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Otto Bock HealthCare GmbH takes over Neurodan A/S


March 15, 2005 -- Otto Bock HealthCare GmbH, global leader in exoprosthetics, buys Neurodan A/S, thereby further expanding its leading technological position in its field. The takeover is due to take effect on March 15, 2005.

Neurodan develops innovative neural implants. The company was founded in Aalborg, Denmark, in 1994 by Dr. Thomas Sinkjær (Director of the Center for Sensory-Motor-Interaction at Aalborg University) and Dr. Morten Haugland and is now by the majority owned by NOVI A/S, Novo A/S and Dansk Innovationsinvestering P/S.

The acquisition will allow Otto Bock HealthCare, already global leader in Orthobionics®, to consolidate and develop its technological knowhow in the field of electro-stimulation. Professor Hans Georg Näder, Chairman & CEO, says: 'With the takeover of Neurodan, Otto Bock is securing for itself one of the most groundbreaking sectors in the field of medical and fitting technology. Thanks to Neurodan's technological innovativeness in the field of neural implants, the company is the ideal complement and support for Otto Bock.

Neurodan unites leading scientists from the fields of motor nerve stimulation and sensory nerve reception and maintains strong links with the Center for Sensory-Motor-Interaction (SMI) at Aalborg University.

The company's first pioneering product, ActiGrip a system for the rehabilitation and recovery of the grip function following a stroke will be launched soon. Another product, ActiGait a neural implant for the correction of weak dorsiflexion will soon be available to the European market.


Beginning with the takeover, Neurodan know-how will feed into research and development undertaken by Otto Bock HealthCare GmbH.

Neurodan's headquarters will remain in Aalborg to maintain the company's excellent relationship with Aalborg University, a relationship to be intensified in the years to come.

Background:
Neural implants are electrodes that can be directly attached to nerves in order to register and influence body functions. This allows for the rehabilitation of certain organs following a damage to the central nervous system through diseases or strokes.

Implants gather information from a specific location on the body's nerve tissue. They then interpret this information similarly to the body's natural information processing. In a final step, they return the results in a suitable form to the nerve tissue via the biotechnical contact. All this is, of course, quite a scientific challenge.

Presently around 20 different illnesses can be treated through electrical stimulation of the brain, spinal cord (medulla spinalis) and peripheral nervous system. Until now, however, implants have not been able to record the received nerve signals.

The neural implants developed by Neurodan are in the position to do this.
xx


Publisher Contact Information:

Neurodan A/S (Acquired by Otto Bock HealthCare)
+49 (0)5527 848-1239
joachim.hamacher@ottobock.de

Company profile of Neurodan A/S (Acquired by Otto Bock HealthCare)
Past press releases of Neurodan A/S (Acquired by Otto Bock HealthCare).

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