Tuesday, 22. August 2017
“Partnership with EQT confirmed”
Prof. Näder: “Quickly expanding further activities”
DUDERSTADT, GERMANY. The long-term partnership between Otto Bock HealthCare GmbH and Swedish private equity firm EQT is set to go ahead. All contingent regulatory requirements involved in the closing have now been fulfilled. EQT will thus hold a 20 percent share in Otto Bock HealthCare GmbH. Otto Bock Holding GmbH & Co. KG, which is in 100 percent ownership of the Näder familiy, will retain an 80 percent share in the company.
“Cooperation with our partner EQT is already proceeding at full pace – and we’re working together smoothly as equal partners, just as planned,” said Prof. Hans Georg Näder, President of Otto Bock Holding GmbH & Co. KG. “With the initial weeks behind us, we are now quickly expanding on our joint activities. Our strategy is to now pursue sustainable, profitable growth at an even faster rate. The partnership with EQT is a forward-looking step that will enable us to achieve this goal even quicker thanks to the expertise and financial leeway we have gained.”
Closing was expected to take place in the second half of the year when the investment agreement was signed on 24 June in Duderstadt. As part of the closing Otto Bock HealthCare GmbH has concluded a new Financing arrangement.
“We have established a promising partnership and are contributing our wide-ranging expertise in the field of medical technology and in potential areas for value enhancement as a strategic partner. We are working together to ensure that Ottobock achieves even more dynamic growth and becomes even more efficient in its position as the world market leader in the field of technical orthopaedics. The partnership is already proving itself as a model for family companies,” said Marcus Brennecke, who is responsible for EQT’s DACH region (Germany, Austria and Switzerland) from its office in Munich.