Otto Bock Purchases TEC Interface Systems

Otto Bock Health Care announced the purchase of TEC Interface Systems, Waite Park, Minnesota, January 3. Otto Bock's North American headquarters is in Minneapolis, Minnesota.

TEC Interface Systems is an award-winning company (2002 Fast Company magazine's FAST 50 Innovator, 2002 Ernst & Young Entrepreneur of the Year Award, and 1995 Minnesota Small Business of the Year), noted for its custom and prefabricated liners, suspension sleeves, and post-operative and volume management products for the prosthetic industry.

Terms of the deal were undisclosed.

According to Bert Harman, president of Otto Bock North America, Otto Bock acquired TEC Interface Systems, "Because we think that our corporate cultures and our approaches to innovation are very much alike. TEC's products are highly innovative and perfectly complement our existing portfolio. Their patient needs-based approach to the market is consistent with Otto Bock's approach worldwide. And both companies are strongly committed to educating the practitioner."

Harman stated, "As the number one global manufacturer of prosthetic components, purchasing TEC Interface Systems is in line with our corporate strategy of investing in forward-looking technologies that support our goals for aggressive growth. Right now there are two technologies in our industry which are dramatically changing the face of prosthetics-one is our microprocessor-controlled C-Leg® technology; and the other is the VASS® system from TEC." According to Harman, "Being able to offer the revolutionary Harmony VASS volume management system through our international distribution channels will further fuel this product's exponential growth and make this technology available on a global scale."

Carl Caspers, CPO, TEC founder and president, agreed with Harman's assessment. "We think the companies are similar in their approach to customers and to employees," he said. "There's a good fit in management styles. We believe that Otto Bock's global sales and distribution network is the missing element in our formula for global success. I'm certain that Otto Bock will take good care of TEC's history-and its people. He added, "The close physical proximity of the two companies here in the U.S. is a real plus for our current staff."

Otto Bock's headquarters is located less than 50 minutes from TEC's existing plant in St. Cloud, Minnesota. According to Dave Wall, Otto Bock vice president of Manufacturing, "The current operations of the two companies will be combined over the next six months, with special emphasis on integrating the strengths of our complementary research and development teams. This integration will be undertaken very carefully, to avoid interfering with TEC's current market momentum. There are no plans for job eliminations at the TEC facility at this time.

"Most of the senior management of TEC will play a role at Otto Bock," Wall continued, adding, "Otto Bock has entered into a long-term development consulting agreement with Carl Caspers, so that we can keep his passion for the patient focused on future products and future clinical solutions-under the Otto Bock brand."

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Otto Bock Purchases TEC Interface Systems

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Related posts:

Tillges To Open Professional Center

Otto Bock Forms New Subsidiary in Colombia

Otto Bock Forms New Subsidiary in Colombia

O&P JOBS

We’re Currently Seeking Certified Prosthetist/Orthotists (CPOs) for Opportunities Throughout Several States

Certified Prosthetist Orthotist or Board Eligible Prosthetist Orthotist

Certified Prosthetist / Prosthetist-Orthotist (CP/CPO) Gates Prosthetics + Mobility Clinic — Mountain Home, AR

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