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Ossur Hf: Össur acquires Touch Bionics

Announcement from Össur hf. No: 37/2016

Reykjavik, 11 April 2016

Össur has today signed an agreement to acquire Touch Bionics Limited, a
leading global provider of innovative upper limb prostheses and supporting
services. Touch Bionics has over 120 employees with operations in Scotland,
Germany, and the United States. In 2015, total sales amounted to GBP 15
million (USD 21 million) with an adjusted EBITDA of GBP 0.9 million (USD 1.3

The purchase price is GBP 27.5 million (USD 39 million), on a debt and cash
free basis. The acquisition is completed as of today and financed through
existing loan facilities. The acquisition does not affect the existing share
buyback program.

With this acquisition Össur enters into 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 worldwide market position in both
lower and upper limb prosthetics. The acquisition of Touch Bionics is a
further display of Össur's commitment to upgrading prosthetic technology
resulting in effective clinical outcomes and improved quality of life.

Synergies between the operations of Össur and Touch Bionics are expected to be
achieved over the next 2-3 years, ultimately increasing the EBITDA margin of
Touch Bionics to a similar level as for Össur. The acquisition will not have
an impact on the financial guidance provided for the full year.

Jon Sigurdsson, President&CEO of Össur:

"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.

Ian Stevens, CEO of Touch Bionics:

"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. Touch Bionics and Össur share
the same vision of helping amputees live a life without limitations with the
best innovation and technology available."

Contact persons:

Jon Sigurdsson, President&CEO Tel:
+354 515 1300

Sveinn Solvason, CFO
Tel: +354 515 1300

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About Össur

Össur (NASDAQ: OSSR) is a global leader in non-invasive orthopaedics that help
people live a life without limitations. Its business is focused on improving
people's mobility through the delivery of innovative technologies within the
fields of braces, supports and prosthetic limbs. A recognized "Technology
Pioneer", Össur invests significantly in research and product development;
its award-winning designs ensuring a consistently strong position in the
market. Successful patient and clinical outcomes are further empowered via
educational programs and business solutions. Headquartered in Iceland, Össur
has major operations in the Americas, Europe and Asia, with additional
distributors worldwide.

About Touch Bionics

Touch Bionics is a provider of world-leading prosthetic technologies designed
to achieve positive outcomes for people with upper limb deficiencies. Touch
Bionics was the first company to develop an electrically powered prosthetic
hand with five independently powered fingers and the company continues to be
a pioneer in upper limb prosthetics. The company's products include
electronic prosthetic hand and prosthetic fingers, as well as passive
silicone prostheses that closely match the natural appearance of the wearer.
A spin-out from the UK's National Health Service, Touch Bionics was founded
by inventor David Gow and was funded and supported by Archangel Investors
Limited and Scottish Enterprise. To learn more, visit


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ossur Hf via Globenewswire


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