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06/2017Minority

EQT Partners invests in Ottobock

GERMANY Life Sciences / Medical Devices / Implants & Prosthetics EV €1–10bn

Context

EQT VII has entered into an agreement to acquire a 20% minority stake in Ottobock, as part of a strategic partnership aimed at supporting Ottobock's international growth ambitions, driving its strategic objectives, and potentially preparing the company for a future initial public offering (IPO) in the medium term. The investment by EQT comes at a time of significant transformation in the mobility technology market, driven by an aging population, increasing demand for rehabilitation solutions, and advancements in smart prosthetics. This partnership enables Ottobock to secure a long-term financial partner while maintaining its majority family ownership. EQT brings its expertise in transforming industrial companies and driving international growth, with a focus on operational improvement and commercial acceleration. The transaction is subject to customary regulatory approvals and is part of a broader strategy to develop the group into a global leader in human mobility solutions.

By taking control of Ottobock, EQT Partners continues its expansion strategy. Previously, the group had completed 3 acquisitions, including Colisée in 2017.

Ottobock, which reported an EBITDA margin of [members only] in 2016, is valued in this transaction at an EV/EBITDA multiple of Above 20x.

-> Deep-dive in Healthcare & Pharma market trends

Target

Ottobock is the global market leader in wearable human bionics and prosthetics. Its business model integrates the development and manufacturing of high-tech mobility solutions—including bionic prostheses, braces, and wheelchairs—with a vast global "Patient Care" network of over 400 fitting centers. The company’s value proposition centers on restoring human mobility through innovation, such as the microprocessor-controlled C-Leg and the Genium bionic knee. Strategically, Ottobock operates a vertically integrated model, capturing value from R&D and component manufacturing to direct clinical service delivery. With over 9,300 employees, the firm has evolved from a traditional family business into a data-driven medtech powerhouse, focusing on digitalizing the orthopedic fitting process and expanding its presence in emerging markets.

Ent. Value

€1–10bn

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

Above 20x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2016
€450–900M
€100–200M
[members only]
2015
€450–900M
€100–200M
[members only]

Other operations with Ottobock

Other operations with Ottobock
DateAcquirerTargetCountrySector
10/2025PUBLIC MARKETS (IPO)OTTOBOCKGERMANYImplants & Prosthetics
05/2025OTTOBOCKMATTON ORTHOMEDIBELGIUMImplants & Prosthetics

Other operations with EQT Partners

Other operations with EQT Partners
DateAcquirerTargetCountrySector
07/2021EQT PARTNERSMEINE RADIOLOGIEGERMANYRadiology
07/2021EQT PARTNERSBLIKK GROUPGERMANYRadiology
03/2021EQT PARTNERSCERBA HEALTHCAREFRANCELabs (Biology)
12/2020EQT PARTNERSTORGHATTENNORWAYMarine Passenger
09/2020EQT PARTNERSSCHÜLKEGERMANYMedical Consumables
09/2020EQT PARTNERSIDEALISTASPAINE-commerce & Marketplaces
09/2020EQT PARTNERSCOLISÉEFRANCENursing Homes
04/2017EQT PARTNERSCOLISÉEFRANCENursing Homes
06/2016EQT PARTNERSAPLEONAGERMANYHVAC
03/2014EQT PARTNERSI-MED RADIOLOGY NETWORKAUSTRALIARadiology

Similar deals in Life Sciences

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04/2017NORDSON CORPORATIONVENTION ADVANCED TECHNOLOGIESUNITED KINGDOMMedical Devices
04/2017BAIN CAPITAL / CINVENSTADAGERMANYGenerics / Labs
03/2017ARDIANUNITHERFRANCECDMO
02/2017ECOLABLABORATOIRES ANIOSFRANCEMedical Consumables
09/2016ARDIAN / IXO PRIVATE EQUITYLAGARRIGUEFRANCEImplants & Prosthetics
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REFERENCES

Valuation range: EV €1–10bn

Revenue range: €450–900M

EBITDA range: €100–200M

EV/Revenue range: 2x - 6x

EV/EBITDA range: Above 20x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Ottobock by EQT Partners are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: ottobock

FAQ

What transaction does this page cover?

This page covers the acquisition of a minority stake in Ottobock, a German company specialised in Medical Devices, by EQT Partners in 2017. Ownership has since evolved, leading to a subsequent transaction with Public Markets in October 2025 (see the dedicated deal page for details).

How was the acquisition of Ottobock by EQT Partners valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €1–10bn band, its EV/EBITDA multiple within the Above 20x range, and its EV/revenue multiple within the 2x - 6x range. Exact figures are available to members.

What were Ottobock’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Ottobock generated annual revenue estimated in the €450–900M range and EBITDA in the €100–200M bracket (FY 2016). Detailed financial figures are available to members.

What sources support the information on this transaction?

Transaction intelligence is supported by independent reporting from specialized financial publications, alongside a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.