DOW JONES NEWSWIRES
Medical device maker Globus Medical Inc. filed plans to raise up to $100 million in an initial public offering, citing a desire to create a public market for its stock.
Globus Medical, formed in 2003, focuses exclusively on the design, development and commercialization of products for patients with spine disorders.
The company has been steadily increasing its sales, booking a 15% jump last year. Profit for the year rose 12% to $60.8 million.
The company plans to list its Class A common stock on the New York Stock Exchange under the symbol GMED.
-By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.co
