German family-owned prosthetic and orthotic company Ottobock is planning to carve out and sell its Human Mobility unit, which includes its wheelchair products, three sources familiar with the situation said.

Goldman Sachs is advising on the process, the sources said.

The unit recorded EBITDA of EUR 8m-EUR 10m for 2024, according to two of the sources.

Ottobock is aiming to complete the divestment before its IPO, one of the sources said.

It was reported in March that Ottobock’s listing could take place as early as the second half of 2025.

Goldman Sachs, Deutsche Bank, BNP and Freshfields are advising on the IPO, as reported.

This news service reported earlier this month that the sale process for another German wheelchair manufacturer, Meyra Group, was paused due to mismatched price expectations.

Larger domestic peer Sunrise Medical was one of the late-stage bidders for Meyra, as reported. Sunrise Medical itself was acquired by Platinum Equity from Nordic Capital in 2024.

Ottobock’s Human Mobility includes a broad selection of manual and power wheelchairs, wheelchairs for children, rehab buggies, and seating and positioning solutions, according to its website.

Ottobock reported group turnover of EUR 1.6bn in 2024 with EBITDA of EUR 325m.

The company was widely reported to be planning an IPO in 2022, which did not materialise due to unfavourable market conditions. EQT, which previously held a 20% stake in Ottobock, explored exit options in 2022-2023, ultimately selling its stake to the existing shareholder, the Näder family, in 2024.

Ottobock and Goldman Sachs declined to comment.