Orthotic Holdings Inc. announced that Ottobock has made a strategic investment in the orthotics group.
Orthotic Holdings Inc. (OHI) consists of Langer Biomechanics Inc., The Orthotic Group Inc., Arizona AFO Inc., SafeStep Inc. and Pedalign Inc. OHI has four manufacturing facilities in three countries and global distribution.
According to a press release, the investment provides both companies access to strategically important assets and will provide considerable synergies to both companies in the areas of business development, research and development and distribution.
“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 be joining forces to help OHI achieve its growth and development goals,” Ivan Sabel, chief executive officer of OHI, stated in the release.
Andreas Schultz, regional president and chief financial officer of Ottobock North America, has joined the OHI board of directors as part of the transaction.