English

Ossur Hf : Össur has completed the acquisition of TeamOlmed

Report this content 
Announcement from Össur hf. No:22/2013
Reykjavik, 1 October 2013

                Össur has completed the acquisition of TeamOlmed


Össur  has completed the acquisition of TeamOlmed, announced on 21 May 2013. All
conditions  have  been  fulfilled  and  TeamOlmed  will be included in the Össur
Consolidation  as of 1 October 2013.  TeamOlmed was acquired for SEK 310 million
(USD 49 million).

Sales  for TeamOlmed for  the full year  2013 are expected to  amount to USD 52
million with an EBITDA margin of 12%. Sales for Q4 are expected to amount to USD
16 million  with an 18-20% EBITDA margin. Sales and EBITDA are seasonally strong
in  Q4. The excess purchase price (Goodwill) amounts to about USD 39 million, of
which  an  estimated  15-20% are  considered  intangible  assets  that  will  be
amortized over a period of approximately 5 years.

TeamOlmed  is  Sweden's  largest  provider  of  O&P  solutions  to patients with
impaired  mobility  and  has  over  300 employees  in  patient  care  centers in
Stockholm, Jönköping, Uppsala and several other locations around Sweden.

Össur press releases by e-mail


If  you wish to  receive Össur press  releases by e-mail  please register at the
following web-site: http://www.ossur.com/investormailings.

About Össur
Össur  (NASDAQ OMX: 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,  prosthetic  limbs  and  compression
therapy.   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

Forward-Looking Statements
This press release includes "forward-looking statements" which involve risks and
uncertainties that could cause actual results to differ materially from results
expressed or implied by these statements. Össur hf. undertakes no obligation and
does not intend to update these forward-looking statements to reflect events or
circumstances occurring after this press release. You are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the
date of this press release. All forward-looking statements are qualified in
their entirety by this cautionary statement.
 

Subscribe