Ottobock acquires complementary portfolio

DUDERSTADT, Germany – Ottobock, a leading global innovator for prosthetics, orthotics, and exoskeletons, has acquired suitX, which specializes in the research and development of occupational and medical exoskeletons. The portfolios of Ottobock and suitX are complementary and together offer exoskeletons that relieve strain on the body during overhead work and jobs involving lifting. suitX founder and former CEO Dr Homayoon Kazerooni, will remain with the company in the role of chief scientist. “Together with suitX, Ottobock´s exoskeletons business Paexo will become a world leading provider of exoskeletons in production, logistics, servicing, and the trade sector,” said Philipp Schulte-Noelle, CEO of Ottobock. “We will jointly create significant socio-economic benefits by improving occupational health for employees while reducing sickness absence and treatment costs for companies and healthcare systems.” suitX will become part of Ottobock Bionic Exoskeletons (formerly Ottobock Industrials), the company's division for the development of occupational exoskeletons. The management of Ottobock´s global Bionic Exoskeletons business, which runs under the brand name Paexo, will continue to be handled from Duderstadt, Germany.