Proteor — a Dijon, France-based, international group specialized in prosthetic and orthotic solutions — has successfully completed its acquisition of Freedom Innovations and the major part of the product portfolio from Ottobock.
The acquisition includes Freedom Innovations’ production, development, and well-known products, such as the microprocessor-controlled knee Plie3, the Kinnex and Kinterra ankles and the Agilix, DynAdapt, Sierra, Highlander and Pacifica carbon feet.
More than 100 members of the Freedom Innovations team in manufacturing, sales, marketing, R&D and clinical studies from Gunnison (Utah), Irvine (California) and Germany, join Proteor.
Ottobock retains a substantial part of the prosthetic feet business with Kintrol foot-ankle prosthesis, the Maverick product family and other carbon feet.
With this acquisition, Proteor becomes reportedly one of the largest prosthetic providers in the world, according to a news release.
“I would like to thank all Freedom Innovations for their continued dedication, focus, hard work, and professionalism during this unpredictable time. We look forward to coming together as one family. I would also like to thank Ottobock for working diligently towards a successful outcome and the FTC for their vote of confidence in our acquisition.”
— Edouard Archambeaud, member of the Board of Directors of Proteor
The united organization counts more than 1,000 employees worldwide, more than doubling the US team, bolstered by four global innovation centers and a full product pipeline. The unique microprocessor products and added lower extremity prosthetics differentiate and expand the Proteor portfolio. The sales and support network is also strengthened, increasing contact with clinical customers, the release explains.
“For all parties involved and especially for the employees of Freedom Innovations, the final solution is good news after several years of uncertainty and sets the future for Freedom Innovations under the roof of both Proteor and Ottobock. I am especially grateful for the very constructive dialogue with the FTC in recent months and the engagement of Proteor.”
— Philipp Schulte-Noelle, CEO of Ottobock
“I am thrilled with the energy and momentum this change brings. It positions us for continued growth, building on our commitment to innovation and investment in our customers and their patients.”
— Matt Swiggum, President and CEO of Proteor USA
[Source(s): Proteor, Business Wire]
Proteor USA Acquires Freedom Innovations