CMS Cameron McKenna has advised orthopaedic device manufacturer Corin Group on its initial public offering (IPO) on the London Stock Exchange. The £32m listing has been seen by many as part of a possible resurgence in market interest in healthcare and biotechnology companies. Corin has been a Camerons client since the firm advised on its management buyout in the mid-1990s. This was the first deal of real significance since that early instruction. Corporate partner Michael Draper led the Camerons team with Kate Norgett and Darren Lennark assisting. Corin had expected to raise £22m from the listing, but investor interest raised the stakes. The shares were priced at 111p and the float valued Corin at £39m. The company makes hip and knee joints for replacement surgery. It has developed a product that has a longer lifespan than some others, which means that it can be implanted in younger patients. This development and anticipated growth from an ageing population made Corin a popular choice for investors. The deal was sponsored and underwritten by Weil Gotshal & Manges client Beeson Gregory. Head of corporate Paul Claydon led the deal with the assistance of associate Natalie Diep. Diep said: "This is the completion of the first of a number of IPOs that Weil Gotshal is working on both in the healthcare and other sectors." Weil Gotshal has a longstanding relationship with Beeson and shares a number of common clients with the investment bank. Last year the two firms were involved in Oxford Biomedica's move from AIM to full listing. Beeson focuses on small and mid-cap companies and has a particular interest in the biotech sector. The placing proceeds will be used to buy out Corin's venture capitalist backers and as working capital. Pinsent Curtis Biddle partner Roger Fink advised the venture capital investors. Despite a sluggish year for equity capital markets transactions, there are signs of renewed, albeit tentative, confidence emerging. Biotech companies in particular have suffered from market pessimism and at least two other healthcare companies will be monitoring Corin's entry. Ark Therapeutics and YM Biosciences both plan to float.