Ronkonkoma, NY – April 2014
Ottobock, the global leader in technology based mobility solutions, has made a strategic investment in Orthotic Holdings, Inc., the leading lower extremity foot orthotic and related products company in North America. Ottobock, a 95-year-old company headquartered in Duderstadt, Germany, operates in 50 countries across six continents providing high quality, technologically advanced products designed to improve or restore the mobility of people. With a very strong commitment to research and development, the company continues to achieve high sales growth and now employs over 7,000 people worldwide.
Orthotic Holdings, Inc., consisting of Langer Biomechanics, Inc., The Orthotic Group Inc., Arizona AFO Inc., SafeStep Inc., and Pedalign Inc. is a market leader in lower extremity bracing, foot orthotics and diabetic footwear. OHI, has four manufacturing facilities located in three countries and distribution throughout the world.
The Ottobock investment in OHI provides both companies access to strategically important assets. The investment will provide considerable synergies to both companies in the areas of business development, research and development, and distribution. Ivan Sabel, OHI CEO states “I have had a long professional and personal relationship with Professor Hans Georg Nader and the rest of the Ottobock team spanning 25 years, and couldn’t be more excited to join forces to help OHI achieve its growth and development goals”.
Andreas Schultz, Regional President and CFO of Ottobock North America, has joined the OHI Board of Directors as part of the transaction. “I am looking forward to supporting our orthotic growth in North America,” said Schultz, “ultimately benefiting our clinical customers and their patients.”
