PE-Backed Biomet Plans $100M IPO To Trim Debt

Law360, New York (March 7, 2014, 1:50 PM EST) -- Private equity-backed medical device company Biomet Inc. is looking to raise $100 million in an initial public offering and plans to use the proceeds to reduce "outstanding indebtedness," according to documents filed Friday with the U.S. Securities and Exchange Commission.

Indiana-based Biomet has not yet determined the number of shares to be offered and the price range for the proposed offering, according to a statement. The medical device maker's parent company, LVB Acquisition Inc., made the SEC filing.

According to its second-quarter earnings report, which was released...
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