We are dedicated to pushing the boundaries of existing technology in order to break the barriers on progress so we can help more people live a life without limitations.

CEO’s Address

As a pioneer of innovation and technological advancements, Össur is a global leader in non-invasive orthopaedics. We are dedicated to pushing the boundaries of existing technology in order to break the barriers on progress so we can help more people live a life without limitations.

Expanding our product offering

This last year has provided us with opportunities to diversify our product portfolio and to increase our impact as an industry leader. The prosthetics side of our business made huge strides with the acquisition of Medi Prosthetics and Touch Bionics. Medi Prosthetics brings a full line of products to help us complete our offerings for lower extremity prosthetics. The addition of Touch Bionics will allow us to add cutting edge upper extremity prosthetics to our product offerings. Incorporating these two allies into Össur will allow us to reach a wider range of patients and help more individuals live lives without limitations.

Impressive outcomes

In 2016, our bracing and supports products paved the way for future breakthroughs with our participation in a revolutionary stem cell treatment for joint pain in Australia. With Össur braces being used as part of the treatment regimen, the dramatic results showed that half of the patients had a 75% improvement in pain. These impressive outcomes show great promise for the future prognosis of joint ailments. Additionally, our innovative Rebound® PCL brace won the Sports Medicine Award in the rehabilitation category from Orthopedics This Week.

Strong operational results

We continue to focus investments on growth opportunities, as well as returning value to shareholders through dividends and share buybacks. We are happy to close another year with strong operational results. We saw good sales growth in both EMEA and Americas resulting in 9% growth and sales of USD 521 million. We have been focused on optimizing our business processes and strengthening our competitive advantage through operational excellence.

Our customers continue to inspire us

Exceeding all expectations, our athletic community raised the bar in various events across the world. Team Össur truly shined at the Rio Paralympics this year in Brazil, winning 26 medals. We also had the opportunity to participate in the first ever Cyblathon event that showcased how those with disabilities work through their daily challenges with the help of modern technology. The outstanding courage and dedication exhibited by these athletes is an inspiration to us all.

Increasing mobility

Our strategy is built on three pillars; innovation, growth, and efficiency. We are committed to making people’s lives better by improving their mobility with our products and services, and we are committed to creating value and delivering long-term profitable growth for our stakeholders. By focusing on increasing the mobility of our end-users, staying true to our values, and striving for innovation, we are ensuring our success as an industry leader. At Össur, we are proud of our accomplishments. We have dedicated employees, we are grateful to our customers for their business and trust, and we are thankful for the support of our shareholders.

Jon Sigurdsson

Össur President and CEO

Össur 2016 Annual Report