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Biomet Inc.
exitedHealthcare / Medical Devices — Blackstone / Goldman / KKR / TPG
Deal Terms
Entry Year2007
Entry EV$11.3B
Entry Multiple12x
Leverage5.5x
Debt Amount$6.2B
Outcome
Exit Year2015
Risk Metrics
LTV (est.)55%
Debt / EV0.55x
Notes
$11.3B PE consortium LBO of orthopedic implant maker. Founder Dane Miller orchestrated the deal. Seven years under PE ownership with significant debt service. Zimmer acquired for $13.4B (2015). PE sponsors made billions — clean exit. But DOJ investigation for foreign bribery (paid $56M settlement) during PE ownership.
Sponsor
Blackstone$1270B AUM