Biomet

Price range: North of $12 billion

The scoop: A cadre of private equity outfits took Biomet off the public market for $11.4 billion back in 2007, and now word is they're ready to hand it back. The Indiana orthopedics giant has soared since buying DePuy's former trauma unit last year, growing 7.6% to $3.1 billion in sales in fiscal 2013. Like most makers of large-joint reconstructive devices, Biomet is facing flattening sales for hip and knee implants, but CEO Jeffrey Binder, he of blog fame, said his company has a plan to outgrow its market, rolling out innovative products and expanding into new territories. Meanwhile, rumor has it owners KKR, Blackstone, TPG Capital and Goldman Sachs are considering the ever-popular dual track for Biomet, in which they'd file for an IPO while listening to buyout offers in an effort to get the best valuation.

Who wants it? It seems unlikely a competitor like Stryker ($SYK) or Zimmer ($ZMH) would pony up for Biomet, as consolidating that much orthopedic heft could spark antitrust concerns. And then there's the cost: Back when Biomet went for $11.4 billion, its annual revenue was about two-thirds of what it is now, meaning any serious offer would need to exceed that by a fair amount. More likely is another leveraged buyout, with Biomet's current crop of private equity owners shifting the company to peers.

For more:
Biomet boosts profits, sales as buyout rumors linger
Biomet could be next on the billion-dollar block
Biomet ditches plans to spin out dental biz

Biomet
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