08.14.19
AT A GLANCE
Rank: #9 (Last year: #10)
$613 Million
Prior Fiscal: $569 Million
Percentage Change: +7.7%
No. of Employees: 3,000
Global Headquarters: Reykjavik, Iceland
KEY EXECUTIVES:
Niels Jacobsen, Board Chairman
Jon Sigurdsson, President and CEO
Egill Jonsson, Exec. VP of Manufacturing and Operations
Gudjon G. Karason, Exec. VP of Clinics
Margaret Lara Fridriksdottir, Exec. VP of Human Resources and Corporate Strategy
Kim de Roy, Exec. VP of Research and Development
Sveinn Sölvason, CFO
Sarah Reinertsen’s wish has finally come true.
It took a while—43 years to be exact (give or take a few turns of the calendar)—but the paratriathlete’s long-evasive aspiration has at last materialized.
Reinertsen has only ever wished for equality—not just for herself but for all disabled folk. She’s endured injustices for most of her life, having been exposed to the dark side of human nature at a very early age.
Reinertsen was born with proximal femoral focal deficiency (PFFD), an uncommon yet complex birth defect in which the upper femur is either malformed or missing, causing one leg to be shorter than the other. The condition affects roughly one in every 200,000 children. PFFD treatments vary depending on the patient; in Reinertsen’s case, the remedy was an above-the-knee leg amputation at age 7. Doctors told Reinertsen she would walk (with a prosthesis, of course), but never again run.
The biases began soon after the surgery, manifesting themselves most blatantly in sports. Reinertsen still remembers the shunning she endured on the soccer field—rather than being permitted to join other children in practice drills, the coaches assigned Reinertsen the monotonous task of kicking a ball against a wall. Alone.
The inequities only grew worse with the onset of puberty. “I often got made fun of,” Reinertsen recounted to USA Today last fall. “Kids would say mean things to me and pick on me, sometimes my leg would squeak or make noise and they would make fun of that.”
Reinertsen, ironically, found refuge from the verbal assaults in the same arena that was most exclusive. “Being the only kid in my school that wore a prosthetic leg made my teenage years very hard in trying to find a way to feel good in my body,” the motivational speaker and author told refinery29.com in a Q&A post last summer. “Sports has been the vehicle that has allowed me to embrace my body, flaws and all. I used to sort of resent my prosthetic leg and having a stump but now I’m proud of that. I realized if I hadn’t lost my leg, I wouldn’t have found this other half of myself.”
In celebrating her physical flaws, Reinertsen found the courage and determination to seek the equality that constantly eluded her. She chose to pursue that parity through running.
Inspired by Jim MacLaren—once the world’s fastest amputee triathlete—Reinertsen began competing in, and winning, marathons. At age 13, she broke the 100-meter world track record for female amputees. At 23, Reinertsen was the first above-the-knee amputee to ever finish the Seven Sisters 12-Mile Trail Run, considered the most challenging race in the Northeast. Then in 1999, she was the gold medalist in the ISOD (International Sports Organisation for Disabled) 100-meter, 200-meter, and 400-meter contests.
Reinertsen made history in the mid-2000s when she entered and completed (respectively, in consecutive years) the Ironman World Championship in Kona, Hawaii. No female leg amputee had ever before participated in the 140-mile race.
Reinertsen secured another date with history last winter upon completing the 777 World Marathon Challenge, a grueling contest that requires participants to run seven marathons on seven continents within seven days. She was the first amputee to ever enter and complete the event.
Eight months after running around the world (literally), Reinertsen returned to the Pineapple State to participate in her third Ironman World Championship (2018). She completed it 24 minutes faster than her 2005 finish, despite the various disadvantages she faced as an amputee (no kicking power for swimming, no extra force generation for biking, more overall energy required). Reinertsen, however, was more than willing to endure those challenges for the opportunity to fulfill her lifelong dream: be treated like everyone else.
“Most golfers don’t get to play with Tiger Woods,” Reinertsen said of the iconic triathlon event on Hawaii’s Big Island. “In Ironman, whether you are a professional, or an age grouper, or whoever, you are all in the same world championship. The caveat is that the rules don’t get changed, whoever you are.”
Translation: Everyone is treated as equals.
To qualify for that equal treatment, Reinertsen employed the latest technology from Össur, an Icelandic developer and manufacturer of non-invasive orthopedic equipment (bracing/support products, compression therapy, and prosthetics). For running, Reinertsen uses the Össur Flex-Run with Nike Sole and the Össur Total Knee 2100; the former product evolved from a collaboration between the two companies and features a longer toe lever for better energy return, while the latter innovation has a three-phase hydraulic swing control, a geometric locking system, adjustable stance flexion, and a 30-mm (13/16-inch) pylon adaptability.
For cycling, Reinertsen uses a prosthetic leg with a built-in biking cleat, and her everyday setup of choice is the Össur Total Knee 2100 combined with the Össur Vari-Flex XC foot and Össur Iceross 3 mm and 6 mm liners.
Reinertsen credits Össur’s prosthetics with helping improve her overall performance at last year’s Ironman World Championship, though she insists her physical prowess is mostly responsible for the feat.
“Having a coach to encourage me and create my plan with intention and with my goals in mind—I needed that more than anything,” Reinertsen said in response to an Equinox Furthermore Magazine question about besting her 2005 Ironman finish time. “...another thing was investing in equipment. I made a lot of changes with my gear, like adding electronic shifters to my bike and using Össur cycling and running legs with updated designs for racing and speed. The prosthetic tech definitely helps, but I don’t want to give it too much credit. I’m still the engine. I power the hinge through every revolution on the bike and every stride on the run.”
Maybe so, but Össur must be doing something right: The company has grown 20 percent annually since its 1999 stock exchange listing, and sales have surged 27 percent since 2015. In each of its last three fiscal years, Össur’s revenue jumped an average 8.27 percent, and its gross profit margin has hovered around 63 percent.
“We at Össur are dedicated to improving people’s mobility and witnessing the users of our products push their boundaries to reach new heights,” president and CEO Jon Sigurdsson told shareholders in the company’s 2018 annual report. “This fuels our passion and commitment to the orthopedic industry. People living with limb loss are gracing the covers of magazines, featured in global brand campaigns, and eliminating the stigma often associated with limb difference. We could not be prouder to be a part of this movement.”
Indeed, that pride has helped fuel the company’s ingenuity throughout its 48-year history, producing such innovations as bionic limbs, carbon fiber composites, and custom prosthetics.
Össur’s inventive streak continued last year with the release of 25 new products, including the Pro-Flex LP Align, the Rebound Post-Op Knee, the bionic PROPRIO FOOT, and the Formfit Pro Knee OA.
The Össur Pro-Flex LP Align prosthetic foot features heel height adjustability, enabling users to change from sneakers to heels as desired throughout the day. The product, according to the company, is the first prosthetic of its kind, as lower limb amputees have historically had to sacrifice the functionality of their prosthesis for heel height.
Össur’s Rebound Post-Op Knee brace is made for patients requiring controlled range of motion for various knee-related issues such as ligament or meniscal repairs, tibial plateau fractures, patellar tendon or osteochondral repairs, condylar fractures, knee sprains/strains, and high tibial osteotomy. Thirty percent lighter than other commercially available braces, the Rebound Post-Op Knee features ergonomic paddles and contouring struts that hug the patient’s anatomy and promote comfort. It also capitalizes on innovations incorporated in other Össur products, including an Anti-Migration System wrap and quick-fit buckle system to ensure secure suspension.
The Rebound brace aims to provide controlled knee range-of-motion (10-120 degrees), provides additional support via a secure drop-lock feature, and offers optional lockout clips to limit patient self-adjustments. The product’s design entails Smart-Fit packaging and a numbered frame with quick-fit gripping buckles for easy fitting. The brace is available in universal adult and pediatric models as well as specific left- and right-contoured configurations when a more anatomical fit is required. A button enables the telescoping frame to be sized from 18.5 inches to 27 inches in the adult models, and 15 inches to 21 inches in the pediatric version.
The PROPRIO FOOT makes use of a motor-powered microprocessor-controlled ankle to adjust the user’s foot position, thereby enabling the product to address variations in terrain better than other prosthetic feet, according to Össur. The PROPRIO FOOT provides a stable foot placement on stairs and inclined surfaces while reducing the risk of trips and falls by lifting the toe in every step.
Össur launched its Formfit Pro Knee OA in May 2018 in partnership with Iceland’s national soccer team. The first product to be introduced in the Össur Formfit Pro range, the Pro Knee is designed to unload the knee compartment and enhance proprioception for early or mild osteoarthritis as well as other knee conditions.
Patients, however, were not the sole beneficiaries of Össur’s new product introductions last year. The neophytes also benefitted the company’s bottom line, boosting 2018 sales 7.7 percent to $612.8 million and expanding gross profit 9 percent to $386.8 million, the annual report states. Net profit mushroomed 38.4 percent to $79.8 million, and earnings per share swelled 40 percent to 18.8 cents.
Growth was equally as robust in Össur’s Prosthetics segment, which accounts for 52 percent of the company’s total revenue. Fiscal 2018 proceeds rose 7 percent to $316 million due largely to strong sales gains in the Pro-Flex LP Align, bionic PROPRIO FOOT, bionic RHEO KNEE, and Touch Bionic upper limb solutions portfolios.
Bracing and supports, which accounts for 48 percent of Össur’s annual sales, increased revenue 2 percent last year to $296 million. Unloader One solutions and the Rebound Post-Op Knee mainly drove sales, though growth was somewhat curbed by a competitive EMEA market for compression therapy products. Asia-Pacific sales were particularly strong in Australia, China, and Japan.
Rank: #9 (Last year: #10)
$613 Million
Prior Fiscal: $569 Million
Percentage Change: +7.7%
No. of Employees: 3,000
Global Headquarters: Reykjavik, Iceland
KEY EXECUTIVES:
Niels Jacobsen, Board Chairman
Jon Sigurdsson, President and CEO
Egill Jonsson, Exec. VP of Manufacturing and Operations
Gudjon G. Karason, Exec. VP of Clinics
Margaret Lara Fridriksdottir, Exec. VP of Human Resources and Corporate Strategy
Kim de Roy, Exec. VP of Research and Development
Sveinn Sölvason, CFO
Sarah Reinertsen’s wish has finally come true.
It took a while—43 years to be exact (give or take a few turns of the calendar)—but the paratriathlete’s long-evasive aspiration has at last materialized.
Reinertsen has only ever wished for equality—not just for herself but for all disabled folk. She’s endured injustices for most of her life, having been exposed to the dark side of human nature at a very early age.
Reinertsen was born with proximal femoral focal deficiency (PFFD), an uncommon yet complex birth defect in which the upper femur is either malformed or missing, causing one leg to be shorter than the other. The condition affects roughly one in every 200,000 children. PFFD treatments vary depending on the patient; in Reinertsen’s case, the remedy was an above-the-knee leg amputation at age 7. Doctors told Reinertsen she would walk (with a prosthesis, of course), but never again run.
The biases began soon after the surgery, manifesting themselves most blatantly in sports. Reinertsen still remembers the shunning she endured on the soccer field—rather than being permitted to join other children in practice drills, the coaches assigned Reinertsen the monotonous task of kicking a ball against a wall. Alone.
The inequities only grew worse with the onset of puberty. “I often got made fun of,” Reinertsen recounted to USA Today last fall. “Kids would say mean things to me and pick on me, sometimes my leg would squeak or make noise and they would make fun of that.”
Reinertsen, ironically, found refuge from the verbal assaults in the same arena that was most exclusive. “Being the only kid in my school that wore a prosthetic leg made my teenage years very hard in trying to find a way to feel good in my body,” the motivational speaker and author told refinery29.com in a Q&A post last summer. “Sports has been the vehicle that has allowed me to embrace my body, flaws and all. I used to sort of resent my prosthetic leg and having a stump but now I’m proud of that. I realized if I hadn’t lost my leg, I wouldn’t have found this other half of myself.”
In celebrating her physical flaws, Reinertsen found the courage and determination to seek the equality that constantly eluded her. She chose to pursue that parity through running.
Inspired by Jim MacLaren—once the world’s fastest amputee triathlete—Reinertsen began competing in, and winning, marathons. At age 13, she broke the 100-meter world track record for female amputees. At 23, Reinertsen was the first above-the-knee amputee to ever finish the Seven Sisters 12-Mile Trail Run, considered the most challenging race in the Northeast. Then in 1999, she was the gold medalist in the ISOD (International Sports Organisation for Disabled) 100-meter, 200-meter, and 400-meter contests.
Reinertsen made history in the mid-2000s when she entered and completed (respectively, in consecutive years) the Ironman World Championship in Kona, Hawaii. No female leg amputee had ever before participated in the 140-mile race.
Reinertsen secured another date with history last winter upon completing the 777 World Marathon Challenge, a grueling contest that requires participants to run seven marathons on seven continents within seven days. She was the first amputee to ever enter and complete the event.
Eight months after running around the world (literally), Reinertsen returned to the Pineapple State to participate in her third Ironman World Championship (2018). She completed it 24 minutes faster than her 2005 finish, despite the various disadvantages she faced as an amputee (no kicking power for swimming, no extra force generation for biking, more overall energy required). Reinertsen, however, was more than willing to endure those challenges for the opportunity to fulfill her lifelong dream: be treated like everyone else.
“Most golfers don’t get to play with Tiger Woods,” Reinertsen said of the iconic triathlon event on Hawaii’s Big Island. “In Ironman, whether you are a professional, or an age grouper, or whoever, you are all in the same world championship. The caveat is that the rules don’t get changed, whoever you are.”
Translation: Everyone is treated as equals.
To qualify for that equal treatment, Reinertsen employed the latest technology from Össur, an Icelandic developer and manufacturer of non-invasive orthopedic equipment (bracing/support products, compression therapy, and prosthetics). For running, Reinertsen uses the Össur Flex-Run with Nike Sole and the Össur Total Knee 2100; the former product evolved from a collaboration between the two companies and features a longer toe lever for better energy return, while the latter innovation has a three-phase hydraulic swing control, a geometric locking system, adjustable stance flexion, and a 30-mm (13/16-inch) pylon adaptability.
For cycling, Reinertsen uses a prosthetic leg with a built-in biking cleat, and her everyday setup of choice is the Össur Total Knee 2100 combined with the Össur Vari-Flex XC foot and Össur Iceross 3 mm and 6 mm liners.
Reinertsen credits Össur’s prosthetics with helping improve her overall performance at last year’s Ironman World Championship, though she insists her physical prowess is mostly responsible for the feat.
“Having a coach to encourage me and create my plan with intention and with my goals in mind—I needed that more than anything,” Reinertsen said in response to an Equinox Furthermore Magazine question about besting her 2005 Ironman finish time. “...another thing was investing in equipment. I made a lot of changes with my gear, like adding electronic shifters to my bike and using Össur cycling and running legs with updated designs for racing and speed. The prosthetic tech definitely helps, but I don’t want to give it too much credit. I’m still the engine. I power the hinge through every revolution on the bike and every stride on the run.”
Maybe so, but Össur must be doing something right: The company has grown 20 percent annually since its 1999 stock exchange listing, and sales have surged 27 percent since 2015. In each of its last three fiscal years, Össur’s revenue jumped an average 8.27 percent, and its gross profit margin has hovered around 63 percent.
“We at Össur are dedicated to improving people’s mobility and witnessing the users of our products push their boundaries to reach new heights,” president and CEO Jon Sigurdsson told shareholders in the company’s 2018 annual report. “This fuels our passion and commitment to the orthopedic industry. People living with limb loss are gracing the covers of magazines, featured in global brand campaigns, and eliminating the stigma often associated with limb difference. We could not be prouder to be a part of this movement.”
Indeed, that pride has helped fuel the company’s ingenuity throughout its 48-year history, producing such innovations as bionic limbs, carbon fiber composites, and custom prosthetics.
Össur’s inventive streak continued last year with the release of 25 new products, including the Pro-Flex LP Align, the Rebound Post-Op Knee, the bionic PROPRIO FOOT, and the Formfit Pro Knee OA.
The Össur Pro-Flex LP Align prosthetic foot features heel height adjustability, enabling users to change from sneakers to heels as desired throughout the day. The product, according to the company, is the first prosthetic of its kind, as lower limb amputees have historically had to sacrifice the functionality of their prosthesis for heel height.
Össur’s Rebound Post-Op Knee brace is made for patients requiring controlled range of motion for various knee-related issues such as ligament or meniscal repairs, tibial plateau fractures, patellar tendon or osteochondral repairs, condylar fractures, knee sprains/strains, and high tibial osteotomy. Thirty percent lighter than other commercially available braces, the Rebound Post-Op Knee features ergonomic paddles and contouring struts that hug the patient’s anatomy and promote comfort. It also capitalizes on innovations incorporated in other Össur products, including an Anti-Migration System wrap and quick-fit buckle system to ensure secure suspension.
The Rebound brace aims to provide controlled knee range-of-motion (10-120 degrees), provides additional support via a secure drop-lock feature, and offers optional lockout clips to limit patient self-adjustments. The product’s design entails Smart-Fit packaging and a numbered frame with quick-fit gripping buckles for easy fitting. The brace is available in universal adult and pediatric models as well as specific left- and right-contoured configurations when a more anatomical fit is required. A button enables the telescoping frame to be sized from 18.5 inches to 27 inches in the adult models, and 15 inches to 21 inches in the pediatric version.
The PROPRIO FOOT makes use of a motor-powered microprocessor-controlled ankle to adjust the user’s foot position, thereby enabling the product to address variations in terrain better than other prosthetic feet, according to Össur. The PROPRIO FOOT provides a stable foot placement on stairs and inclined surfaces while reducing the risk of trips and falls by lifting the toe in every step.
Össur launched its Formfit Pro Knee OA in May 2018 in partnership with Iceland’s national soccer team. The first product to be introduced in the Össur Formfit Pro range, the Pro Knee is designed to unload the knee compartment and enhance proprioception for early or mild osteoarthritis as well as other knee conditions.
Patients, however, were not the sole beneficiaries of Össur’s new product introductions last year. The neophytes also benefitted the company’s bottom line, boosting 2018 sales 7.7 percent to $612.8 million and expanding gross profit 9 percent to $386.8 million, the annual report states. Net profit mushroomed 38.4 percent to $79.8 million, and earnings per share swelled 40 percent to 18.8 cents.
Growth was equally as robust in Össur’s Prosthetics segment, which accounts for 52 percent of the company’s total revenue. Fiscal 2018 proceeds rose 7 percent to $316 million due largely to strong sales gains in the Pro-Flex LP Align, bionic PROPRIO FOOT, bionic RHEO KNEE, and Touch Bionic upper limb solutions portfolios.
Bracing and supports, which accounts for 48 percent of Össur’s annual sales, increased revenue 2 percent last year to $296 million. Unloader One solutions and the Rebound Post-Op Knee mainly drove sales, though growth was somewhat curbed by a competitive EMEA market for compression therapy products. Asia-Pacific sales were particularly strong in Australia, China, and Japan.