Reuters: Biomet eyes $1B+ IPO

Medical-device maker Biomet has hired underwriters to help carry out an IPO that could take place in H1 and raise over $1B, Reuters reports.

The listing could come seven years after Biomet was taken private for $11.4B. Its owners are Blackstone (BX), Goldman Sachs' (GS) private-equity arm, KKR (KKR) and TPG Capital.

Biomet's adjusted net profit rose 46% to $368M in FY 2013 as revenue increased 8% to $3B. The company's products include dental implants and artificial hip joints.

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