Össur acquires Touch Bionics

Össur Hf has acquired Touch Bionics Limited, a global provider of upper limb prostheses and supporting services, for 27.5 million British pounds ($39 million). Touch Bionics has more than 120 employees with operations in Scotland, Germany, and the United States.

The gives Össur access to the upper limb prosthetic market, enabling the company to offer a complete bionic product portfolio to customers in the prosthetic industry. Together, both companies are well-positioned to further strengthen their global market position in both lower and upper limb prosthetics.

“Touch Bionics has developed cutting edge upper limb technology and created a strong brand presence over recent years. This acquisition is an important milestone for Össur as it marks our entry into the upper limb prosthetic market. Össur and Touch Bionics are committed to pushing the boundaries of bionic technology to enable amputees to live a life without limitations,” said Jon Sigurdsson, president and CEO of Össur. 

Synergies between the operations of Össur and Touch Bionics are expected to be achieved over the next two to three years, ultimately increasing the EBITDA margin of Touch Bionics to a similar level as Össur. The acquisition is not expected to impact Össur’s full-year financial guidance.

“There are exciting times ahead and we look forward to being a part of the Össur organization. Össur has a strong presence in the market and is known for being a technology leader in prosthetics,” added Ian Stevens, CEO of Toch Bionics. “Touch Bionics and Össur share the same vision of helping amputees live a life without limitations with the best innovation and technology available.”

in January, Touch Bionics reported a sharp rise in sales, following a strong performance in European markets. Revenue climbed by 11 percent last year to 15 million (British) pounds ($21 million), and adjusted EBITDA totaled 900,000 pounds ($1.3 million).

Touch Bionics was the first company to be spun out of the NHS in Scotland when it was founded in 2003. Its bionic hands and arms have now been fitted to thousands of people. Last year, the company launched the i-limb quantum, an upper limb prosthesis that can change grips with a simple gesture.

Össur is an Icelandic company that develops, manufactures and sells non-invasive orthopedic equipment, including bracing and support products, compression therapy, and prosthetics. The company operates facilities in the Americas, Europe and Asia.