Otto Bock HealthCare, Duderstadt, Germany, (aka Ottobock) acquired Freedom Innovations, Irvine, California, from its previous owner, private equity company Health Evolution Partners, San Francisco. The two parties signed the agreement September 22.
“Ottobock and Freedom Innovations will benefit from their combined sales power and portfolios. Integrating the company into the global Ottobock family offers significant advantages; we will be able to generate synergies and take Freedom Innovations to the next level thanks to the strength of our global sales network,” said Hans Georg Näder, president of Otto Bock HealthCare.
Freedom Innovations employs more than 150 people worldwide. Its European headquarters are based in Enschede, Netherlands. Dave Reissfelder, CFO of the Ottobock subsidiary BionX, Bedford, Massachusetts, has been appointed CEO.
“Ottobock is the ideal partner for us,” Maynard C. Carkhuff, newly appointed chairman of Freedom Innovations said. “No other company can offer users and employees anything comparable. We’re excited to be sharing our journey with Ottobock in the future.”
