Cascade Orthopedic Supply and Ottobock have agreed that Cascade will redeem Ottobock’s ownership interests in Cascade. The signing of this transaction took place on September 13. The closing, which then includes the actual redemption of Ottobock’s ownership interests, is expected to take place during the next few weeks. At the closing, Cascade will move forward as an independently held company.
Throughout their partnership, which began in 2020, Cascade and Ottobock operated autonomously.
“Going forward, we want to assure customers, partners, and stakeholders that our working relationship as supplier and distributor will remain unchanged. Cascade will maintain distribution of Ottobock’s orthotic and prosthetic devices and uphold a strong supplier partnership,” the announcement said.
“I am elated to have the opportunity to redeem all outstanding ownership interests of Ottobock by Cascade. Our time at Ottobock allowed us to strengthen the core competencies of the business and achieve growth despite challenging market conditions. I am grateful for those who have worked with us along the way, and excited to bring independent innovative solutions to our customers,” said Cascade CEO Jeff Collins.
“We are proud of the progress Cascade made as part of Ottobock. Under Jeff Collins’ leadership, the team achieved significant growth and refined their core competencies during a dynamic period. We are confident in their future success as an independent entity. We look forward to seeing the innovative solutions they will continue to bring to the O&P community, and we remain committed to advancing our shared mission of improving patient’s lives through innovation and collaboration,” said Scott Schneider, head of government/medical affairs and future development, Ottobock North America.
