Indiana 100: New ownership, aging population keep Biomet booming

Biomet Inc.'s shift from a public company to private ownership has taken the orthopedics firm off an emotional roller coaster.

From a morale standpoint, employees no longer see the value of their company fluctuate from one quarterly report to the next, said William C. Kolter, vice president of government and public affairs and corporate communications at the Warsaw-based company.

The 30-year-old business was acquired by a consortium of private equity firms Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. and TPG - in an $11.4 billion deal that closed in October 2007.

It reported revenue of $2.1 million for 2007, and in March, the company reported unaudited net sales of $603.1 million for the third quarter ended Feb. 29, up 14 percent.

The new ownership has given the company additional access to business minds, people who are looking at a range of opportunities, procedures and practices to help the company position itself for the future, said Kolter, who has been with Biomet since 1987.