OrthoCare Acquires Martin Bionics

OrthoCare Innovations LLC, a prosthetic research company with offices in Washington DC, Seattle, Washington, and Oklahoma City, Oklahoma, announced the acquisition of Martin Bionics LLC, Oklahoma City. OrthoCare Innovations will assume operations of the Martin Bionics facilities in the Presbyterian Health Foundation Research Park with plans to expand operations in Oklahoma City, the company said. Financial terms were not released.

"This is a monumental time for our field. The assemblage of many great minds, focused together to tackle major outstanding issues, will have a dramatic effect on the lives of countless orthotics and prosthetics users," said Jay Martin, CP, president of Martin Bionics who joined OrthoCare Innovations as director of its Advanced Systems Group.

OrthoCare Innovations CEO Doug McCormack said, "Jay Martin and his group have proven themselves adept at developing creative technologies and products that improve not only the quality of prosthetic devices, but also the quality of lifefor consumers. We are confident that coupling this ingenuity with our existing research capabilities under the scientific leadership of Chief Technology Officer David Boone will quickly make OrthoCare Innovations a significant catalyst for innovation in the field."

OrthoCare Innovations adds a number of strategic assets with this acquisition, including 13 patents pending in the field of prosthetics and existing research collaborations to its current patents, patents pending, and products that are in the research pipeline. These new initiatives include research being conducted for the Defense Research Projects Agency's (DARPA) Revolutionizing Prosthetics Program and the Oklahoma Center for the Advancement of Science and Technology in conjunction with Oak Ridge National Laboratories.