EQT Partners AB

EQT VII to invest in global 'hidden champion' and medical mobility technology market leader Ottobock

DGAP-Media / 24.06.2017 / 12:20 PRESS RELEASE                                                                                                           June 24, 2017   EQT VII to invest in global "hidden champion" and medical mobility technology market leader Ottobock

- EQT VII to acquire a 20% stake in Germany-based Ottobock, the global market leader in medical mobility solutions ranging from prosthetic and orthotic products to wheelchairs and accompanying services

- Founded by Otto Bock in 1919, the Company has been an industry innovator and has launched the first completely microprocessor-controlled lower limb prosthesis, among others

- EQT will support majority owner Professor Hans Georg Näder and the management team on Ottobock's continued growth trajectory and focus on innovation

The EQT VII Fund ("EQT VII") has entered in to an agreement to acquire a 20% stake in Ottobock (or "the Company") from Otto Bock HealthCare GmbH.

Since its foundation in 1919 by Otto Bock, the Company has been a synonym for revolutionizing, innovating and moving forward medical mobility technology. Otto Bock started the first serial production of prosthetic components post World War I. After World War II, the Company introduced the modular solution for upper and lower limb prosthesis. In 1997, Ottobock launched the C-Leg, the world's first completely microprocessor-controlled lower limb prosthesis solution. Over nearly a century, Ottobock's products have allowed users to achieve a better quality of life, more mobility and independence. True to this philosophy, Ottobock has actively supported the Paralympic Games since 1988 and has been a partner of the International Paralympic Committee since 2005.