OKLAHOMA CITY (AP) -- An Oklahoma City bio-tech company that once aspired to become a leading prosthetics manufacturer is set to close the operation and move its headquarters to Seattle.
The Oklahoman reports the relocation of OrthoCare Innovations LLC will cost eight employees of the company their jobs. CEO Doug McCormack says all of the employees are being offered job placement assistance and severance packages.
McCormack says the company has entered a strategic relationship with a large manufacturer in the very competitive industry. He says details of the new manufacturing operation will be announced in 2014 but that 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.