January 2015

Freedom Innovations, Parker collaborate

Irvine, CA-based lower extremity device manufacturer Freedom Innovations and Cleveland, OH-based motion control technology company Parker Hannifin Corporation announced on December 9 that the companies have completed a minority equity investment agreement.

The agreement expands a partnership that began in July 2013 with a technology collaboration related to intelligent powered orthotics and prosthetics, and builds on Parker’s position in the market through the development of the Indego, a powered lower limb orthosis, or exo­skeleton. Parker hopes to launch the Indego commercially in Europe this summer and in the US later in the year.

Financial terms of the transaction were not disclosed.

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