Otto Bock HealthCare Acquires OrthoRehab Inc.
Today Otto Bock HealthCare LP announced the acquisition of privately held OrthoRehab, Inc. The purchase combines complementary rehabilitation product lines, corporate cultures and sales strategies to fuel future growth in the North American rehabilitation market.
OrthoRehab, headquartered in Tempe, Arizona, employs 260 people that serve patients recovering from major orthopedic surgery. OrthoRehab’s products utilize continuous passive motion, TENS, NMES and cold therapies to speed recovery.
Otto Bock HealthCare is the world market leader in developing, manufacturing and selling technologically advanced prosthetic and orthotic componentry. The 85-year-old company employs more than 3,400 people in 32 countries, with North American headquarters located in Minneapolis, Minnesota. In addition, Otto Bock has successfully entered the rehabilitation market in Europe and Asia, developing highly specialized mobility and seating solutions for adults and children.
“Acquiring OrthoRehab is a key strategic step in our growth plans for the U.S. rehabilitation market,” states Bert Harman, President and CEO of Otto Bock North America. “OrthoRehab’s sales force will be able to broaden their portfolio while providing a new channel for existing Otto Bock products. We are excited about the growth potential inherent in this deal.”
According to John Hallal, company spokesman for OrthoRehab, “Integrating the specialties of the two companies will create a new delivery system for existing Otto Bock rehab products and provide the resources needed to capitalize on OrthoRehab’s proven sales and service model.”
To maximize the synergistic benefits of the acquisition, management functions of OrthoRehab will be merged with the Minnesota-based North American operations of Otto Bock. The Tempe facility and other OrthoRehab locations will become part of Otto Bock’s network of manufacturing and service centers.
“As we begin the process of integration, there will be many opportunities for expansion as we combine the best of both organizations,” said Harman. “We will be tapping into every employee’s expertise to maximize the synergy of combining the two companies.”
Financial details of the acquisition between the two private companies were not announced.
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*Established in 1958, Minneapolis, Minnesota-based Otto Bock HealthCare is the North American and South American corporate headquarters of Otto Bock Healthcare, GmbH, based in Duderstadt, Germany. The leading international prosthetic and orthotic manufacturer, Otto Bock has more than 3,400 employees worldwide and produces over 20,000 types of prosthetic and orthotic components, foot care technology, rehabilitation and mobility products. (www.ottobockus.com and www.ottobock.ca)
