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,

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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.