The US FTC confirms the initial decision that the acquisition of a rival lessens competition in the market for microprocessor-driven prosthetic knees (Otto Bock / Freedom)

BUYER BEWARE: FTC ORDERS UNWINDING OF A CONSUMMATED TRANSACTION* What happened? On November 6, 2019, the Federal Trade Commission (“FTC”) voted 5-0 to uphold Administrative Law Judge D. Michael Chappell’s initial decision that Otto Bock HealthCare GmbH’s (“Otto Bock”) acquisition of rival Freedom Innovations LLC (“Freedom”) substantially lessened competition in the market for microprocessor-driven prosthetic knees. Finding that the acquisition already has lessened competition and likely will lead to higher prices and less innovation, the Commission ordered Otto Bock to sell the majority of the Freedom assets to an FTC-approved buyer. Otto Bock completed its acquisition of Freedom in September 2017. The transaction was not subject to the premerger notification requirements of the

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Authors

  • Cadwalader Wickersham & Taft (New York)
  • Cadwalader Wickersham & Taft (Charlotte)

Quotation

Joel M. Mitnick, Ngoc Pham Hulbig, The US FTC confirms the initial decision that the acquisition of a rival lessens competition in the market for microprocessor-driven prosthetic knees (Otto Bock / Freedom), 6 November 2019, e-Competitions Bulletin November 2019 - II, Art. N° 92279

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