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Orthotic Holdings, Inc. (“OHI”)

Orthotic Holdings, Inc. (“OHI”), is a leading manufacturer, marketer and distributor of high quality, predominantly custom and branded medical products that treat foot, ankle and leg related conditions and diseases. The company is recognized as a North American market leader with entrenched relationships in each of its core healthcare provider sales channels through the development and deployment of its innovative foot scanning technology solution.


How We Partnered

Transaction Dynamics

A partnership with management to recapitalize the company.  The CEO reinvested his entire proceeds into the transaction.

Investment Thesis

  • 2nd largest company in North American custom orthotics micro-market; dominant company in Canadian chiropractic market
  • Diverse customer base across multiple healthcare channels
  • Platform for continued industry consolidation
  • Significant organic growth opportunity in U.S. with GaitScan technology
  • Long history of revenue growth and strong margins
  • Solid underlying demand drivers

Incline Value Enhancement

  • Expanded product portfolio with three add-on acquisitions: Langer Biomechanics in 2008, River Biomechanics in 2010, and Arizona AFO in 2011
  • Retained operational improvement consultant to assess and map manufacturing plan
  • Enhanced existing scanning technology while adding new solutions to promote recurring revenue
  • Doubled earnings over the investment period
  • Improved EBITDA margins from 15.5% in 2009 to 24.6% in 2012

Markham, ON (Canada)




Specialized Light Manufacturing


September 2008

On behalf of the management team and our employees, I thank Incline Equity Partners for their collaborative partnership that acted as the catalyst for achieving our growth objectives.

Bruce Marrison, Former Chief Executive Officer

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