Otofarma, an Italian company specialising in customised hearing solutions, will begin trading tomorrow on Euronext Growth Milan, following the successful completion of an institutional offering that attracted strong interest from European investors.
The offering was aimed exclusively at institutional and professional investors, both domestic and international, and was structured as a capital increase that raised over €10.5 million. Demand significantly outstripped supply, reflecting the strength of the company’s business model and the appeal of the hearing health sector.
Leading the group of prominent investors is Axon Partners Group, which spearheaded the transaction through its growth crossover strategy, focused on high-potential technology companies with plans to go public. With this addition, Otofarma becomes the tenth company in a portfolio centred on innovative businesses in pre-IPO, IPO, and post-IPO stages, particularly those listed on alternative European markets. Axon’s stake, close to 10% of the capital, reinforces its strategy of supporting transformative business models with real societal impact and clear potential for scalability.
Gennaro Bartolomucci, Chairman of the Group, expressed his gratitude to those who have placed their trust in the company and emphasised that the listing represents a significant milestone in the Group’s growth journey.
Founded in 2016, Otofarma has established itself as a key player in the Italian market thanks to a distinctive model: a network of over 4,000 affiliated pharmacies, pioneering the integration of tele-audiology and remote diagnostics into primary care settings. In 2024, the company sold more than 12,000 devices and closed the year with pro forma revenues of €15.1 million and an EBITDA margin of 19.7%.
"At Otofarma, we’ve found a compelling combination of entrepreneurial vision, health-focused technology, and strong execution capabilities that points to sustainable growth and long-term success. This aligns precisely with the type of company targeted by our crossover strategy: visionary, energetic entrepreneurs leading innovative businesses with real impact and the potential to lead their sector," said Francisco Velázquez, Chairman of Axon Partners Group.
With its stock market debut, Otofarma is entering a new phase focused on international expansion, the development of new products, and the consolidation of its leadership in the pharmacy channel, combining technology, proximity, and accessibility.
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