Prosthetics manufacturer Steeper Group has been acquired by the Eqwal Group, a global O&P patient care services provider, employing more than 1,700 people with clinics across Europe and the United States. It also has expertise in 3D printing and CAD/CAM systems.
Eqwal will acquire 100 percent of the shares in Steeper Group. The value of the acquisition was not disclosed.
Steeper said joining Eqwal provides the opportunity to enhance the company’s clinical offering in the United Kingdom and support innovation across its product ranges and clinical services.
“This is an exciting opportunity to work within a global network of patient-focused businesses. Eqwal were an ideal fit thanks to their established network of patient-focused prosthetic and orthotic care providers,” said Steeper CEO Paul Steeper.
COO/CFO John Midgley, Steeper, and the existing board will remain with the business, and the company will continue to operate under the Steeper brand.
“Eqwal is proud to welcome Steeper Group to our worldwide network of patient care service providers. We’re also honored to carry the heritage and continue the story of a company who were founded over 100 years ago,” said Eqwal CEO Jean-Pierre Mahé. “We’re thrilled at the confidence John, Paul, and the Steeper team have afforded us by joining our ambitious project: to offset disability throughout the world and to build an inclusive society whilst protecting and preserving the environment.”
In February 2017, Steeper and Midgley acquired Steeper Group from private equity firm Dunedin. Steeper had been owned by private equity firms for many years, and by Dunedin since 2005.
