Proteor USA announced that it has agreed to acquire a significant portion of Freedom Innovations’ lower limb prosthetics portfolio from Otto Bock. The companies reached the agreement in late September and expect the sale to close by the end of 2020.
The deal will allow Proteor to substantially expand its lower limb prosthetics portfolio. The purchase will include Freedom Innovations’ flagship products Plié3 microprocessor knee, the Kinnex and Kinterra ankles, and the Agilix, Highlander, Dynadapt, Sierra and Pacifica feet products.
Proteor expects the proposed transaction to reinforce its positioning and growth strategy worldwide while creating synergies within innovation platforms, significant continuous R&D investment and a focus on mechatronic lower limb solutions. Proteor plans to combine the teams in the United States and Europe and expand globally.
“We strongly believe in the long-term benefits of this move for the people we serve around the world,” said Proteor COO Edouard Archambeaud in a news release. “By combining the expertise of our teams in the U.S. and Europe, the momentum we generate will continue to build Proteor’s presence within the O&P community,”
“We are dedicated to providing inventive, dependable products to the orthotic and prosthetic community that offer increased independence with an outstanding product portfolio,” added Matthew Swiggum, president & CEO of Proteor USA. “Working with the passionate and skilled team at Freedom Innovations is a pleasure we’re all looking forward to.”