OTTO BOCK ANNOUNCES FORMATION OF NEWEST LATIN AMERICAN SUBSIDIARY
MINNEAPOLIS, MINNESOTA January 2, 2002- In a related story, Otto Bock Health Care, a global leader in the orthotic, prosthetic and rehabilitation industry, announced the formation today of Otto Bock Andina, in Cali, Colombia. Otto Bock Andina will be responsible for representing Otto Bock in the countries of Colombia, Ecuador, and Peru. Effective with the formulation of OB Andina, Otto Bock will have direct ownership of four subsidiaries in Latin America: Mexico, Argentina, Brazil, and Colombia. The latest business formation represents Otto Bock’s continued commitment to and investment in this region.
Otto Bock Andina’s organization consists of sales, marketing, logistics and clinical specialists, with Marcus Goldman named as Managing Director. The organization in Colombia, and all other subsidiaries in South America, reports directly to Otto Bock of the America’s headquarters in Minneapolis.
“The opening of Otto Bock Andina,” according to Patrick Chelf, Vice President of Marketing and Business Development, “represents another step in our commitment to the orthotic and prosthetic patient around the world. Latin America has one of the highest rates of untreated limb loss in the world, and diseases that demand orthotic solutions are more common throughout the region than in the developed worlds of North America and Europe. We are growing our business presence where the need for our products is the highest.”
Marcus Goldman adds, “Otto Bock Andina’s formation is recognition that Latin America is a unique and important market, one that must be served by individuals that are experienced in the language, customs, healthcare, and government of the area. We are committed to long-term growth and plan to continue expanding throughout the region.”
The creation of Otto Bock Andina was accomplished by absorbing the operations of its previous distributor for the region. Otto Bock intends to establish an additional subsidiary in Latin America in the third quarter of 2003 in Venezuela.
Established in 1958, Minneapolis, Minnesota-based Otto Bock Health Care is the North and South American corporate headquarters of Otto Bock Company Group, based in Duderstadt, Germany. Otto Bock has more than 3,600 employees worldwide and produces over 20,000 types of prosthetic and orthotic components, rehabilitation products and technical plastics, and also provides information technology services.
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