Frazier Healthcare, headquartered in Seattle, Washington, has announced the acquisition of Orthotic Holdings, based in Markham, Ontario, Canada, from majority owner, Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania. Financial details were not disclosed.
Orthotic Holdings is a holding company of Langer Biomechanics, Ronkonkoma, New York; Arizona AFO, Mesa; and The Orthotic Group, Markham. Through these three brands, Orthotic Holdings is the leading North American manufacturer, marketer, and distributor of predominantly custom and branded medical products that treat foot-, ankle-, and leg-related conditions and diseases, according to Frazier Healthcare.
As part of the transaction, Frazier Operating Partner, Ivan “Van” Sabel, will lead the company through its next phase of growth as its new chief executive officer. Sabel brings extensive experience growing companies both organically and through acquisitions. As modern-day founder and former CEO and chairman of Hanger, Austin, Texas, he grew the business from $1.25 million in revenue to nearly $1 billion, while executing more than 100 practice acquisitions and several large strategic acquisitions. Other organizational changes include the transition of Jason Kraus to president and chief operating officer (COO) of Langer Biomechanics and Arizona AFO and Bruce Marrison to president and COO of The Orthotic Group.