TEMPE, Ariz. & DIJON, France--(BUSINESS WIRE)--Proteor, a France-based international group specialized in prosthetic and orthotic solutions, has successfully completed its acquisition of American brand Freedom Innovations and the major part of the product portfolio from Ottobock. With this acquisition, the Proteor group is fueling its strategy to be a global leader in the international orthopaedic market. Proteor’s growth is accelerating with the addition of Freedom Innovation’s quality production, high-tech development, and well-known products: the microprocessor-controlled knee Plie3, the Kinnex and Kinterra ankles and the Agilix, DynAdapt, Sierra, Highlander and Pacifica carbon feet.


“I would like to thank all Freedom Innovations for their continued dedication, focus, hard work, and professionalism during this unpredictable time. We look forward to coming together as one family.” says Edouard Archambeaud, member of the Board of Directors of Proteor. “I would also like to thank Ottobock for working diligently towards a successful outcome and the FTC for their vote of confidence in our acquisition.”


The united organization counts more than 1,000 employees worldwide, more than doubling the US team, bolstered by four global innovation centers and a full product pipeline. The unique microprocessor products and added lower extremity prosthetics differentiate and expand the Proteor portfolio. The sales and support network is also strengthened, increasing contact with clinical customers.

“For all parties involved and especially for the employees of Freedom Innovations, the final solution is good news after several years of uncertainty and sets the future for Freedom Innovations under the roof of both Proteor and Ottobock”, says Philipp Schulte-Noelle, CEO of Ottobock. “I am especially grateful for the very constructive dialogue with the FTC in recent months and the engagement of Proteor.” Proteor welcomes more than 100 members of the Freedom Innovations team in manufacturing, sales, marketing, R&D and clinical studies from Gunnison (Utah), Irvine (California) and Germany.

“I am thrilled with the energy and momentum this change brings,” said Matt Swiggum, President and CEO of Proteor USA. “It positions us for continued growth, building on our commitment to innovation and investment in our customers and their patients.”

Proteor’s journey centers on its customers. To uphold its focus on customer relationships and service, Proteor is working closely with Ottobock to facilitate a smooth and seamless transition of the Freedom Innovations business acquired by Proteor. Ottobock retains a substantial part of the prosthetic feet business with Kintrol foot-ankle prosthesis, the Maverick product family and other carbon feet.

We are Proteor #HumanFirst




PRESS RELEASE

2020 october 9th

Tempe, Arizona – Proteor USA, LLC, a wholly owned subsidiary of the France based, Proteor Group, has signed an agreement with Ottobock to acquire a significant portion of the lower limb prosthetics portfolio of Freedom Innovations which demonstrates Proteor’s continued commitment and investment in the worldwide prosthetic industry. The agreement was reached by Proteor and Ottobock at the end of September 2020 and the proposed transaction is anticipated to close by the end of 2020.


Under the agreement, Proteor will expand substantially its lower limb prosthetics portfolio and acquire a range of Freedom Innovations’ flagship products, including the Plié3 microprocessor knee, the Kinnex and Kinterra ankles, and the Agilix, Highlander, Dynadapt, Sierra and Pacifica feet products.


Both Proteor and Freedom Innovations share a similar mission to increase the independence and well-being of people who use their products by offering innovative, high-performance solutions that deliver security, stability, and comfort for a reasonable price. Through the acquisition of a significant portion of Freedom Innovations, Proteor is eager to combine the teams in the United States and Europe and expand globally, thereby providing a clear choice to prosthetists and their patients for enhanced outcomes.


“We strongly believe in the long-term benefits of this move for the people we serve around the world. By combining the expertise of our teams in the US and Europe, the momentum we generate will continue to build Proteor’s presence within the O&P community” said Edouard Archambeaud, COO and member of the Managing Board of Proteor.


Matthew Swiggum, President and CEO of Proteor USA states, “We are dedicated to providing inventive, dependable products to the orthotic and prosthetic community that offer increased independence with an outstanding product portfolio. Working with the passionate and skilled team at Freedom Innovations is a pleasure we’re all looking forward to.”


For Proteor, the proposed transaction will reinforce its positioning and growth strategy worldwide, while creating synergies within innovation platforms, significant continuous R&D investment, and a focus on mechatronic lower limb solutions. This proposed transaction will further build upon Proteor’s presence in the United States lower limb prosthetics market, already strengthened by Proteor’s prior acquisition of Ability Dynamics’ RUSH Foot portfolio, which further illustrates Proteor’s commitment to its markets worldwide.


The terms of the proposed transaction between Proteor and Ottobock remain subject to the final approval of the Commissioners of the U.S. Federal Trade Commission (FTC) and are meant to satisfy Ottobock’s obligations under the Order from the FTC to divest certain assets from the U.S. company Freedom Innovations. Once approval from the FTC is obtained, Proteor USA will integrate a significant number of Freedom Innovations team members in manufacturing, sales, marketing, R&D and clinical from Gunnison, Utah; Irvine, California; and Germany.



About Proteor

Media contact : Sophie.desbois@proteor.com

Proteor, an independent family-company, was established 105 years ago with its headquarters in Dijon, France. Proteor operates in the O&P market with three key areas of activities: software’s, components and custom-made devices. Thanks to continuous investments in innovation, many medical and scientific partnerships, and day to day cooperation with CPOs, Proteor enjoys a recognized expertise all over the O&P community.

For additional information visit http://proteorusa.com/


PROTEOR USA is pleased to announce that Kristin Wacker has been hired as Sales Representative for the Great Lakes territory covering Michigan, Ohio, Indiana and Kentucky.

Kristin joins the PROTEOR USA team with 6+ years of successful selling experience in the medical field. Her clinical experience coupled with her Communications Degree from the University of Missouri-Columbia provide an excellent foundation. She brings a passion for learning and a desire to help people lead more independent lives.

PROTEOR USA Vice President of Sales Frank Oschell shares: "I am excited to have Kristin join the team. Her energetic, process driven approach to uncovering needs and providing solutions will serve this customer base extremely well. In addition, her passion for serving people help to further cement our culture and brand promise of Human First.”

About PROTEOR USA

PROTEOR USA, a North American company established in 2011, is located in Tempe, Arizona.  PROTEOR USA is not only home to the infamous RUSH Foot Collection, a first of its kind prosthetic foot constructed of a unique glass composite; PROTEOR USA is also proud to offer a complete line of prosthetic and orthotic componentry including both mechanical and microprocessor controlled (MPK) knee joints.  With its guarantee of quality & strong brand identity, PROTEOR USA is focused on improving lives through innovation and a focus on the patient’s perspective.

To learn more visit: https://www.proteorusa.com

Media Contact: Joel Goltry, Field Support Manager, PROTEOR USA. – 855.450.7300 jgoltry@proteorusa.com


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