Quarton advises Medartis on its IPO on SIX Swiss Exchange


Quarton International exclusively advised Medartis and its board of directors on its IPO on SIX Swiss Exchange and the previous pre-IPO financing.

Overview of Transactions

  • Medartis completed its IPO on March 23, 2018 at the SIX Swiss Exchange; the stock trades under the ticker symbol “MED”
  • The IPO volume amounts to CHF 142.6m (incl. greenshoe), consisting of primary shares only
  • In parallel to the IPO, Medartis issued new shares to the creditors of convertible loans taken out in December 2017 in the amount of CHF 59m to redeem original shareholder loans
  • The market capitalization at the IPO amounts to CHF 563m
  • Proceeds from the IPO will be used for financing international commercialization, developing the product portfolio, potential acquisitions and other investments
  • Underwriters for the IPO were Zürcher Kantonalbank and Bryan, Garnier & Co as well as Kepler Cheuvreux, as Co-Manager; Vischer was acting as legal counsel to the issuer, with Davis Polk assisting in matters pertaining to US securities law and Walder Wyss was acting as legal counsel to the underwriters

Significance of Transactions

  • Roadshow and offering were met with great interest of major institutional investors, both generalists (asset managers, investment funds) and healthcare specialists, as well as in Europe as the USA (Rule 144A)
  • With a complete offer subscription on the first day and a multiple oversubscription at the end of the 8th and last day of the short subscription period, the IPO was extremely successful
  • With a post money valuation of CHF 563m, Medartis could achieve an attractive valuation
  • The pre-IPO financing round supported by Quarton was already met with great interest from major institutional investors. It was finally closed by Schroder & Co Bank AG, Landolt & Cie SA and Endeavour Medtech Growth LP.

Quarton International

  • served as exclusive financial and IPO advisor to Medartis and its Board of Directors
  • orchestrated and supported the IPO process
  • developed a comprehensive set of management and financial materials to showcase Medartis’ offering to potential underwriters
  • also led the pre-IPO financing transaction, the issuance of convertible loans in December 2017, consummated with the conversion into shares in parallel to the IPO


  • Medartis was founded in 1997 by its today’s administrative chairman Dr. h.c. Thomas Straumann, who also established dental implants market leader Straumann Group in its current form, following the spin-off of the osteosynthesis division (Synthes) in 1990
  • Following the completion of the IPO, Thomas Straumann will remain the main shareholder
  • Headquartered in Basel, Switzerland, Medartis is one of the world’s leading manufacturers and providers of medical devices for surgical fixation of bone fractures and osteotomies for the craniofacial region as well as for upper and lower extremities. Medartis employs over 480 individuals across its 11 locations, and Medartis products are sold in 44 countries globally. For patients’ welfare, Medartis is committed to providing surgeons and operating theatre personnel with the most innovative titanium implants and instruments as well as best in class services that represent advances in osteosynthesis.


Zürcher Kantonalbank (or ZKB) is the largest cantonal bank and fourth largest bank in Switzerland, as well as the leading financial services provider in the Greater Zurich, with total assets of over CHF 150bn. ZKB, as an independent, incorporated public-law institution, is wholly owned by the Canton of Zurich.

Bryan, Garnier & Co. GmbH is an investment bank that specializes in European growth companies. The company caters to corporations, venture capitalists, institutional investors, and private clients through asset management, corporate finance, sales, and trading. The company’s corporate finance practice includes private equity placements, initial public offerings, and mergers and acquisitions.

Kepler Cheuvreux SA, an independent European financial services company, specializes in advisory services and intermediation to the investment management industry. It provides equity research, sales, sales trading, trading, ETFs, and corporate brokerage to global institutional investors; and provides research and execution services to the retail networks of the Crédit Agricole Group.



Lars Veit


Konstantin Schönborn

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