Aetrex Worldwide, a global leader in comfort and wellness footwear products and technology, is pleased to announce the acquisition of SOLS Systems, a leader and pioneer of medical and consumer-grade 3D printed orthotics and software used for the mass customization of footwear. The acquisition was completed on February 22, 2017.
“After meeting the Aetrex team over a year ago, we quickly realized how their global footprint and decades of industry experience in orthotics and footwear could advance SOLS’ product growth and accelerate our mission of revolutionizing footwear in the coming years.” Kegan Schouwenburg, SOLS Founder and CEO.
Founded in 2013 and based in New York, NY, SOLS’ technology improves the fit and function of footwear. Utilizing computer vision, computational geometry, machine learning, and biomechanics, SOLS’ patented end-to-end platform automatically generates 3D models of an individual’s anatomy based on photos from its imaging system, the first ever available on a smartphone. The 3D models are used to produce custom orthotic devices digitally manufactured on demand. The same technology is used for the production of customized footwear and has outpaced competing efforts inside leading innovation labs. The SOLS team will begin integrating their suite of products immediately, working with Aetrex’s hardware and software engineering teams on their newly launched Albert 3D foot scanner.
“The acquisition of SOLS is consistent with the Aetrex mandate of always providing the most authentic consumer benefits through state of the art technology. The integration of SOLS technology into our footwear and orthotics businesses will allow Aetrex to offer unmatched customization and adjustability across our product lines.” Larry Schwartz, Aetrex CEO.
The acquisition also comes in the wake of SOLS meeting with some challenges late last year when it laid off 20 percent of its workforce, or 14 employees in total across all teams. Aetrex Worldwide on the other hand is a solid company and widely recognized as the global leader in comfort and wellness footwear products. Aetrex designs and manufactures therapeutic, casual, dress, sandal and athletic footwear for both men and women.
The company has also developed industry leading foot scanning devices, including Albert and iStep, designed to accurately measure feet and determine foot type and pressure points. It is also renowned for its over-the-counter Lynco Orthotics system. The New Jersey-based corporation is consistently named one of New Jersey’s Top 100 Privately Held Companies and was also included in NJBIZ’s Top 30 Manufacturing Companies.