Montagu lines up €2bn BSN Medical IPO

The potential flotation is undecided as strategic buyers such as 3M and Kimberly Clarke, and private equity groups such as Apax Partners and Bain Capital are likely to be interested, the report said. If Montagu can raise more money from an interested party it may choose not to list the company.

Montagu originally put BSN up for sale 18 months ago but the auction was annulled due to the financial crises.

With debt markets thawing, rival private equity firms are said to be looking at IPO candidates as targets for acquisition.

According to the report, buy-out groups are also expected to look at Ambea, the Nordic nursing homes operator, which is being prepared for a sale or flotation by UK private equity owner 3i.

Nursing home and foster care group Care UK is believed to be in talks with UK private equity firm Bridgepoint over a £275m (€313.1m) take-private.

Companies operating in the healthcare space have shown resilience in the face of the downturn and have been touted as wise investments for private equity firms.

BSN is a specialist in the professional medical products market for general wound care, non-invasive orthopaedics and phlebology. The company has manufacturing facilities in Germany, France, Ireland, Mexico, Pakistan, South Africa, the UK and the US.

Montagu bought BSN from its parents Smith & Nephew and Beiersdorf for €1.03bn at the end of 2005.

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