Ossur Hf : Össur's products exempt from the US medical device tax
Announcement from Össur hf. No:33/2012
Reykjavik, 7 December 2012
Össur's products exempt from the US medical device tax
This week the U.S. Department of Treasury issued a final rule clarifying the applicability of a medical device tax created by the Affordable Care Act, the legislation that reforms U.S. health care. The Department of Treasury has confirmed that the 2.3% tax on medical devices does not apply to either prosthetics or orthotic devices While Össur does sell other products that may still be subject to the tax, the impact on Össur is not expected to be material as these products generate limited sales.
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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, including the Flex-Foot Cheetah carbon fiber running prostheses used by "The Blade Runner," renowned double-amputee sprinter Oscar Pistorius. 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.