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.