Össur acquires Medi Prosthetics
Reykjavik, 7 September 2016
Össur has acquired Medi Prosthetics from Medi, with effect from 1 September 2016. Medi Prosthetics is a global provider of mechanical lower limb prosthetic components, located in Bayreuth, Germany. In 2015, total sales amounted to EUR 15 million (USD 17 million). The integration of the business is expected to be concluded in 2017.
This acquisition enables Össur to take another step to complete its prosthetics offering and further strengthen its global market position. Medi Prosthetics offers a well-respected mechanical product line with strongholds in the knee and liner segment.
Jon Sigurdsson, President & CEO of Össur:
"We are pleased to welcome the employees of Medi Prosthetics to the Össur team. This acquisition enables us to take another step to complete our prosthetics offering and further strengthen our global market position."
Contact persons:
Jon Sigurdsson, President & CEO Tel: +354 515 1300
Sveinn Solvason, CFO Tel: +354 515 1300
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About Össur
Össur (NASDAQ: OSSR) is a global leader in non-invasive orthopaedics that help people live a life without limitations. Its business is focused on improving people's mobility through the delivery of innovative technologies within the fields of braces, supports and prosthetic limbs. A recognized "Technology Pioneer", Össur invests significantly in research and product development; its award-winning designs ensuring a consistently strong position in the market. Successful patient and clinical outcomes are further empowered via Össur's educational programs and business solutions. Headquartered in Iceland, Össur has major operations in the Americas, Europe and Asia, with additional distributors worldwide. www.ossur.com
About Medi
medi's products and healthcare concepts make it one of the leading manufacturers of medical aids. Around 2,400 employees worldwide make a major contribution to helping people feel better. The product range includes medical compression stockings, adjustable compression care, supports, orthoses, thrombosis prophylaxis stockings, compression garments and shoe insoles. Furthermore, over 65 years' experience in the field of compression technology have been channelled into the development of the sports and fashion product brands CEP and ITEM m6. With its worldwide network of distributors and own branch offices, the company delivers to over 90 countries all over the world. www.medi.de