08.17.21
Rank: #9 (Last year: #9)
$630 Million
Prior Fiscal: $686 Million
Percentage Change: -8.2%
No. of Employees: 4,000
Global Headquarters: Reykjavik, Iceland
KEY EXECUTIVES:
Jon Sigurdsson, President and CEO
Sveinn Sölvason, CFO
Margrét Lára Friðriksdóttir, EVP of HR and Corporate Strategy
Egill Jónsson, EVP of Manufacturing and Operations
Gudjon G. Karason, EVP of Clinics
Kristleifur Kristjánsson, EVP of Research and Development
Ólafur Gylfason, EVP Prosthetics SBU and Europe/Emerging
Christian Robinson, EVP of Bracing and Supports and Americas
Through a 20-year partnership, the Challenged Athletes Foundation (CAF) and Össur gave the gift of mobility to thousands of amputees. In October, five new high-profile celebrities and professional athletes received the firm’s running prosthetics.
Surprise moments included MLB’s Eric Byrnes and Kevin Millar, NFL’s Luke Kuechly, Professional Supercross Riders, and fitness supermodel-amputee Paola Antonini.
“For athletes with limb loss, participation in sports is not always possible due to the high cost of adaptive sports equipment not covered by medical insurance,” Travis Ricks, programs director for CAF and ambassador for Össur, said in an interview with KUSI News. “Our long-standing partnership between CAF and Össur has allowed individuals to regain their independence using running prosthetics, connecting with the community and getting instructional support for running and mobility.”
The $630 million Össur generated last year was an 8.2 percent revenue loss over the year prior. Prosthetics sales amounted to $372 million, declining by 7 percent. Bracing and supports proceeds fell 15 percent to reach $257 million. Sales of mechanical prosthetic products was stable in 2020 compared to 2019, while bionics sales shrank. Bracing and supports sales fell because the pandemic and associated lockdowns significantly impacted amateur sports and activity levels, resulting in fewer injuries. Elective surgeries like knee replacements were slowed as well, which also stifled demand for post-op bracing solutions. Osteoarthritis bracing proceeds were also affected due to limitations to physician access.
Last April, Össur won U.S. antitrust approval to buy College Park Industries on the condition it sold its Espire Elbow business, which U.K.-based Steeper Group acquired. According to a company spokesperson, the FTC approval was the last needed to close the deal—which occurred June 1 of last year.
Last May the company acquired design and visualization software for prosthetic and orthotic shape capture, design, and manufacture from privately held startup Standard Cyborg. Professionals can replace less efficient processes for socket-making with computer-aided design capabilities that use a tablet to capture 3D images and make modifications of the patient’s residual limb. The socket design can then be sent to Össur to create a custom socket.
“Before Standard Cyborg, design technologies for prosthetic sockets were unwieldy, time-consuming, and required expensive hardware,” Standard Cyborg CEO Jeff Huber told the press. “We are glad this technology has found a home in Össur, so that prosthetists will be able to help even more people with limb loss and limb difference,” he said.
A month later the company released several innovations for lower limb loss patients. The Balance Foot S lightweight, waterproof, fiberglass prosthetic foot features a wide sole blade and cushioning foam heel for smooth rollover and sit-to-stand movements. Balance Foot S Torsion is for low-active walkers looking for a lightweight, waterproof foot for everyday use. It has a torsion shock unit to assist with tuning movements, absorb shock, and restore lost rotational capabilities. The Iceross Seal-In X Locking textile silicone liner is compatible with all seal-rings and the Unity system, suitable for users of all abilities and activity levels.
A new, streamlined version of the firm’s Empower program rolled out last July. The smartphone app provides comprehensive practice management solutions for durable medical equipment (DME), prosthetic and orthotic suppliers, and orthotic and prosthetic practices. It touts inventory management, paperless dispensing, tracking, and replenishment through barcode scanning and PAR level notifications. Empower also allows timely, secure, and trackable DME product shipments to patients nationwide.
In August the firm established Össur Japan G.K. in Tokyo, which was operational from Jan. 1 of this year. The company continued working with Pacific Supply Co. Ltd., the firm’s exclusive prosthetics distributor in Japan since 1999.
$630 Million
Prior Fiscal: $686 Million
Percentage Change: -8.2%
No. of Employees: 4,000
Global Headquarters: Reykjavik, Iceland
KEY EXECUTIVES:
Jon Sigurdsson, President and CEO
Sveinn Sölvason, CFO
Margrét Lára Friðriksdóttir, EVP of HR and Corporate Strategy
Egill Jónsson, EVP of Manufacturing and Operations
Gudjon G. Karason, EVP of Clinics
Kristleifur Kristjánsson, EVP of Research and Development
Ólafur Gylfason, EVP Prosthetics SBU and Europe/Emerging
Christian Robinson, EVP of Bracing and Supports and Americas
Through a 20-year partnership, the Challenged Athletes Foundation (CAF) and Össur gave the gift of mobility to thousands of amputees. In October, five new high-profile celebrities and professional athletes received the firm’s running prosthetics.
Surprise moments included MLB’s Eric Byrnes and Kevin Millar, NFL’s Luke Kuechly, Professional Supercross Riders, and fitness supermodel-amputee Paola Antonini.
“For athletes with limb loss, participation in sports is not always possible due to the high cost of adaptive sports equipment not covered by medical insurance,” Travis Ricks, programs director for CAF and ambassador for Össur, said in an interview with KUSI News. “Our long-standing partnership between CAF and Össur has allowed individuals to regain their independence using running prosthetics, connecting with the community and getting instructional support for running and mobility.”
The $630 million Össur generated last year was an 8.2 percent revenue loss over the year prior. Prosthetics sales amounted to $372 million, declining by 7 percent. Bracing and supports proceeds fell 15 percent to reach $257 million. Sales of mechanical prosthetic products was stable in 2020 compared to 2019, while bionics sales shrank. Bracing and supports sales fell because the pandemic and associated lockdowns significantly impacted amateur sports and activity levels, resulting in fewer injuries. Elective surgeries like knee replacements were slowed as well, which also stifled demand for post-op bracing solutions. Osteoarthritis bracing proceeds were also affected due to limitations to physician access.
Last April, Össur won U.S. antitrust approval to buy College Park Industries on the condition it sold its Espire Elbow business, which U.K.-based Steeper Group acquired. According to a company spokesperson, the FTC approval was the last needed to close the deal—which occurred June 1 of last year.
Last May the company acquired design and visualization software for prosthetic and orthotic shape capture, design, and manufacture from privately held startup Standard Cyborg. Professionals can replace less efficient processes for socket-making with computer-aided design capabilities that use a tablet to capture 3D images and make modifications of the patient’s residual limb. The socket design can then be sent to Össur to create a custom socket.
“Before Standard Cyborg, design technologies for prosthetic sockets were unwieldy, time-consuming, and required expensive hardware,” Standard Cyborg CEO Jeff Huber told the press. “We are glad this technology has found a home in Össur, so that prosthetists will be able to help even more people with limb loss and limb difference,” he said.
A month later the company released several innovations for lower limb loss patients. The Balance Foot S lightweight, waterproof, fiberglass prosthetic foot features a wide sole blade and cushioning foam heel for smooth rollover and sit-to-stand movements. Balance Foot S Torsion is for low-active walkers looking for a lightweight, waterproof foot for everyday use. It has a torsion shock unit to assist with tuning movements, absorb shock, and restore lost rotational capabilities. The Iceross Seal-In X Locking textile silicone liner is compatible with all seal-rings and the Unity system, suitable for users of all abilities and activity levels.
A new, streamlined version of the firm’s Empower program rolled out last July. The smartphone app provides comprehensive practice management solutions for durable medical equipment (DME), prosthetic and orthotic suppliers, and orthotic and prosthetic practices. It touts inventory management, paperless dispensing, tracking, and replenishment through barcode scanning and PAR level notifications. Empower also allows timely, secure, and trackable DME product shipments to patients nationwide.
In August the firm established Össur Japan G.K. in Tokyo, which was operational from Jan. 1 of this year. The company continued working with Pacific Supply Co. Ltd., the firm’s exclusive prosthetics distributor in Japan since 1999.