OrthoCare Innovations, a bio-tech company based at the Presbyterian Health Research Park that once aspired to become a leading prosthetics manufacturer, is set to close the operation and move its headquarters from Oklahoma City to Seattle.
The shutdown will cost eight remaining employees their jobs, all of whom are being offered job placement assistance and severance packages, Chief Executive Officer Doug McCormack said.
“Oklahoma City has been an exceptional partner in the growth of Orthocare Innovations and we give the community the highest recommendation to all of our colleagues in the bioscience sector,” McCormack said. “Recently, we were approached by a large manufacturing entity in this very competitive industry. Therefore, we have entered into a significant strategic relationship with a leading company in the orthotic and prosthetic industry.”
McCormack said details of the new manufacturing operation will be announced in 2014, but added the partnership will provide the company with unmatched manufacturing capability and global distribution. OrthoCare, meanwhile, is set to become a company focused on research operations that are currently performed by its Seattle operation.
OrthoCare Innovations' operation in Oklahoma City dates to when the company, then based in Seattle and Washington, D.C., bought Martin Bionics in 2008. Martin Bionics at the time acted as a research and development arm for Oklahoma City-based Scott Sabolich Prosthetics and Research. McCormack was a longtime Sabolich patient.
In a 2008 column, McCormack called Oklahoma City a destination of choice for patients worldwide seeking state-of-the-art prosthetic care.
Outpatient ROBOTIC HYSTERECTOMY. Trust an experienced Robotic Surgeon.