July 10, 2015 / 7:15 AM / 4 years ago

German prosthetics firm Ottobock eyes IPO in 2017 - CEO in Focus

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

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