Össur hf: Össur closes acquisition of College Park Industries
1 June 2020
Össur closes acquisition of College Park Industries
As previously announced, Össur signed an agreement to acquire College Park Industries in July 2019 and the acquisition was approved by the Federal Trade Commission (FTC) in April 2020. The transaction has now been officially closed and College Park is now wholly owned by Össur. As part of the transaction, the Espire Elbow line has been acquired by UK-based Steeper Group. College Park’s pro-forma FY2019 sales excluding the Espire sales amount to approximately USD 20 million.
College Park is a global provider of prosthetic devices and supporting services headquartered in Michigan, USA. As previously communicated, College Park will largely remain independent and continue to diligently serve its customer base, while allowing the combined entity to achieve strategic efficiencies. Össur remains committed to growing the College Park brand globally over the coming years. The acquisition is yet another display of Össur’s commitment to elevate customer experience and improving people’s mobility.
Further information
David Hreidarsson, Investor Relations Manager, dhreidarsson@ossur.com, +354 661 8225
Helga Danielsdottir, Investor Relations Analyst, hdanielsdottir@ossur.com, +354 766 4959
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About Össur
Össur (Nasdaq Copenhagen: OSSR) is a global leader in non-invasive orthopaedics that help people live a life without limitations. A recognized “Technology Pioneer,” Össur focuses on improving people’s mobility through the delivery of innovative technologies in Prosthetics and Bracing & Supports, by investing significantly in research and product development to create award-winning designs with consistently strong market positions. Successful patient and clinical outcomes are further empowered via Össur’s educational programs and business solutions. As part of Össur’s long-standing commitment to social responsibility, the company has been a signatory to the United Nations Global Compact since 2011 and participates in the Nasdaq Nordic and Baltic exchanges’ voluntary guidelines for Environment, Social and Corporate Governance (ESG). Össur is headquartered in Iceland, with major operations in the Americas, Europe and Asia, and additional distributors worldwide. www.ossur.com
About College Park Industries
College Park Industries is an established global provider of broad and competitive prosthetic solutions. It has been well recognized for providing a varied portfolio of prosthetic feet, with the Truestep and Odyssey lines becoming frequent solutions clinicians reach out for. With its 2015 acquisition of Liberating Technologies, College Park ventured into the upper limb arena with its first bionic product – the Espire Elbow launched in April 2019. College Park is the 2018 recipient of the Hanger Service Excellence Award, a demonstration of its continued commitment to deliver unsurpassed customer service alongside competitive products. To learn more, visit www.collegeparkindustries.com