Ottobock SE & Co. KGaA, the international, publicly listed MedTech company, is acquiring the Spanish company Fesia Technology, S.L. (Fesia) from its current owners Fik Advanlife, S.L. / Fundación Tecnalia Research & Innovation / Basque Fondo De Capital Riesgo / Neurosasun Investments, S.L. / Construcciones Valeriano Urrutikoetxea, S.L.U. The closing of the transaction is expected to take place in approximately six months. The parties have agreed not to disclose the purchase price.

Fesia, headquartered in Donostia/San Sebastián, Spain, employs around 20 people. The company develops and markets functional electrical stimulation systems, providing them to patients with neurological diseases or injuries to the nervous system.

With the acquisition of Fesia, Ottobock is expanding its own neuro-orthotics portfolio to include Functional Electrical Stimulation (FES) products. These orthoses are used for stroke, multiple sclerosis, cerebral palsy, spinal cord injury, and other neurological conditions and injuries affecting the lower or upper limbs. FES orthoses send electrical impulses that stimulate weakened muscles to generate functional, natural movement. At the same time, the impulses support the formation of new neural connections.

“Neurological conditions are already, and will continue to be, a major topic in the orthotics and prosthetics industry. The number of people worldwide affected by conditions such as stroke, multiple sclerosis, cerebral palsy, or spinal cord injuries is steadily increasing. We have therefore made providing care for people with neurological conditions a core part of our mission,” says Oliver Jakobi, Chief Executive Officer of Ottobock SE & Co. KGaA.

“The ambition of Fesia Technology has been to push the boundaries of functional electrical stimulation. Joining Ottobock creates a unique opportunity to scale this innovation globally, setting new standards in neurorehabilitation and human mobility,” says Haritz Zabaleta, CEO of Fesia Technology.

Investment in research & development

By acquiring Fesia, Ottobock is further expanding its own neuro-orthotics portfolio while also creating the basis for continued technological development.

“As a global leader in neuro-orthotics, offering a comprehensive portfolio is essential to us. The acquisition of Fesia provides us with access to an innovative and deployable FES technology platform, enabling us to play an even stronger role in shaping the growing market for neurological diseases through our own capabilities. In doing so, we further expand our position as an innovation leader,” says Jakobi.