With FTC Approval, Proteor Completes Strategic Acquisition of Freedom Innovations Assets

TEMPE, Ariz. & DIJON, France--(BUSINESS WIRE)--#dynadapt--Proteor, a France-based international group specialized in prosthetic and orthotic solutions, has successfully completed its acquisition of American brand Freedom Innovations and the major part of the product portfolio from Ottobock. With this acquisition, the Proteor group is fueling its strategy to be a global leader in the international orthopaedic market. Proteor�s growth is accelerating with the addition of Freedom Innovation�s quality production, high-tech development, and well-known products: the microprocessor-controlled knee Plie3, the Kinnex and Kinterra ankles and the Agilix, DynAdapt, Sierra, Highlander and Pacifica carbon feet.

�I would like to thank all Freedom Innovations for their continued dedication, focus, hard work, and professionalism during this unpredictable time. We look forward to coming together as one family.� says Edouard Archambeaud, member of the Board of Directors of Proteor. �I would also like to thank Ottobock for working diligently towards a successful outcome and the FTC for their vote of confidence in our acquisition.�

The united organization counts more than 1,000 employees worldwide, more than doubling the US team, bolstered by four global innovation centers and a full product pipeline. The unique microprocessor products and added lower extremity prosthetics differentiate and expand the Proteor portfolio. The sales and support network is also strengthened, increasing contact with clinical customers.

�For all parties involved and especially for the employees of Freedom Innovations, the final solution is good news after several years of uncertainty and sets the future for Freedom Innovations under the roof of both Proteor and Ottobock�, says Philipp Schulte-Noelle, CEO of Ottobock. �I am especially grateful for the very constructive dialogue with the FTC in recent months and the engagement of Proteor.�

Proteor welcomes more than 100 members of the Freedom Innovations team in manufacturing, sales, marketing, R&D and clinical studies from Gunnison (Utah), Irvine (California) and Germany.

�I am thrilled with the energy and momentum this change brings,� said Matt Swiggum, President and CEO of Proteor USA. �It positions us for continued growth, building on our commitment to innovation and investment in our customers and their patients.�

Proteor�s journey centers on its customers. To uphold its focus on customer relationships and service, Proteor is working closely with Ottobock to facilitate a smooth and seamless transition of the Freedom Innovations business acquired by Proteor. Ottobock retains a substantial part of the prosthetic feet business with Kintrol foot-ankle prosthesis, the Maverick product family and other carbon feet.

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About Proteor:

Proteor, an independent family-company, was established more than 100 years ago headquartered in Dijon (France). Proteor operates within the O&P industry with three strategic pillars: software�s, components and custom-made devices. Thanks to continuous investments in innovation, many medical and scientific partnerships, and day to day cooperation with CPOs, Proteor enjoys a recognized expertise all over the O&P community.

For additional information visit: http://www.proteorusa.com/

Contacts

Contact media:

Sophie DESBOIS

[email protected]