A Leesburg company that bills itself as the world’s largest privately held maker of spinal implants is preparing to go public.
K2M Group Holdings was founded 10 years ago by a group of businessmen, including Leesburg investors Eric Major and Lewis Parker. It confidentially filed forms on Jan. 25 with the Securities and Exchange Commission for an initial public offering. In a statement, the 750-person company said it has yet to determine the number of shares it plans to offer or what their price would be.
A spokesman for K2M declined to comment, citing SEC restrictions against touting business ahead of an offering.
K2M takes its name from the second-highest mountain on Earth, and many of its products for treating injuries and medical conditions and for stabilizing the spine are named after mountains. The company’s name also has another meaning: It’s a reference to the second career of co-founder John Kostuik, the chairman and chief medical officer who was a professor of orthopedic surgery at the Johns Hopkins University School of Medicine.
Parker, 72, is owner of Willowcroft Farm Vineyardsin Leesburg.
“He planted the first grapes in 1981 and founded the winery at Willowcroft Farm in 1983,” according to the winery’s Web site. The winery is Loudoun County’s oldest and has won many international and local awards.
The winery makes about 13 varieties amounting to about 30,000 bottles a year at its Loudoun location, including whites and reds. Willowcroft specializes in Bordeaux-style reds.
Parker, a turnaround specialist with a long history working with medical firms specializing in orthopedics, has served as a principal at Parkwood and is a strategic adviser to K2M.
He was vice president of Hazleton Laboratories before it was sold to Corning Glass Works in 1987. He also was chief financial officer of Kirschner Medical, which was sold to Biomet in 1994.
Parker received a bachelor’s degree in civil engineering from Lehigh University and an MBA from the Wharton School of the University of Pennsylvania.
Capital Business is The Washington Post’s weekly publication focusing on the region’s business community.