Ottobock to acquire suitX.

Ottobock, a prosthetics company, agreed to acquire suitX, a robotic exoskeletons for the medical and industrial markets developer. Financial terms are not disclosed. “Together with suitX, Ottobock´s exoskeletons business Paexo will become a world leading provider of exoskeletons in production, logistics, servicing, and the trade sector. 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. This transaction increases our footprint and network in North America and comes at the perfect time as we expect the market for occupational exoskeleton solutions to grow dynamically in the coming years,” Philipp Schulte-Noelle, Ottobock CEO.