Otto Bock enters the Romanian medical product market

German Otto Bock, the global leader on the market of medical products for disabled persons, entered the Romanian market and targets medium-term business worth €4 million.

"In three to five years, the Otto Bock business in Romania could amount to €4-5 million, given the market potential and the evolution on other Eastern European markets, where the company has opened branches," Otto Bock Romania's General Manager, Ionut Savescu, told Business Standard.

For 2008, the company estimates €1.5 million worth of business, as the level of state subsidies for medical devices is low in Romania. The maximum level of subsidies provided by the National House for Health Insurance (CNAS) is €800, while a modern prosthesis costs €4,500-5,000.

Business Standard