Biomet parent company files for initial public offering

Biomet Inc. announced today that LVB Acquisition Inc., its parent company, has filed paperwork with the Securities and Exchange Commission for a proposed initial public offering of its common stock. LVB Acquisition will also be rebranded as Biomet Group Inc.

While the offering is not effective yet, according to a company press release, Bank of America Merrill Lynch, Goldman, Sachs & Co., J.P. Morgan, Citigroup, Wells Fargo Securities, Barclays and Morgan Stanley are acting as the joint book-running managers for the offering. Biomet plans to use the net proceeds of the initial public offering primarily to reduce outstanding indebtedness.

The number of shares offered and price range of the shares has not been determined, according to the release.