Tuesday, 07. May 2019
Ottobock Issues Statement on U.S. Federal Trade Commission Decision Regarding Acquisition of Freedom Innovations
Today, the U.S. Federal Trade Commission released the FTC’s Administrative Law Judge’s Initial Decision regarding the acquisition of Freedom Innovations by Ottobock, recommending to the FTC Commission the divestiture of certain assets of Freedom Innovations. Ottobock acquired Freedom Innovations in September of 2017 with the goal of strengthening the prosthetic product choices and technology for the benefit of amputees and consumers. Ottobock expresses its disappointment in the Initial Decision. Ottobock will continue to work in a collaborative manner with the FTC to promptly reach a mutually beneficial resolution.
Ottobock is considering all options to protect our ability to deliver greater consumer choice, improve product quality and fuel innovation. As Ottobock evaluates potential actions, Freedom Innovations will continue to operate as an independent business. “Ottobock is committed to serving customers by providing them with a selection of the most innovative products to meet their needs. As we have throughout our 100-year history, we will persist in exploring and advancing all efforts necessary to ensure patients have access to the smart technology and care that they deserve, and will actively pursue strategies that deliver on this mission,” says Brad Ruhl, Managing Director of Otto Bock HealthCare North America.
For 100 years Ottobock, the German global technology leader, has been developing med-tech products and fitting solutions for people with limited mobility in the areas of Prosthetics, Orthotics and Human Mobility and provides patient care in its MedicalCare division. In 2018 the company transferred its biomechanical expertise to applications for industrial use with its exoskeleton Paexo. The company’s international activities are coordinated from the head office in Duderstadt/Germany. Ottobock has been investing, employing, researching and developing in the US since 1958 for the benefit of people with impaired mobility and has since then always been a good corporate citizen. Subsidiaries in 58 countries offer “Made by Ottobock” quality worldwide and employ more than 7,000 people. Ottobock has supported the Paralympic Games with its technical expertise since 1988.
Ottobock SE & Co. KGaA
Head of Investor Relations, Corporate Communications and Public Affairs Berlin
Mark C. Schneider
Ottobock SE & Co. KGaA, Prenzlauer Allee 242, 10405 Berlin, Germany
Phone: +49 30 398 206 222
Mobile: +49 151 146 591 35