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Biomet files $100 million IPO

 (Image source: yourlawyer.com)

Biomet Inc., a U.S. medical device maker has filed an initial public offering and intends to raise $100 million from the offering. Biomet most produces orthopedic products. For fiscal year 2013, Biomet generated $3.1 billion in sales. The company intends to use the funds to pay off some debts related to its buyout in 2007. In 2007, Biomet was taken private by a host of private equity firms. Currently, the company has a debt of $5.9 billion. No disclosure was released about which exchange the company intends to list on, but the company will trade under the symbol “BMET”.