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Product / Company Performance

Medacta Group SA Prices IPO at CHF 96 (USD $96.1) Per Share -

In March 2019, Medacta, a Swiss orthopedics company with 2018 total revenue of €273MM (USD $306.3MM), announced its intention to launch an initial public offering and list shares on SIX Swiss Exchange under the ticker symbol MOVE. On April 4, 2019 they successfully priced the IPO at CHF 96 (USD $96.1) per share. Settlement of the IPO is expected to occur on April 8, 2019.

The company-founding Siccardi family will keep around two-thirds of Medacta’s share capital while offering 5.7 million shares, implying a base offer starting at CHF 547MM (USD $547.8MM), depending upon over-allotment shares, and a market capitalization of CHF 1.92 billion (USD $1.92 billion).

Credit Suisse and Morgan Stanley are Joint Global Coordinators for the IPO and were granted an over-allotment option of up to 855,000 shares, roughly 15% of the base offer size, to be exercised 30 days after the first trading day. JP Morgan, UBS Investment Bank and Rothschild & Co. were also involved in the IPO.

Medacta was founded in 1999 and primarily serves the hip and knee replacement markets, with a growing business in spine and sports medicine. The company markets its products through a direct presence in 12 countries and distributors in an additional 20 countries.

In 2018, Medacta achieved total revenue of $306.3MM, +11.4% vs. 2017 and appointed a new CEO, Francesco Siccardi.

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