Ottobock is acquiring the patient care business of Blatchford in Norway for a purchase price of approximately EUR 110 million (approximately $130 million). The transaction will close in the next few days. The acquisition of the eight locations is another step in Ottobock’s expansion strategy in the patient care business.
“By expanding our existing patient care network, we are creating synergies on two levels. New locations benefit from established structures such as centralized fabrication and digital platforms. At the same time, we move closer to our users and gain valuable feedback that flows into our product development,” said Oliver Jakobi, CEO, Ottobock.
Ottobock has not previously had a direct presence in Norway. With approximately 200 employees and total revenue of approximately EUR 40 million ($47 million), Blatchford is one of the market leaders in Norway. Ottobock’s current planning assumptions foresee revenue growth in the high single-digit percentage range per year over the next years.
Most recently, Ottobock had integrated local market leaders in Denmark, the Netherlands, and Belgium into its care network.
“With the acquisition of Blatchford in Norway, we are continuing our growth trajectory in patient care. In the course of technological developments in O&P, close integration between operating surgeons, rehabilitation centers, and O&P clinics is becoming increasingly important,” said Dr. Arne Kreitz, CFO, Ottobock. “Expanding our patient care network is therefore a key lever for the scalability of our business model.”
