• IPO could come in first half
• Expected to raise more than $1 bln
• Company was taken private for $11.4 bln in 2007
Biomet’s owners – Blackstone Group LP, Goldman Sachs Group Inc’s private equity arm, KKR & Co LP and TPG Capital LP – have selected Bank of America Merrill Lynch, Goldman Sachs Group and JPMorgan Chase & Co to lead the IPO, the people said.
The offering could come in the first half of 2014 and raise more than $1 billion, the people said; they asked not to be identified because the matter is not public.
Blackstone and Biomet did not immediately respond to requests for comment. Representatives for TPG, KKR and the banks declined to comment.
Founded in 1977, and based in Warsaw, Indiana, Biomet designs, manufacturers and markets products that include dental implants and artificial hips joints. Biomet competes with Smith & Nephew PLC and Stryker Corp.
Olivia Oran and Soyoung Kim are reporters for Reuters in New York.