Ottobock acquired Fesia Technology, which develops and markets functional electrical stimulation (FES) systems for patients with neurological diseases or injuries to the nervous system, expanding Ottobock’s neuro-orthotics portfolio to include FES products. The transaction is expected to close this year. The purchase price was not disclosed. Fesia Technology, headquartered in Spain, employs around 20 people.
“Neurological conditions are already, and will continue to be, a major topic in the orthotics and prosthetics industry. The number of people worldwide affected by conditions such as stroke, multiple sclerosis, cerebral palsy, or spinal cord injuries is steadily increasing. We have therefore made providing care for people with neurological conditions a core part of our mission,” said Oliver Jakobi, CEO, Ottobock.
“As a global leader in neuro-orthotics, offering a comprehensive portfolio is essential to us. The acquisition of Fesia provides us with access to an innovative and deployable FES technology platform, enabling us to play an even stronger role in shaping the growing market for neurological diseases through our own capabilities,” Jakobi said.
“The ambition of Fesia Technology has been to push the boundaries of functional electrical stimulation. Joining Ottobock creates a unique opportunity to scale this innovation globally, setting new standards in neurorehabilitation and human mobility,” said Haritz Zabaleta, CEO, Fesia Technology.
