Ottobock SE & Co. KGaA

Ottobock, based in Duderstadt and controlled by its founding family, is the world's leading maker of prosthetics and orthotics, from advanced bionic arms and legs to wheelchairs and industrial exoskeletons. Its high-tech limbs restore mobility to hundreds of thousands of people, and steady demand from an ageing world and expanding healthcare access gives it a defensive, structurally growing market. Having joined the stock market only recently, Ottobock has little or no dividend history and is focused on growth rather than distributions, so income plays no real part in the case for now. This is a quality medtech growth stock valued for its market leadership and long-term prospects rather than for a payout.