Ottobock SE & Co. KGaA, the international listed MedTech company, is acquiring the Patient Care business of Blatchford Ltd. UK in Norway (Blatchford Norway A/S) for a purchase price of approximately EUR 110 million. The transaction will be closed as planned within the next few days.

The acquisition is another step in Ottobock’s successful expansion strategy in the Patient Care business. By acquiring Blatchford in Norway, the company is entering a particularly attractive market in Europe and expanding its internationally leading Patient Care network by a further eight locations.

“We are delighted to strengthen our local presence with 200 new colleagues and to work together to care for patients. As a Patient Care partner, we secure their access to our innovations.

By expanding our existing Patient Care network, we are creating synergies on two levels. New locations benefit from established structures such as centralized fabrication and digital platforms. At the same time, we move closer to our users and gain valuable feedback that flows into our product development,” says Oliver Jakobi, Chief Executive Officer of Ottobock SE & Co. KGaA.

British company Blatchford is a provider of prosthetic solutions and operates its own care centers in the United Kingdom and Norway. The acquisition exclusively covers the Patient Care business in Norway, a market where Ottobock has not previously had a direct presence. The range of services offered at these facilities includes a wide variety of products with the focus of prosthetics and orthotics. With eight locations, around 200 employees and most recently total revenue of approximately EUR 40 million, Blatchford is one of the market leaders in Norway. Their current planning assumptions foresee revenue growth in the high single-digit percentage range per year over the next years. Based on the existing profitability of the business as well as expected synergies, the acquisition will remain at the Ottobock Group's profitability level.

"Norway has been a core part of Blatchford's patient care business for over a decade, and we are proud of the exceptional team and standard of care they have built. Transferring the business to Ottobock gives our Norwegian patients and staff a strong platform for the future – combining world-class local clinical expertise with the scale and resources of a multinational leader in patient care. This transaction allows us to continue our focus on innovation in prosthetics and orthotics," says Paul Roberts, Chief Executive Officer of Blatchford.

Most recently, Ottobock had already successfully integrated local market leaders such as Sahva A/S in Denmark, Livit B.V. in the Netherlands and Vigo in Belgium into its care network.

“With the acquisition of Blatchford in Norway, we are continuing our growth trajectory in Patient Care. In the course of technological developments in the orthotics and prosthetics industry (O&P), close integration between operating surgeons, rehabilitation centers and O&P clinics is becoming increasingly important. Expanding our Patient Care network is therefore a key lever for the scalability of our business model” says Dr. Arne Kreitz, Chief Financial Officer of Ottobock SE & Co. KGaA.