08.11.20
Rank: #9 (Last year: #9)
$686 Million
Prior Fiscal: $613 Million
Percentage Change: +11.9%
No. of Employees: 3,382
Global Headquarters: Reykjavik, Iceland
KEY EXECUTIVES:
Jon Sigurdsson, President and CEO
Sveinn Sölvason, CFO
Egill Jónsson, EVP of Manufacturing and Operations
Gudjon G. Karason, EVP of Clinics
Margrét Lára Friðriksdóttir, EVP of Human Resources and Corporate Strategy
Dr. Kristleifur Kristjansson, EVP of Research and Development
Ólafur Gylfason, EVP of Sales & Marketing
Christian Robinson, EVP of Bracing and Supports and America
The Alfred Mann Foundation’s (AMF) implanted myoelectric sensor (IMES) system are implanted in muscles that directly control a bionic prosthetic limb’s desired movement. The implants sense a tiny electrical charge in muscle tissue and wirelessly send information to a prosthetic limb when the user intends to make specific movements. The result is a bionic limb that responds virtually the same way a sound arm, hand, or leg would.
The world’s first-in-man cases to evaluate AMF’s IMES technology were conducted in 2014 on upper-limb amputees from the U.S. military using i-Limb bionic prosthetic hands produced by Iceland-based prosthetics and bracing firm Össur. A year later, two Icelandic lower-limb amputees with IMES units implanted into residual muscle tissue demonstrated the ability to control their Össur leg prostheses with their intentions.
The IMES system served as a bridge between the amputee users’ neuro-muscular system and artificial limbs, so the learning process took place subconsciously and continuously. The system has also been used successfully in a pilot study to control an entire bionic arm in amputees who had undergone targeted muscle re-innervation surgery. And last November, Össur and AMF signed a milestone agreement that allows Össur to further develop and license AMF’s IMES system as both organizations continue to explore the potential of mind-controlled prosthetic technologies.
“We are eager to further explore how the user-experience will evolve when amputees use our advanced bionic prosthetic solutions along with this advanced sensor technology,” said Jón Sigurdsson, president and CEO of Össur. “This agreement is another demonstration of our company’s continuing commitment to ongoing research and development in the field of advanced prosthetics, to help more people enjoy a life without limitations. Our bionic products are truly ready to step into the future,” he said.
Össur celebrated its 20-year anniversary as a publicly listed company with further success, growing fiscal 2019 sales 5 percent to $686 million. According to Sigurdsson, the firm launched over 25 products and a number of incremental updates within both its prosthetic and bracing & supports businesses. Strong revenue growth was mainly driven by excellent prosthetic segment performance and high-end solutions in both businesses. Favorable product mix changes and savings from ongoing efficiency initiatives also boosted profitability.
Össur’s prosthetics sales swelled beyond estimated market growth, rising 7 percent to reach $378 million. High-end carbon fiber mechanical feet products and bionics continued their strong sales globally. Bionics made up 23 percent of prosthetics component sales; main market EMEA growth was healthy, as was APAC growth in emerging markets. Americas sales flourished apart from lower than expected U.S. sales to “a certain customer in the fourth quarter of the year,” according to the firm’s fiscal 2019 annual report.
The company bolstered its prosthetics business last February by purchasing powered ankle technology from privately held engineering firm SpringActive Inc., which specializes in computer controlled prosthetic devices and industrial exo-systems. SpringActive’s technology enables users to run and walk on all terrains with a range of motion that is intended to allow balance and performance of natural ankle positions. According to Sigurdsson, the purchase was aimed at strengthening the company’s R&D activities and product innovation, and did not have an impact on the firm’s financial guidance for 2019.
Global provider of lower and upper limb prostheses and supporting services College Park Industries, whose 2018 sales totaled $22 million, was bought last July. College Park will remain independent and continue to serve its customer base according to Össur, who hopes to support College Park’s focus on the lower active population and further strengthen established presence in the upper limb arena. The acquisition did not affect financial guidance for the year, according to the company.
“College Park has created a strong brand presence over the past decades, recognized for its quality products and stellar service,” Sigurdsson told the press. “It has also made important strides towards technology upgrade in the upper limb arena, an area where Össur hopes to support further development. We believe the joint efforts of the two brands will benefit our customers’ experience worldwide, all the while focusing on delivering the best solution for the end-user.”
The first new prosthetics launch was the new Proprio Foot last January. It is the latest generation of the world’s first bionic ankle with enhanced capabilities to reduce the risk of stumbles and falls. It also automatically detects terrain, adjusting the ankle position on the fly. The new model adapts to varied terrain 60 percent faster than the previous one, according to the company. It also boosts toeoff power 44 percent with a 23 percent increase in range of motion over the previous Proprio Foot. An upgraded Össur Logic app allows professional easy setup, adjusted functionality for each user, and access to valuable activity reports.
Last year also saw the release of i-Limb Wrist, a powered wrist rotator for the firm’s i-Limb hands. When used with the i-Limb Quantum, i-Limb Wrist offers transradial level absence patients simultaneous rotation upon grip selection. It supports conventional control options, including co-contraction and high/low. A proprietary SMART control algorithm and embedded encoder calibrates i-Limb Wrist to each wearer’s unique muscle activities.
Bracing and supports proceeds rose a slight 3 percent over the prior year, coming to rest at $308 million. The Rebound and Unloader franchises mainly provoked this segment’s growth in all market regions. There were solid gains in the APAC, EMEA, and Americas markets, but a competitive market environment in the U.S. and France somewhat offset them.
The Formfit Pro Knee Quest and Formfit Pro Knee Flite compression knee sleeves hit the shelves last July. Both feature custom MotionTech 3D knit construction for medical grade compression, breathability, moisture wicking, and a skintight fit. Formfit Pro Knee Quest helps realign the patella for conditions like Chondromalacia Patella (runner’s knee), mild strains and sprains, knee pain, and instability. The most lightweight compressive knee sleeve in the firm’s portfolio, Formfit Pro Knee Flite is designed to help with mild knee instability.
Össur introduced the Unloader One X knee brace last September. Its biomechanical properties provide pain relief and functional improvements for those suffering from unicompartmental knee osteoarthritis and degenerative meniscal tears. A patented three-point leverage system and dual DFS straps biomechanically unload the affected knee compartment to reduce pain. Lightweight and breathable soft-edge shells conform to each patient’s leg anatomy, and soft single-seamed straps eliminate bulk at the back of the knee and minimize chafing.
The Miami J Cervical Collar for gross cervical spine immobilization and Miami TLSO advanced spinal compression support system for gross spinal immobilization up to T7 also debuted last September. Miami J offers the widest range of height adjustability in the market according to the company, and a patented locking mechanism encourages patient compliance. The pre-assembled Miami TLSO brace offers three configurations in one. It can be worn in over the shoulder or underarm configuration, with obvious quick release buckles for quick donning and doffing.
$686 Million
Prior Fiscal: $613 Million
Percentage Change: +11.9%
No. of Employees: 3,382
Global Headquarters: Reykjavik, Iceland
KEY EXECUTIVES:
Jon Sigurdsson, President and CEO
Sveinn Sölvason, CFO
Egill Jónsson, EVP of Manufacturing and Operations
Gudjon G. Karason, EVP of Clinics
Margrét Lára Friðriksdóttir, EVP of Human Resources and Corporate Strategy
Dr. Kristleifur Kristjansson, EVP of Research and Development
Ólafur Gylfason, EVP of Sales & Marketing
Christian Robinson, EVP of Bracing and Supports and America
The Alfred Mann Foundation’s (AMF) implanted myoelectric sensor (IMES) system are implanted in muscles that directly control a bionic prosthetic limb’s desired movement. The implants sense a tiny electrical charge in muscle tissue and wirelessly send information to a prosthetic limb when the user intends to make specific movements. The result is a bionic limb that responds virtually the same way a sound arm, hand, or leg would.
The world’s first-in-man cases to evaluate AMF’s IMES technology were conducted in 2014 on upper-limb amputees from the U.S. military using i-Limb bionic prosthetic hands produced by Iceland-based prosthetics and bracing firm Össur. A year later, two Icelandic lower-limb amputees with IMES units implanted into residual muscle tissue demonstrated the ability to control their Össur leg prostheses with their intentions.
The IMES system served as a bridge between the amputee users’ neuro-muscular system and artificial limbs, so the learning process took place subconsciously and continuously. The system has also been used successfully in a pilot study to control an entire bionic arm in amputees who had undergone targeted muscle re-innervation surgery. And last November, Össur and AMF signed a milestone agreement that allows Össur to further develop and license AMF’s IMES system as both organizations continue to explore the potential of mind-controlled prosthetic technologies.
“We are eager to further explore how the user-experience will evolve when amputees use our advanced bionic prosthetic solutions along with this advanced sensor technology,” said Jón Sigurdsson, president and CEO of Össur. “This agreement is another demonstration of our company’s continuing commitment to ongoing research and development in the field of advanced prosthetics, to help more people enjoy a life without limitations. Our bionic products are truly ready to step into the future,” he said.
Össur celebrated its 20-year anniversary as a publicly listed company with further success, growing fiscal 2019 sales 5 percent to $686 million. According to Sigurdsson, the firm launched over 25 products and a number of incremental updates within both its prosthetic and bracing & supports businesses. Strong revenue growth was mainly driven by excellent prosthetic segment performance and high-end solutions in both businesses. Favorable product mix changes and savings from ongoing efficiency initiatives also boosted profitability.
Össur’s prosthetics sales swelled beyond estimated market growth, rising 7 percent to reach $378 million. High-end carbon fiber mechanical feet products and bionics continued their strong sales globally. Bionics made up 23 percent of prosthetics component sales; main market EMEA growth was healthy, as was APAC growth in emerging markets. Americas sales flourished apart from lower than expected U.S. sales to “a certain customer in the fourth quarter of the year,” according to the firm’s fiscal 2019 annual report.
The company bolstered its prosthetics business last February by purchasing powered ankle technology from privately held engineering firm SpringActive Inc., which specializes in computer controlled prosthetic devices and industrial exo-systems. SpringActive’s technology enables users to run and walk on all terrains with a range of motion that is intended to allow balance and performance of natural ankle positions. According to Sigurdsson, the purchase was aimed at strengthening the company’s R&D activities and product innovation, and did not have an impact on the firm’s financial guidance for 2019.
Global provider of lower and upper limb prostheses and supporting services College Park Industries, whose 2018 sales totaled $22 million, was bought last July. College Park will remain independent and continue to serve its customer base according to Össur, who hopes to support College Park’s focus on the lower active population and further strengthen established presence in the upper limb arena. The acquisition did not affect financial guidance for the year, according to the company.
“College Park has created a strong brand presence over the past decades, recognized for its quality products and stellar service,” Sigurdsson told the press. “It has also made important strides towards technology upgrade in the upper limb arena, an area where Össur hopes to support further development. We believe the joint efforts of the two brands will benefit our customers’ experience worldwide, all the while focusing on delivering the best solution for the end-user.”
The first new prosthetics launch was the new Proprio Foot last January. It is the latest generation of the world’s first bionic ankle with enhanced capabilities to reduce the risk of stumbles and falls. It also automatically detects terrain, adjusting the ankle position on the fly. The new model adapts to varied terrain 60 percent faster than the previous one, according to the company. It also boosts toeoff power 44 percent with a 23 percent increase in range of motion over the previous Proprio Foot. An upgraded Össur Logic app allows professional easy setup, adjusted functionality for each user, and access to valuable activity reports.
Last year also saw the release of i-Limb Wrist, a powered wrist rotator for the firm’s i-Limb hands. When used with the i-Limb Quantum, i-Limb Wrist offers transradial level absence patients simultaneous rotation upon grip selection. It supports conventional control options, including co-contraction and high/low. A proprietary SMART control algorithm and embedded encoder calibrates i-Limb Wrist to each wearer’s unique muscle activities.
Bracing and supports proceeds rose a slight 3 percent over the prior year, coming to rest at $308 million. The Rebound and Unloader franchises mainly provoked this segment’s growth in all market regions. There were solid gains in the APAC, EMEA, and Americas markets, but a competitive market environment in the U.S. and France somewhat offset them.
The Formfit Pro Knee Quest and Formfit Pro Knee Flite compression knee sleeves hit the shelves last July. Both feature custom MotionTech 3D knit construction for medical grade compression, breathability, moisture wicking, and a skintight fit. Formfit Pro Knee Quest helps realign the patella for conditions like Chondromalacia Patella (runner’s knee), mild strains and sprains, knee pain, and instability. The most lightweight compressive knee sleeve in the firm’s portfolio, Formfit Pro Knee Flite is designed to help with mild knee instability.
Össur introduced the Unloader One X knee brace last September. Its biomechanical properties provide pain relief and functional improvements for those suffering from unicompartmental knee osteoarthritis and degenerative meniscal tears. A patented three-point leverage system and dual DFS straps biomechanically unload the affected knee compartment to reduce pain. Lightweight and breathable soft-edge shells conform to each patient’s leg anatomy, and soft single-seamed straps eliminate bulk at the back of the knee and minimize chafing.
The Miami J Cervical Collar for gross cervical spine immobilization and Miami TLSO advanced spinal compression support system for gross spinal immobilization up to T7 also debuted last September. Miami J offers the widest range of height adjustability in the market according to the company, and a patented locking mechanism encourages patient compliance. The pre-assembled Miami TLSO brace offers three configurations in one. It can be worn in over the shoulder or underarm configuration, with obvious quick release buckles for quick donning and doffing.