Tornier Rolls Out Plans for IPO

It hasn’t been the healthiest of markets for initial public offerings (IPO). Wall Street analysts most likely would accept that as an axiom. Though, given the number of recent acquisitions and a few IPOs in recent months, things may be turning around. With hopes of financial blue skies ahead, medical technology company Tornier Inc. recently announced plans for an IPO worth approximately $205 million, according to documents files with the Securities and Exchange Commission.

Though the orthopedics firm is based in Edina, Minn., it has European roots, founded in France more than 70 years ago by Rene Tornier. The company was purchased by a group of private equity investors. Warburg Pincus is Tornier’s largest shareholder at the moment, owning roughly 63 percent of the company.

Tornier primarily has focused on the extremity and small-joint market. The company is one of the largest manufacturers of shoulder joint replacement products, as well as a leading producer of foot and ankle joint replacements. The company also has focused much of its recent research and development efforts on orthobiologics.

Tornier employs approximately 800 worldwide, with about a quarter located in the United States. The firm reported sales for fiscal 2009 of $202 million.