FRANKFURT, July 10 (Reuters) - German prosthetic limb and wheelchair maker Ottobock is aiming to float on the stock exchange in two years, its chief executive told a German magazine.
“We want to enter the stock exchange with our strongly growing healthcare business in 2017,” weekly Focus magazine quoted Hans Georg Naeder as saying in an interview.
Healthcare — by far the largest of Ottobock’s three businesses — has around 7,300 employees and generated sales of 771 million euros ($856 million) last year, according to the company’s website. Ottobock also has a chemicals division and an IT business.
Focus magazine said the 96-year-old company would offer investors 25 percent of stock in the healthcare business in a first step.
CEO Naeder is only the third chief to lead the company, after Otto Bock, a prosthetist who founded the business after World War One, and Bock’s son-in-law Max Naeder.
$1 = 0.9005 euros Reporting by Maria Sheahan; Editing by Mark Potter