Ball: Ossur

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?ssur hf.

Type

Public (OMX:OSSR)

Founded

1971

Headquarters

Reykjav韐, Iceland

Area served

Global

Key people

Jon Sigurdsson (President and CEO), Niels Jacobsen (Chairman of the board), Hjorleifur Palsson (CFO)

Industry

Health care

Products

Non-invasive orthopaedic bracing and support, compression therapy, prosthetics

Revenue

US $335.6 million (2007)[1]

Operating income

? US $39.7 million (2007)[1]

Profit

? US $7.58 million (2007)[1]

Employees

1,600 (2007)[1]

Website

www.ossur.com

Ossur (Icelandic: ?ssur, OMX:OSSR) is a company making non-invasive orthopaedics. It is a global leader[citation needed] in the development, manufacturing, distribution, sales, and marketing of bracing and support products, compression therapy, and prosthetics. The company抯 headquarters are in Reykjav韐, Iceland. The company also has extensive operations in the Americas, Europe, and Asia, with numerous distributors in other markets. In 2006, Ossur Asia opened its latest outpost in Shanghai, China.

Contents

1 History

1.1 Acquisitions

2 Operations

2.1 Research and development

2.2 Products

2.2.1 Bracing and support

2.2.2 Compression therapy

2.2.3 Prosthetics

2.2.3.1 Bionic Technology Platform

3 Sponsorship

4 Notes

5 External links

//

History

Ossur was founded in Iceland in 1971 by ?ssur Kristinsson, a prosthetist. The Kristinsson family owned the company until 1999, when it went public and was listed on the Iceland Stock Exchange. Initially, the company served only the domestic Icelandic market, and then began to export in 1986. There was rapid expansion in the 1990s and an assertive acquisition strategy[clarification needed] in the 2000s. Ossur has now grown from being a prosthetics workshop with a few employees to a progressive high-tech company that employs a staff of around 1,600 in 14 locations around the world.

Acquisitions

Since 2000, Ossur has acquired 13 companies. All except for the Gibaud Group are fully integrated.

2000 Flex-Foot, Inc.

2000 PI Medical AB.

2000 Karlsson & Bergstrom AB.

2000 Century XXII Innovations, Inc

2003 Linea Orthopedics AB.

2003 Generation II Group, Inc.

2005 Advanced Prosthetic Components

2005 Royce Medical, Inc.

2005 Innovative Medical Products, Ltd.

2005 GBM Medical AB.

2006 Innovation Sports, Inc.

2006 Gibaud Group

2007 SOMAS

Operations

Research and development

Ossur operates five research and development (R&D) departments, which are located in four countries and employ a total of 76 people. In-house R&D also partners with third parties, including universities and research companies. Ossur invests significantly in research and product development. In 2007, that investment amounted to 6 percent of the company抯 total sales. The same year, 22 US patents were granted to Ossur and 37 new applications filed. At the end of the year, Ossur had 218 US, 26 European, and 103 granted international patents in its portfolio, together with 119 US and 239 pending applications world.[citation needed]

Ossur is recognized by the World Economic Forum as a "Technology Pioneer"[citation needed], which means it has been identified as a company that is developing and applying the most innovative and transformational technologies.

Products

Ossur operates in three markets: bracing & support, compression therapy, and prosthetics. Ossur抯 Bionic Technology Platform is a part of the prosthetics market.

Bracing and support

Ossur manufactures a range of braces and support products for arms, legs, and torso. Products include Unloader One, a brace that provides a mechanical solution to knee pain caused by osteoarthritis. It separates bones when ligaments and cartilage are damaged and also prevents further damage to the joint. The firm also makes CTi, a ligament brace for knees used for both rehabilitation and for injury prevention, as well as cervical collars.

Compression therapy

Ossur entered the compression therapy segment with the acquisition of the French company Gibaud. Products include bandages, tights, stockings, knee highs and stump socks.

Prosthetics

Ossur manufactures prosthetic limbs and joints, liners, sockets, locks and sleeves. Its products include Flex-Foot, a high performance foot made from 100% carbon fiber, a material used extensively in the aerospace industry for its strength and flexibility. The Flex-Foot Cheetah worn by Oscar Pistorius and other amputee athletes is a derivative of this product line. Ossur also produces the Total Knee prosthetic, which possesses a "locking moment" which keeps the knee from collapsing when it...(and so on)