Private Equity firms eye German prosthetic maker Ottobock

A handful of private equity groups are looking to get a piece of Germany’s Ottobock, the world’s largest maker of artificial limbs.

Private equity groups KKR and CVC and buyout firms BC Partners and Advent are looking to pick up a 20% stake in the company, which would be worth approximately $268.5 million, according to Reuters.

Ottobock is seeking the backing to develop additional bionic devices, including prosthetic limbs and orthotic braces that are more closely modeled on natural mechanisms.

The privately held company ,currently owned by the founder’s grandson Hans Naeder, said last week it would be targeting private equity firms, affluent families and technology funds as potential buyers. Ottobock hopes to complete the deal by the end of June, ahead of a later initial public offering.

Ottobock was started in 1919 as a maker of prosthetics for World War 1 veterans, and said it is valued at approximately $3.2 billion (EU €3 billion).

Material from Reuters was used in this report.

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