Ossur Hf : Össur acquires TeamOlmed in Sweden

Announcement from Össur hf. No:15/2013
Reykjavik, 21 May 2013
Össur acquires TeamOlmed in Sweden

Össur  has today signed an agreement to acquire 100% of the shares of TeamOlmed,
a  leading Swedish orthotic  and prosthetic (O&P)  provider, for SEK 310 million
(USD  47 million). Additional payments  of up to  SEK 50 million (USD 7 million)
depend  on TeamOlmed meeting certain revenue  and profitability targets in 2013
and 2014.

Össur  has  a  long  standing  business  relationship  with  TeamOlmed. With the
acquisition,  Össur gains a  significant share of  the Swedish O&P market. Össur
and TeamOlmed together will be a strong partner for county councils, prescribers
and patients offering innovative, cost effective and clinically proven solutions
in Sweden.

TeamOlmed  was created in 2011 through the  merger of Olmed Ortopediska (founded
in 1984) and Team Ortopedteknik (founded in 1994). TeamOlmed is Sweden's largest
provider  of O&P solutions to patients with impaired mobility. The vast majority
of  sales are through contracts with county  councils in Sweden. The company has
over  300 employees in patient care centers in Stockholm, Jönköping, Uppsala and
several  other locations around  Sweden. Total revenues  in 2012 amounted to SEK
348 million  (USD 52 million) with an adjusted  EBITDA of SEK 43 million (USD 6
million),  which is expected to be the full year impact to Össur financials once
fully  consolidated. Total assets of TeamOlmed  amounted to SEK 419 million (USD
63 million) at end of year 2012.

The  purchase  price  is  paid  in  full  in  cash and financed through existing
financing  facilities.  The  acquisition  is  subject to approval from Stockholm
County Council and is expected to close in Q3 2013.

Jon Sigurðsson, President & CEO:
"We  are  excited  to  partner  with  TeamOlmed  and  its employees. TeamOlmed's
expertise   and   commitment   in  providing  excellent  patient  care  is  very
complimentary  to Össur. This  acquisition is an  important milestone for Össur,
strengthening our position in an increasingly consolidated Swedish market."

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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.
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.