Ottobock
Ottobock SE & Co. KGaA, formerly Otto Bock, is a company based in Duderstadt Germany, that operates in the field of orthopedic technology. It is considered the world market leader in the field of prosthetics and one of the leading suppliers in orthotics, wheelchairs and exoskeletons.[2]
| Company type | SE & Co. KGaA |
|---|---|
| Industry | Orthopaedic |
| Founded | January 13, 1919 in Berlin, Germany |
| Founder | Otto Bock |
| Headquarters | , Germany |
Area served | More than 50 countries |
Key people |
|
| Products | wheelchair, prosthetic, artificial limbs |
| Revenue | €1.3 billion (2022 [1]) |
| Owner |
|
Number of employees | 8367 (2019) |
| Website | ottobock |
In 2022, the Ottobock Group as a whole generated sales of €1,3 billion.[3] As of 2019[update] they had 8,367 employees worldwide.[4]
History edit
Foundation until 1945 edit
The company was founded on January 13, 1919[5] under the appellation Orthopädische Industrie GmbH, headquartered in Berlin. Initiated by a group surrounding a manufacturer named Otto Bock, who hailed from Krefeld,[6] its objective was to supply prostheses and orthopedic products to the many thousands of war invalids of World War I.[7] Bock acted as production manager during this phase. He moved into the management of the company in 1924 and finally took over as sole managing director in 1927.[6] At the end of October 1933, Bock, who had joined the NSDAP in May, had the old company liquidated and paid out the remaining shareholders. The company was renamed Orthopedic Industry Otto Bock in Königsee.[7]
In 1920, production operations were relocated to Königsee in Thuringia, where at times, a workforce of up to 600 people was employed. Faced with high demand that could not be met with traditional handicraft or artisanal methods, Otto Bock began the mass-production of prosthetic components, thus laying the foundation for the orthopedic industry. With this evolution of the industry, new materials began to be used in production, notably aluminum, which found early application in prosthetic construction during the 1930s.
Max Näder, after completing his secondary education in 1935, commenced his professional journey by undertaking training as an orthopedic mechanic and industrial clerk at Ottobock. In 1943, during a period of wartime reprieve, he entered into matrimony with Marie Bock, the younger sister of the company's founder. It is noteworthy that during the tumult of World War II, Ottobock resorted to the utilisation of forced laborers to sustain its operational endeavors.[8]
1946-1989 edit
After World War II, when all the family's private assets as well as the factory in Königsee had been confiscated by the Soviet occupiers, the company settled in Duderstadt in southern Lower Saxony in 1946. In 1950, plastics were introduced into production for the first time. The invention of a braking knee joint with high stability, called the Jüpa knee, brought the economic breakthrough after 1949.[9] Together with a newly developed balance device and two other apparatuses for prosthetic alignment, it was also in demand on the American market. In 1955, Ottobock exported the first 500 Jüpa knees to the U.S.[10][11] The establishment of an American branch in Minneapolis in 1958 marked the beginning of the company's international sales structure.
In 1965, Max Näder introduced myoelectric arm prostheses to the market. For the first time, light and fragile as well as heavy objects could be grasped with them. In myoelectrics, weak electrical voltages control the prosthesis.[12][13] Another development was a fitting solution for modular leg prostheses. The pyramid adapter, patented in 1969, connects the prosthetic foot, knee joint and stem and allows static corrections as well as the exchange of the modules. It remains an integrative element of innovative joints to this day.[14]
1990 until today edit
After reunification, Hans Georg Näder took over the management of the family company from his father Max Näder, the son-in-law of company founder Otto Bock, in 1990. In the same year, the company was able to reacquire the old Ottobock site in Königsee. Today, manual wheelchairs, power wheelchairs, rehabilitation products for children and seat shell bases are produced at the former headquarters.
After a five-year development period, the world's first microprocessor-controlled knee joint, the C-Leg, was presented at the World Prosthetics Congress in Nuremberg in 1997.[15] The company's 90th anniversary was also marked by the launch of the C-Leg.
To mark the company's 90th anniversary, the newly built Science Center Medical Technology was inaugurated in Berlin in June 2009. Until 2019, this building near Potsdamer Platz served both as a venue for the public exhibition Begreifen, was uns bewegt, and as a venue for congresses and seminars.[16] On January 1, 2009, the subsidiary Otto Bock Mobility Solutions GmbH based in Königsee emerged from HealthCare. At the end of 2011, the old logo with the original signature of Otto Bock was replaced by a new international logo.[17]
With the further development of electronic knee joint components and mechatronic prosthetic feet, better individual fitting was made possible. In 2011, people were able to safely walk backwards, overcome obstacles, or climb stairs in alternating steps with a prosthesis for the first time.[18]
In 2016, Ottobock was banned from operating in parts of Bosnia following an investigation by the Centre for Investigative Reporting that revealed the company was implicated in a scandal involving the misuse of public health funds in which prosthetic limb users were forced to buy Ottoboc's products.[19][20]
In February 2017, Ottobock purchased the myoelectric arm or hand prostheses developed under the product name BeBionic from the British medical technology company Steeper. Since May 2017, the prostheses have been part of Ottobock's product range.[21][22] In April 2017, Ottobock acquired Boston-based BionX Medical Technologies that manufactured a prosthetic foot and ankle product that utilises robotics technology.[23] In June 2017, Swedish venture capitalist, EQT, took a 20 percent stake in Ottobock.[24]
In 2018, Ottobock acquired a 51 percent stake in Pohlig GmbH, a medium-sized orthopedic company based in Traunstein, Bavaria, and one of the most important orthopedic technology companies in Germany.[25] In the same year, Ottobock acquired complete ownership of the orthopedic specialist.
Following a series of acquisitions, Ottobock reported in 2019 that for the first time in its history the company's sales exceeded €1 billion.[26][27]
In November 2019, the Federal Trade Commission (FTC) forced Ottobock to divest all assets that it acquired via its acquisition of industry competitor Freedom Innovations LLC that was initially completed in September 2017 for breaking competition laws, incurring a damage of €78.1 million to Ottobock.[28][29]
In December 2019, the European Investment Bank (EIB) announced that it will provide up to €100 million to Ottobock to support the company's development of new products.[30]
With a new generation of orthoses from 2018 from the company, sensor technology regulates the stance and swing phase of the leg throughout the gait cycle.[31] This helps to achieve a nearly natural gait pattern. An exoskeleton, the first product of the new Ottobock Bionic Exoskeletons business unit, relieves the strain of overhead work.[32][33]
Ottobock expanded its exoskeletons business after acquiring US-based exoskeleton startup SuitX, a spinoff from Berkeley Robotics and Human Engineering Laboratory, in November 2021.[34]
In May 2020, an Ottobock subsidiary based in Russia was fined by Russian anti-monopoly authorities for suspected cartel collusion which gave Ottobock and its co-conspirators a monopoly over state tenders for prosthetics, worth 168.1 million Russian Roubles.[35][36]
Corporate affairs edit
Ownership edit
The largest shareholder of Ottobock SE & Co. KGaA is Näder Holding GmbH & Co. KG, which is headquartered in Duderstadt. It is 100 percent owned by the owner family Näder, the direct descendants of the company founder Otto Bock. A further 20 percent is held by the Swedish financial investor EQT.[37]
Hans Georg Näder has publicly stated that he intends to float Ottobock via an initial public offering (IPO) scheduled for 2022, despite previously announcing the intention to take Ottobock public in 2015.[38][39] In February 2022, the company delayed the IPO to September 2022.[40] According to Reuters, Ottobock announced in May 2022 that it would not pursue the IPO due to market conditions, while company insiders claimed the company is unlikely to reach the target valuation of five to six billion euros.[41]
Management edit
The Board of Directors manages the business of Ottobock SE & Co. KGaA and determines the basic guidelines and strategic direction of the company. It consists of four non-executive directors and currently two of the four executive directors (CEO/CSO and CFO). The Chairman of the Board of Directors is Hans Georg Näder.[42]
The company's Supervisory Board is European co-determined and consists of six shareholder representatives and four employee representatives. It monitors the activities of the board of directors. The supervisory board is chaired by Bernd Bohr, long-time head of the automotive division of the Bosch Group.[43] Other members include Gesche Joost and Michael Kaschke.[44][45]
The company employs four executive directors: Oliver Jakobi, chief executive officer (CEO) and chief revenue officer (CRO),[46] Arne Kreitz, chief financial officer (CFO),[47] Arne Jörn chief operating officer (COO) and chief technology officer (CTO) and Martin Böhm chief experience officer.[48][49] Philipp Schulte-Noelle is a former senior executive of German healthcare public company Fresenius, who was appointed as the CEO of Ottobock in 2019 amid the plan to take Ottobock public.[50] Kathrin Dahnke was hired by Ottobock in July 2021 after she left her position as CFO at German electric lights manufacturer Osram.[51]
In May 2022, Kathrin Dahnke, Philipp Schulte-Noelle and Andreas Goppelt were ousted from the company following the intervention by Hans Georg Näder, who opposed with the plan to take the company public in 2022.[52] Kathrin Dahnke told reporters just days before her departure that Ottobock still intends to go public.[53]
Locations edit
As of the end of 2019, Ottobock employed more than 8,000 people worldwide. In addition to the corporate headquarters in Duderstadt, Ottobock has other Germany-based locations in Königsee, Hanover, Traunstein and Berlin. A competence center and research and development workshop are located in Göttingen.[54]
As of February 2022, the company operates a total of almost 60 sites in North and South America, Europe, Asia, Africa and Australia. Ottobock SE & Co. KGaA is the global market leader in technical orthopedics/prosthetics, with sales and service locations in more than 60 countries.[55]
Paralympic Games edit
Ottobock is an official international partner to the International Paralympic Committee (IPC) since 2005, and has been providing technical services at the Paralympic Games since 1988.[56]
The 2016 Paralympic Games in Rio de Janeiro was the 13th games at which it provided technical services.[57] This involved shipping 18 tonnes (18 long tons; 20 short tons) of equipment, including 15,000 spare parts, 1,100 wheelchair tyres, 70 running blades and 300 prosthetic feet, 300 kilometres (190 mi) from Duderstadt to the port at Bremerhaven, 10,100 kilometres (6,300 mi) by sea to Santos, and then 500 kilometres (310 mi) by road to Rio de Janeiro.[58] At Seoul in 1988, four Ottobock technicians carried out 350 repairs;[56] in Rio de Janeiro in 2016, 100 technicians from 29 countries speaking 26 languages carried out 3,361 repairs for 1,162 athletes, including 2,745 repairs to wheelchairs, 438 to prosthetics, and 178 to orthotics.[58]
In Rio on 10 September, the IPC's president, Sir Philip Craven, announced that Ottobock had agreed to extend its world-wide partnership to the end of 2020, encompassing the 2020 Paralympic Games in Tokyo.[59]
References edit
- ^ "Ottobock grows by around 12 percent in 2022 – another year of profitable growth". Ottobock. 28 March 2023.
- ^ "Ottobock: Weltmarktführer in Prothetik über Innovation | ABA - Invest in Austria". Investinaustria.at. Austrian Business Agency. Retrieved 2 February 2022.
- ^ Florstedt, Merle (28 March 2023). "Ottobock grows by around 12 percent in 2022 – another year of profitable growth". corporate.ottobock.com. Retrieved 25 March 2024.
- ^ Konzernjahresabschluss der Näder Holding GmbH & Co. KG per 31 December 2019, veröffentlicht auf bundesanzeiger.de, retrieved 9 December 2021.
- ^ "Meilensteine unserer Geschichte". Ottobock.de (in German). Retrieved 2 February 2022.
- ^ a b magazin, Dietmar Palan, manager (21 July 2023). "(m+) Ottobock: Die unbekannte Nazivergangenheit des Prothesenkönigs". www.manager-magazin.de (in German). Retrieved 28 October 2023.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ a b Lorenz Maroldt (1 September 2013), "Mit Holzbeinen nach Berlin", Der Tagesspiegel Online (in German), ISSN 1865-2263, retrieved 2 February 2022
- ^ Jonas Viering: Weg vom Mitleid. In: Die Zeit, Nr. 12/2009
- ^ "Firmengeschichte des Prothesenherstellers Otto Bock Mit Holzbeinen nach Berlin". Der Tagesspiegel. 1 September 2013. Retrieved 28 July 2016.
- ^ Alfred Weinzierl (2 May 2017), "Otto-Bock-Chef Hans Georg Näder: Unternehmer, Draufgänger, Weltbürger", Der Spiegel (in German), ISSN 2195-1349, retrieved 2 February 2022
- ^ "Menschen Mobilität zurückgeben - damals wie heute das Ziel - Wirtschaft & Finanzen - Göttinger Tageblatt" (in German). Retrieved 2 February 2022.
- ^ "Seit Ende der 60er befasst sich Ottobock mit der Myoelektrik" (in German). Retrieved 2 February 2022.
- ^ "Im Portrait: 100 Jahre Ottobock – eine Geschichte der modernen Orthopädietechnik". Healthcapital.de (in German). October 2019. Retrieved 2 February 2022.
- ^ T. Schmalz, J. Sottong, M. Bellmann, C. Moenicke (2 June 2016). "Ein neuartiger Prothesenfuß für den Breitensport – erste Erfahrungen und Resultate biomechanischer Tests". Orthopädie Technik (in German). Retrieved 2 February 2022.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ "Prothesensystem C-Leg schreibt einzigartige Erfolgsstory". Management-krankenhaus.de. Management-Krankenhaus. 25 August 2011. Retrieved 2 February 2022.
- ^ "Science Center Berlin". ottobock.com (in German). Retrieved 21 January 2019.
- ^ Hanne-Dore Schumacher: Otto Bock wird weltweit lesbar. In: Göttinger Tageblatt, 8 September 2011.
- ^ "Dem nächsten Schritt vertrauen". Maxongroup.de (in Swiss High German). Retrieved 2 February 2022.
- ^ novinarstvo, Centar za istraživačko (2 October 2020). "Ljekar i direktori ortopedskih kuća optuženi za organizovani kriminal".
- ^ novinarstvo, Centar za istraživačko (30 January 2016). "Doktor za prevare".
- ^ "Ottobock acquires BeBionic from Steeper". healio.com. Retrieved 21 June 2017.
- ^ Göttinger Tageblatt, Eichsfelder Tageblatt, Göttingen, Eichsfeld, Niedersachsen, Germany. "Ottobock kauft BeBionic von Steeper – Goettinger-Tageblatt.de" (in German). Retrieved 21 June 2017.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ "MIT's Hugh Herr Reveals Joys (and Challenges) of Commercializing Bionic Limbs". Robotics Business Review. 29 September 2020.
- ^ "EQT kauft Ottobock-Anteile". Goettinger-tageblatt.de (in German). 25 June 2017. Retrieved 2 February 2022.
- ^ "Festakt zum 100-jährigen Jubiläum der Pohlig GmbH". Chiemgau24.de (in German). 19 February 2020. Retrieved 2 February 2022.
- ^ Barnett, Calvin (3 June 2020). "Wheelchair growth helps Ottobock exceed one billion in sales but COVID-19 stalls 2020 momentum".
- ^ "Ottobock exceeds one billion in sales for the first time in 2019". corporate.ottobock.com.
- ^ "FTC Commissioners Unanimously Find that Consummated Merger of Microprocessor Prosthetic Knee Companies Was Anticompetitive; Assets Must Be Unwound". Federal Trade Commission. 5 November 2019.
- ^ Schwarzer, Ursula (21 November 2019). "(m+) Ottobock und EQT: Hans Georg Näder jubelt trotz Debakels". Manager Magazin.
- ^ "Press corner". European Commission - European Commission.
- ^ "Beinorthese C-Brace verschafft neue Möglichkeiten der Aktivitäten". RAS-Team Melle (in German). 22 November 2019. Retrieved 2 February 2022.
- ^ "Healthtech: Ottobock stärkt Exoskelett-Expertise mit Übernahme von SuitX". Kma-online.de (in German). Georg Thieme Verlag KG. 3 November 2021. Retrieved 2 February 2022.
- ^ Peter Königsreuther (16 November 2021). "Zufall Logistics hat Exoskelett von Ottobock ausgiebig getestet". Maschinenmarkt.vogel.de (in German). MM MaschinenMarkt online. Retrieved 2 February 2022.
- ^ "Ottobock set to acquire fellow robotic exoskeleton maker SuitX". TechCrunch. 2 November 2021.
- ^ "У картеля отстегнулся протез". Kommersant. 1 June 2020.
- ^ https://n-novgorod.fas.gov.ru/news/18273
- ^ Antonia Kögler (26 June 2017). "EQT steigt bei Familienunternehmen Otto Bock ein". Finance (in German). Retrieved 2 February 2022.
- ^ magazin, Thomas Werres, Dietmar Palan, manager (4 January 2022). "(m+) Donner und Rauch: Wie der dem Geld zugeneigte Großeigner Hans Georg Näder die Börsenstory von Ottobock stützt". Manager Magazin.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ "German prosthetics firm Ottobock eyes IPO in 2017 - CEO in Focus". Reuters. 10 July 2015.
- ^ Farr, Emma-Victoria; Hübner, Alexander (19 February 2022). "Germany's Ottobock to wait until September to list amid choppy markets - sources". Reuters.
- ^ "Germany's Ottobock delays IPO due to market turmoil". Reuters. 19 May 2022.
- ^ "Die Unternehmensführung der Ottobock SE & Co. KGaA". ottobock.com (in German). Retrieved 2 February 2022.
- ^ "Ottobock: Dr. Bernd Bohr wird Aufsichtsratschef" (in German). 25 October 2017. Retrieved 2 February 2022.
- ^ "Portrait Prof. Dr. Gesche Joost". Weizenbaum-institut.de (in German). Retrieved 2 February 2022.
- ^ "Führungsspitze: Ottobock stellt europäische und deutsche Leitung neu auf". Kma-online.de (in German). 17 June 2021. Retrieved 2 February 2022.
- ^ Kurtz, Tobias (19 May 2022). "Oliver Jakobi übernimmt als Interims-CEO bei Ottobock". gesundheitsprofi.de (in German). Retrieved 6 July 2022.
- ^ "Ottobock Duderstadt: Arne Kreitz ist neuer CFO". www.goettinger-tageblatt.de (in German). 18 May 2022. Retrieved 6 July 2022.
- ^ generator, meta-tags (22 May 2022). "Arne Jörn wird CTO/COO bei Ottobock - FAMILIENUNTERNEHMEN im FOKUS" (in German). Retrieved 6 July 2022.
- ^ "Medizintechnik-Spezialist Ottobock: Martin Böhm soll Kunden digital erreichen" (in German). 18 June 2021. Retrieved 2 February 2022.
- ^ "Ottobock makes Schulte-Noelle permanent CEO as it eyes IPO". Reuters. 22 January 2019 – via www.reuters.com.
- ^ Magazin, FINANCE (21 July 2021). "Ottobock: Kathrin Dahnke übernimmt CFO-Posten von Jörg Wahlers".
- ^ magazin, manager (19 May 2022). "Ottobock: Hans Georg Näder entlässt Philipp Schulte-Noelle und Kathrin Dahnke". Manager Magazin.
- ^ magazin, Thomas Werres, Dietmar Palan, manager (26 May 2022). "(m+) Ottobock: Hans Georg Näder sagt die Börsenpläne ab und verprellt das Toppersonal". Manager Magazin.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ "Beide Seiten bringen ihre Stärken ein - Wirtschaft & Finanzen". Goettinger-tageblatt.de (in German). 8 February 2019. Retrieved 2 February 2022.
- ^ Florian Langenscheidt, Bernd Venohr (Hrsg.): Lexikon der deutschen Weltmarktführer. Die Königsklasse deutscher Unternehmen in Wort und Bild. Deutsche Standards Editionen, Köln 2010, ISBN 978-3-86936-221-2.
- ^ a b "Ottobock Paralympic Games Fact Sheet" (PDF). Ottobock. Retrieved 11 October 2016.
- ^ "Ottobock announced as the Official Provider for the Rio 2016 Paralympic Games". International Paralympic Committee. 8 September 2014. Retrieved 11 October 2016.
- ^ a b "Today in the Ottobock Repair Service Centers". Ottobock. Retrieved 11 October 2016.
- ^ "Ottobock, IPC extend partnership until the end of 2020". 10 September 2016. Retrieved 19 October 2016.
External links edit
- Wikinews tours London Paralympic Village wheelchair repair workshop
- Official website