Össur acquires powered ankle technology from Springactive Inc.
Global prosthetics innovator Össur has purchased technology related to the development of a powered ankle prosthesis from SpringActive, Inc., a privately held engineering firm that specializes in computer controlled prosthetic devices and industrial exo-systems, the companies announced jointly today.
REYKJAVIK, ICELAND and TEMPE, AZ – February 14, 2019 – Global prosthetics innovator Össur has purchased technology related to the development of a powered ankle prosthesis from SpringActive, Inc., a privately held engineering firm that specializes in computer controlled prosthetic devices and industrial exo-systems, the companies announced jointly today.
SpringActive’s powered prosthetic ankle technology enables the user to run and ambulate on all terrain, providing a range of motion intended to allow the user to balance and perform natural ankle positions. This acquisition concludes a multi-year collaboration where the teams from Össur and SpringActive explored the technology’s potential to spread across multiple product platforms within Össur. This successful collaboration was the result of a strong working relationship between the organizations and the complementary attributes between the two R&D groups.
Össur pioneered the bionic prosthetic field with the launch of several bionic prostheses; its BIONIC line is comprised of a range of battery-powered “smart” limbs that were designed to replicate the functionality of lost limbs. The strategic relationship between Össur and SpringActive has helped further Össur’s mission while also strengthening SpringActive’s ability to innovate in the O&P market.
"At Össur, we are committed to continually driving innovation in the field of prosthetics to empower more people to enjoy a life without limitations," said Jon Sigurdsson, the company’s CEO. “Our continuous exploration for these technologies is what brought our attention to SpringActive. Their accomplishments in Robotics offer important opportunities in the development of future generations of BIONIC prosthetic solutions. We are excited about this patent-protected technology and the opportunity it represents in expanding our lower limb Bionic product offering, which currently includes the RHEO KNEE®, the POWER KNEE™ and the PROPRIO FOOT®".
Dr. Jeffrey Ward, SpringActive’s Director of R&D, welcomed the acquisition,
Össur’s unmatched expertise in biomechanical functioning and proven ability to test and commercialize BIONIC products makes them the ideal candidate for fully leveraging the technology developed by SpringActive. This acquisition adds fuel to SpringActive’s innovation engine and supports our expansion efforts into the rapidly growing industrial exoskeleton market.
According to Sigurdsson, the purchase of SpringActive’s technology is aimed at further strengthening Össur‘s R&D activities, product innovation, and growing the company’s already strong of Intellectual Property portfolio. The purchase will not have an impact on Össur‘s financial guidance for 2019.
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 Prosthetics and Bracing & Supports. 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 Össur’s educational programs and business solutions. Headquartered in Iceland, Össur has major operations in the Americas, Europe and Asia, with additional distributors worldwide.
About SpringActive
SpringActive is a privately held small business established by a dedicated team of engineers and entrepreneurs to pursue commercially viable human performance augmentation devices. This team has been awarded several competitive government research contracts in the areas of compliant actuation, biomechanical energy harvesting, load carrying exoskeletons, and bionic prostheses. Their medical device research has been supported by the US Army Medical Research and Materiel Command, the National Institutes of Health, and the National Science Foundation. The owners of SpringActive, Inc. have come together with a common mission, to push the limits of existing technology for the development of practical systems that enhance human mobility.