the 20 years since its foundation, largely driven by its innovative product offering and its unique education platform. The foundation of Medacta’s business has been its activities in the Hip and Knee business lines, where the Company has an established presence. More recently, Medacta started to leverage its experience gained from its successful Hip and Knee business models to develop new products and surgical techniques in its new Spine, Shoulder and Sportsmed business lines. Medacta believes that the market offers room to grow organically in all market segments through increased market penetration, the addition of new markets as well as new products and surgical techniques.

Strong financial performance

Today, Medacta has a direct presence in 12 countries, including the USA, Australia, Japan and various European countries and distributors in 20 additional countries and has a workforce of close to 1000 employees. Medacta’s product mix and strong geographic diversification enabled the company to be one of the fastest growing orthopaedic companies in 2018, as demonstrated by Medacta’s constant currency revenue CAGR of 14% between 2016 and 2018. In 2018, Medacta achieved revenues of €273 million and an adjusted EBITDA of €88 million, corresponding to an adjusted EBITDA2 margin of 32%.

IPO to increase visibility

The planned IPO is expected to consist of a secondary offering only, with the Siccardi family remaining fully committed to the Company and retaining a majority shareholding post IPO. In addition, an over-allotment option is expected to be granted on existing shares. Francesco Siccardi, CEO said: “We believe now is the right time to offer shares to the public, seek a listing and broaden our shareholder base. We believe the planned IPO will allow us to further increase awareness and visibility of Medacta and facilitate access to international talent. Our family and myself will remain strong majority shareholders in the long term and remain fully committed to Medacta and its patient-centred and innovative culture.”

(Press release)

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