Website- https://www.freedom-innovations.com/
FTC orders Otto Bock to divest Freedom Innovations assets from recent acquisition (press release)
The Federal Trade Commission yesterday upheld an Administrative Law Judge’s decision that stated assets in the acquisition of Freedom Innovations by Otto Bock Healthcare North America must be divested.
The FTC ordered Otto Bock to divest the assets of Freedom Innovations to an FTC-approved buyer. According to the commission, both companies were top sellers of prosthetic knees with microprocessors (MPKs). The acquisition created anticompetitive harm in the microprocessor prosthetic knee market, which could lead to higher prices and less innovation. It was not reportable under the Hart-Scott-Rodino Act.
“Based on our de novo review of the facts and law in this matter, we find that the acquisition is likely to, and indeed already has, substantially lessened competition in the relevant market for MPKs,” the FTC’s opinion and final order states. “We hold that, to fully restore the competition lost from the acquisition, [Otto Bock] must divest Freedom’s entire business with the limited exceptions granted by the [Administrative Law Judge].”
The di...
