A spine company IPO? Well, stranger things have happened. Globus Medical Inc. filed for an initial public offering of stock last month, [See Deal] making it the first spine company to test the public markets since TranS1 Inc. raised $86 million in its own IPO at the tail end of 2007. [See Deal] The public markets aren’t typically open to spine companies. Over the past 10 years, only four companies with an exclusive spine focus managed to go public: Kyphon Inc. (before it was bought by Medtronic PLC) [See Deal], NuVasive Inc., [See Deal]Alphatec Holdings Inc., [See Deal] and TranS1 have successfully found a way onto the public markets. So Globus’ effort is definitely noteworthy.
The filing isn’t a surprise. If anything, Globus expected – and had encouraged expectations – that it would go public...