German medical device manufacturer Ottobock announced today that it has reached a deal to acquire SuitX, an exoskeleton startup in the Bay Area.This deal is meaningful to Ottobock, because it also manufactures exoskeletons, as well as prosthetics and orthotics.
SuitX is a derivative product of the Robotics and Human Engineering Laboratory at the University of California, Berkeley, founded by Homayoon Kazerooni, a professor of mechanical engineering. Before founding the company and assuming the role of CEO in 2012, Kazerooni founded Ekso Bionics in 2005. The company went public as early as 2014.
Both companies effectively operate in the same category and produce robotic exoskeletons designed for two different purposes: work assistance and healthcare. SuitX currently produces three working exoskeletons (back, shoulders and legs) and two health-related systems: Phoenix to assist walking and ShieldX to relieve the stress of carrying heavy lead aprons. Recently, it has begun experimenting with a robotic knee brace called Boost Knee.
“I feel very lucky that I am now placed in a position to provide medical and industrial exoskeleton products that improve our lives worldwide,” Kazerooni said in a press release linked to today’s announcement. “This step is not only It is the success of SuitX and the success of the University of California, Berkeley. Here, for the benefit of mankind all over the world, entrepreneurial efforts have been cultivated to the greatest extent. I look forward to working with Ottobock to bring our technology to the international community to improve our lives. quality.”
Ottobock produces its own exoskeleton, including the Paexo shoulder, which is designed to support the neck, back and shoulders when working at heights. In recent years, exoskeletons have been a hot topic.
All that is known about this transaction is that Ottobock acquired 100% of SuitX, but the financial details have not been disclosed.