08.12.22
Rank: #9 (Last year: #9)
$719 Million
Prior Fiscal: $630 Million
Percentage Change: +14.1%
R&D Expenditure: $32M
Best FY21 Quarter: Q2 $190M
Latest Quarter: Q2 $181M
No. of Employees: 3,761
Global Headquarters: Reykjavik, Iceland
KEY EXECUTIVES:
Sveinn Sölvason, President and CEO
Egill Jónsson, EVP of Manufacturing and Operations
Ólafur Gylfason, EVP of Prosthetics and Europe/Emerging Markets
Christian Robinson, EVP of Bracing & Supports and Americas
Guðjón G. Kárason, EVP of Clinics
Hildur Einarsdóttir, EVP of Research and Development
A happy golden anniversary to Össur! 2021 marked the 50th year since its founding in February 1971.
The prosthetics and orthotics company celebrated five decades in business with an announcement last February that the company would be carbon neutral for energy and fuel consumption, waste generation, business travel, transportation of goods, and electricity consumption of finished goods suppliers last year.
“We care about the environment and take our responsibility seriously. We have been actively working on establishing a good overview of the company’s carbon footprint and are proud to commemorate the company’s 50th anniversary by becoming carbon neutral,” said then-president and CEO Jon Sigurdsson. “As part of our larger commitment to sustainability, we are contributing to the UN Sustainable Development Goals and Climate Action is one of four UN Sustainable Development Goals we have chosen to focus on. The others are Good Health & Well-being, Gender Equality, and Responsible Consumption and Production.”
The company pledged commitment to their sustainability vision and continuing to actively reduce its carbon footprint, remaining carbon neutral beyond 2021.
Össur pocketed $719 million of revenue last year, rising 14.1% over the previous year. Currency movements positively affected sales growth by $20 million (about 3%), according to the company’s annual report. The company also completed several acquisitions of entities with full-year sales of about $26 million. However, supply chain cost increases stifled cost of goods sold negatively by $10 million for the year.
Prosthetics sales accounted for about two-thirds (67%) of Össur’s revenue, generating $453 million last year and leaping 11% over the prior year’s tally. Bionic products captured 21% of the franchise’s sales last fiscal. Prosthetics sales stayed resilient throughout the pandemic, driven by the existing amputee population with maintenance, renewals, and upgrades of prosthetics.
Last May, the company launched three new models of the Cheetah sports prosthesis. Cheetah is engineered for athletes participating in athletics that involve sprinting, distance running, and long jumping.
Cheetah Xcel was designed for explosive, short-distance (100-200m) sprints with features that reduce running effort and facilitate increased speed. The carbon fiber blade has a more extreme curve and dynamic shape that allows the foot to flex for a powerful energy kick, and a long toe boosts push-off while a plantar-fixed pylon supports forward movement.
Cheetah Xceed was designed for athletes with single or double amputation who participate in long-distance running. A larger carbon blade enhances shock absorption and reduces running effort.
Cheetah Xpanse was engineered for long-jumping with input from elite athletes to have faster pace for the run-up and improved push-off. A dynamic shape helps the foot flex aggressively for powerful energy return and plantar-flexed pylon for forward progression. The large carbon fiber blade helps withstand a heavier load, like when the athlete lands or participates in other high-endurance sports.
The Xceed and Xcel models have the option to place the co-developed Nike SoleX interchangeable sole system atop the running blades. The Xpanse model features a next-gen Nike Spike Pad 2.0 for specialized traction.
Bracing & supports sales jumped 8% to $266 million last year. It lacked the strength of the prosthetics franchise because this business is driven by injuries, surgeries, and osteoarthritis (OA) prevalence—measures to control COVID’s spread impacted amateur sports and activity levels that resulted in fewer injuries. Elective surgery disruption also impacted the segment’s sales volume, and physicians’ limited access to patient slowed OA bracing sales as well.
Last April saw release of the Rebound post-op elbow brace, designed to optimize clinicians’ fitting experience. Össur claims it’s the lightest weight brace on the market. It provides both elbow immobilization and range-of-motion restriction, and a drop-lock hinge have range-of-motion stops that automatically lock-out. Four telescoping ergonomic paddles with contoured hinge struts help make the brace more comfortable.
The Rebound DUAL Recover brace stepped in a month later. The orthosis has a combined purpose of rehabilitation up to full regeneration and user-friendly, patient-oriented functions. Its intuitive handling and tool-free adjustable joints are included in a lightweight design as well.
The Rebound ACL brace hit the market in September. It dynamically reduces strain on the ACL when recovering from injury and provides comfortable load on the posterior thigh and anterior tibia. A dynamic tension system allows individual, adjustable settings based on anatomy and rehabilitation requirements. It features extension range-of-motion lockouts, posterior frame design, and open anterior. It also has the company’s “Blue is You” system of patient touch points and ActiveGrip liners with anti-migration strapping.
The week before Christmas, CEO Jon Sigurdsson proclaimed his retirement after a whopping 26 years leading Össur. CFO Sveinn Sölvason was appointed president and CEO of the company on April 1 of this year. Sölvason had been with the company since 2009 and CFO since 2013.
“I congratulate Sveinn on his appointment and look forward to working with him on the transition,” Sigurdsson expressed. “It has been an honor to lead Össur for the past 26 years. I have had the pleasure of working with a dedicated team of employees, customers and end-users alike, all of whom have made Össur the successful business it is today. I look forward to watching Össur continue to flourish in the years to come.”
$719 Million
Prior Fiscal: $630 Million
Percentage Change: +14.1%
R&D Expenditure: $32M
Best FY21 Quarter: Q2 $190M
Latest Quarter: Q2 $181M
No. of Employees: 3,761
Global Headquarters: Reykjavik, Iceland
KEY EXECUTIVES:
Sveinn Sölvason, President and CEO
Egill Jónsson, EVP of Manufacturing and Operations
Ólafur Gylfason, EVP of Prosthetics and Europe/Emerging Markets
Christian Robinson, EVP of Bracing & Supports and Americas
Guðjón G. Kárason, EVP of Clinics
Hildur Einarsdóttir, EVP of Research and Development
A happy golden anniversary to Össur! 2021 marked the 50th year since its founding in February 1971.
The prosthetics and orthotics company celebrated five decades in business with an announcement last February that the company would be carbon neutral for energy and fuel consumption, waste generation, business travel, transportation of goods, and electricity consumption of finished goods suppliers last year.
“We care about the environment and take our responsibility seriously. We have been actively working on establishing a good overview of the company’s carbon footprint and are proud to commemorate the company’s 50th anniversary by becoming carbon neutral,” said then-president and CEO Jon Sigurdsson. “As part of our larger commitment to sustainability, we are contributing to the UN Sustainable Development Goals and Climate Action is one of four UN Sustainable Development Goals we have chosen to focus on. The others are Good Health & Well-being, Gender Equality, and Responsible Consumption and Production.”
The company pledged commitment to their sustainability vision and continuing to actively reduce its carbon footprint, remaining carbon neutral beyond 2021.
Össur pocketed $719 million of revenue last year, rising 14.1% over the previous year. Currency movements positively affected sales growth by $20 million (about 3%), according to the company’s annual report. The company also completed several acquisitions of entities with full-year sales of about $26 million. However, supply chain cost increases stifled cost of goods sold negatively by $10 million for the year.
Prosthetics sales accounted for about two-thirds (67%) of Össur’s revenue, generating $453 million last year and leaping 11% over the prior year’s tally. Bionic products captured 21% of the franchise’s sales last fiscal. Prosthetics sales stayed resilient throughout the pandemic, driven by the existing amputee population with maintenance, renewals, and upgrades of prosthetics.
Last May, the company launched three new models of the Cheetah sports prosthesis. Cheetah is engineered for athletes participating in athletics that involve sprinting, distance running, and long jumping.
Cheetah Xcel was designed for explosive, short-distance (100-200m) sprints with features that reduce running effort and facilitate increased speed. The carbon fiber blade has a more extreme curve and dynamic shape that allows the foot to flex for a powerful energy kick, and a long toe boosts push-off while a plantar-fixed pylon supports forward movement.
Cheetah Xceed was designed for athletes with single or double amputation who participate in long-distance running. A larger carbon blade enhances shock absorption and reduces running effort.
Cheetah Xpanse was engineered for long-jumping with input from elite athletes to have faster pace for the run-up and improved push-off. A dynamic shape helps the foot flex aggressively for powerful energy return and plantar-flexed pylon for forward progression. The large carbon fiber blade helps withstand a heavier load, like when the athlete lands or participates in other high-endurance sports.
The Xceed and Xcel models have the option to place the co-developed Nike SoleX interchangeable sole system atop the running blades. The Xpanse model features a next-gen Nike Spike Pad 2.0 for specialized traction.
Bracing & supports sales jumped 8% to $266 million last year. It lacked the strength of the prosthetics franchise because this business is driven by injuries, surgeries, and osteoarthritis (OA) prevalence—measures to control COVID’s spread impacted amateur sports and activity levels that resulted in fewer injuries. Elective surgery disruption also impacted the segment’s sales volume, and physicians’ limited access to patient slowed OA bracing sales as well.
Last April saw release of the Rebound post-op elbow brace, designed to optimize clinicians’ fitting experience. Össur claims it’s the lightest weight brace on the market. It provides both elbow immobilization and range-of-motion restriction, and a drop-lock hinge have range-of-motion stops that automatically lock-out. Four telescoping ergonomic paddles with contoured hinge struts help make the brace more comfortable.
The Rebound DUAL Recover brace stepped in a month later. The orthosis has a combined purpose of rehabilitation up to full regeneration and user-friendly, patient-oriented functions. Its intuitive handling and tool-free adjustable joints are included in a lightweight design as well.
The Rebound ACL brace hit the market in September. It dynamically reduces strain on the ACL when recovering from injury and provides comfortable load on the posterior thigh and anterior tibia. A dynamic tension system allows individual, adjustable settings based on anatomy and rehabilitation requirements. It features extension range-of-motion lockouts, posterior frame design, and open anterior. It also has the company’s “Blue is You” system of patient touch points and ActiveGrip liners with anti-migration strapping.
The week before Christmas, CEO Jon Sigurdsson proclaimed his retirement after a whopping 26 years leading Össur. CFO Sveinn Sölvason was appointed president and CEO of the company on April 1 of this year. Sölvason had been with the company since 2009 and CFO since 2013.
“I congratulate Sveinn on his appointment and look forward to working with him on the transition,” Sigurdsson expressed. “It has been an honor to lead Össur for the past 26 years. I have had the pleasure of working with a dedicated team of employees, customers and end-users alike, all of whom have made Össur the successful business it is today. I look forward to watching Össur continue to flourish in the years to come.”