Ardian and BNP Paribas developpement invest in Proteor, a french leader in external orthopedics

Paris, January 13, 2021 - Proteor, a major player in the manufacture and distribution of prosthetics and orthotics, has chosen to partner with Ardian, a world leading private investment house, and BNP Paribas Développement, the investment arm of BNP Paribas Group. 

Through this investment, Ardian and BNP will support the company in the next phase of its development and in the acceleration of its international expansion, particularly in Europe and North America.

Founded more than 100 years ago, Proteor is a family business headquartered in Dijon, Burgundy, France. The company’s core business is in the manufacturing and distribution of orthopedic devices, with the Group providing tailor-made equipment to meet the needs of patients. Proteor employs more than 900 people and generates more than 20% of its turnover abroad, with operations in France, Europe, the United-States, China and Japan.

Proteor’s growth has been possible thanks to a network of more than 70 orthopedic centers in France and across Europe, which are staffed by more than 200 orthopedic professionals. 

The company is also active in the design, manufacturing and marketing of components and materials for prosthetics and orthotics. Proteor has sites in Seurre, France and a factory in Tempe, Arizona in the US. The Group is actively engaged in innovation in this field and has filed more than 100 patents since its creation.

The Group has been focused on expansion in recent years. In 2016, it acquired Lecante, a network of orthopedic centers in France, to extend its market coverage and acquire new software expertise for orthoprosthesists), and made a first acquisition in the United-States in. In 2018, Proteor acquired Ability Dynamicswhich enabled it to expand its product offering and strengthen its presence in the US market.

Now, with the backing of Ardian and BNP Paribas Développement, Proteor will be able to accelerate its international expansion by acquiring Freedom Innovation in the US from Otto Bock Healthcare North America. This transaction is in line with Proteor's long-term strategy and will help further strengthen its components and materials division, its production capacity and its technological know-how, particularly in microprocessor-controlled knees and new-generation ankle and foot prosthetics.

"Ardian and BNP Paribas Développement were instrumental in negotiating and securing the Freedom Innovations acquisition. With their help, we were also able to complete this first capital opening alongside the founding family. This marks the first step in a collaboration that aims to make Proteor one of the world leaders in external orthotics. » said Jean-Fraçois Cantero and Edouard Archambeaud for Proteor.

"Proteor is a French flagship in external orthopedics, which has been able to expand thanks to innovative solutions particularly adapted to patients' needs. We are pleased to be partnering with the company in this new phase of international development and consolidation of its technological assets and help Proteor become one of the world leaders in its market", continued Alexis Saada and Frédéric Quéru for Ardian Growth. 

"This partnership reinforces a long-standing relationship based on trust with the management and the founding family. We are delighted to support Proteor in pursuing its innovation strategy and in its new phase of international growth." concluded Gilles Poncet and Guillaume Wolf for BNP Paribas Développement.