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German family-owned prosthetics and orthotics company Ottobock is moving to separate and sell its Human Mobility division, which encompasses its wheelchair products, according to three sources familiar with the matter. Goldman Sachs is managing the process, the sources said. Two of the sources note the unit achieved EBITDA of EUR 8m-EUR 10m in 2024. Ottobock intends to finalize this divestiture ahead of its planned IPO, as one source indicated. Reports from March suggested Ottobock’s public listing could occur as soon as the second half of 2025. Goldman Sachs, Deutsche Bank, BNP, and Freshfields are advising on the IPO, according to previous reports.
Earlier this month, this publication reported that the sale of fellow German wheelchair manufacturer Meyra Group was put on hold due to differing price expectations, with larger local rival Sunrise Medical among the late-stage bidders. Sunrise Medical itself was acquired by Platinum Equity from Nordic Capital in 2024.
Ottobock’s Human Mobility division features a wide range of manual and electric wheelchairs, pediatric wheelchairs, rehab buggies, and seating and positioning solutions, per the company’s website. Ottobock reported group revenues of EUR 1.6bn for 2024, with EBITDA reaching EUR 325m. While Ottobock was widely expected to go public in 2022, those plans were shelved due to adverse market conditions. EQT, which once held a 20% stake in Ottobock, explored exit strategies between 2022 and 2023, ultimately selling its shareholding back to the Näder family in 2024.
