Ottobock Legal Counsel

He oversees a lean legal department — only Li, two other lawyers, and a few non-lawyers, but that could change as Ottobock is active on the acquisitions front. From 2008 to the end of 2014, he was Deputy General Counsel, Americas, at Zimmer Holdings Inc., a leading medical technology company, also in Austin. Then came the move to Ottobock, which conveniently moved its North American headquarters from Minneapolis to the Texas capital, where Li, his wife, twin daughters, and son lived. “If you`re interested in a challenging legal role, go to a medical device company,” he says. “The product, the payer and the customer are all regulated in one way or another, which tests our ability to improve and adapt to our market. “It`s so touching,” says Li, who has spent most of his legal career as in-house counsel for companies that manufacture medical devices, and joined Ottobock in January 2015. The acquisitions add to Li`s to-do list as new companies need to be integrated into Ottobock`s innovative and ambitious culture to better serve people with mobility issues. For the lawyer of the market leader in a constantly changing industry, this is all part of everyday business. But it`s also satisfying. “My company and I need to be strategic in evaluating how our products can be influenced by technological innovation, patient and supplier needs, and regulations,” Li said.

“My role as General Counsel requires a combination of business, legal and strategic thinking, which makes the position challenging and invigorating.” While Ottobock is fortunate to have world-class scientists and business people developing these products, bringing them to market requires experience and sound legal and strategic advice to navigate the increasingly complex regulatory and compliance environment. Finding this balance between innovation and regulation is of particular concern to Li. In most tech industries, the former typically outperforms the latter, but the stakes may be higher for medical device manufacturers who anticipate a future need. The 46-year-old son of a Brooklyn chemist was considering a career in science and studying psychology at UCLA, but the law prevailed. After receiving his J.D. from Vanderbilt University in 1996, Li worked for various law firms from 1996 to 2006, practicing primarily corporate, securities, and M&A law at Gray Cary Ware & Freidenrich and then DLA Piper Rudnick Gray Cary, before choosing an executive position at Abbott Laboratories in Austin from 2006 to 2008. There must be times when Albert Li wishes there wasn`t much need for Ottobock`s ingenuity. But when that need exists, he is proud to serve as general counsel and chief compliance officer for the North American operations of the venerable German company that began manufacturing artificial legs made so necessary by World War I in 1919. Perhaps this is the same sentiment that motivated Dr.

Otto Bock a century ago. If he were alive today, Dr. Otto Bock is amazed at what has become of the company he founded in Berlin almost a century ago. These first artificial legs look as much like current offerings as the first automobiles look like today`s high-tech vehicles; Wood and plastic have long since given way to microprocessor-controlled prostheses, designed to adapt their passive resistance to the patient`s gait. It`s also nice to see how the media portrays amputees as symbols of the strength they really are, and how Ottobock plays such a role in reclaiming freedom of movement. Freedom of movement, quality of life and independence: this is what we look for every day at Ottobock: human, reliable and inventive! Since mid-May 2022, Dr. Arne Kreitz has been Chief Financial Officer and member of the Board of Directors of Ottobock. As CFO, he is responsible for business process management in addition to finance, corporate audit and risk management. Under his leadership, the focus areas of strategy and mergers and acquisitions as well as financial planning were consolidated into a single department. “We regularly receive visits from people who express their love and appreciation for their Ottobock machines. Amputees show an affinity for their prosthesis differently than patients with other medical devices I have worked with.

It is more personal than a patient with a heart stent or spinal implant. After all, people can see the devices and users can feel them. Jakobi has been with the company for over 30 years.