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Medartis Raises $151MM in Initial Public Offering

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Medartis raised gross proceeds of CHF 123.9MM and CHF 142.6MM, including an over-allotment of shares, in its IPO. (These figures translate to ~US $131.2MM and ~$151.0MM, respectively.) Funds will support the company's strategic growth initiatives.

The company is trading on the SIX Swiss Exchange under the symbol MED as of 3/23/18. With this filing, Medartis reported 2017 revenue of CHF 105.0MM (~$111.1MM), +14% vs. 2016.

Growth initiatives include international expansion and product development, as well as potential acquisitions and general corporate purposes.

Medartis was founded in 1997 and is headquartered in Basel, Switzerland. Its products, devices for fixation in the extremities and craniomaxillofacial regions, are marketed in 44 countries including Australia, Brazil, France, Germany, Japan, Switzerland, the U.K. and the U.S., with the EMEA and APAC regions generating key growth contributions. All products are manufactured in-house.

Sources: Medartis; Reuters, SIX Swiss Exchange