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Ottobock to acquire Fesia Technology to expand neuro-orthotics portfolio
Ottobock has agreed to acquire Spanish medical device company Fesia Technology in a strategic move to expand its neuro-orthotics portfolio with functional electrical stimulation products. The deal, expected to close within six months, will bring Fesia's wearable FES orthoses for treating neuromuscular issues from conditions like stroke, multiple sclerosis, and cerebral palsy under Ottobock's umbrella. Financial terms were not disclosed. Fesia's devices, including Fesia Walk for foot drop and Fesia Grasp for hand movements, are controlled via a smartphone app for customized stimulation. Ottobock CEO Oliver Jakobi said the acquisition provides an innovative FES technology platform to strengthen the company's role in the growing neurological disease market.