Össur’s mission is to improve people’s mobility and our vision is to enable Life Without Limitations®. Össur is a technology pioneer and by listening to our end...

Our Business. Ossur.com

Össur’s mission is to improve people’s mobility and our vision is to enable Life Without Limitations®. Össur is a technology pioneer and by listening to our end-users and understanding their needs, as well as continuously improving and pushing the boundaries, we continue to create advanced mobility products and services. Össur fosters an inclusive and innovative culture with its diverse workforce. Össur continues to generate value for individuals and healthcare systems by focusing our business strategy on innovative solutions, delivering profitable and sustainable growth, and efficiency.

We embrace innovation in all our actions by creating value for our customers through functional trade-up and ease of doing business to ensure our consistently strong position in the market.

In 2022, Össur continued to invest around 5% of sales in research and development, amounting to USD 34 million, and launched 15 prosthetic and bracing & supports products to the market. Össur has a strong IP portfolio, with more than 2,000 patents and patent applications and the Össur brand is protected by around 650 trademark registrations. 

Following a limited launch in 2021, Össur’s next generation Power Knee™ was fully launched in Americas in February 2022, EMEA in March and APAC in April. The introduction of the new Power Knee marks a new era in powered prosthetics and is the result of years of research and development expertise as well as end-user and clinician feedback. The favorable reception for this first actively powered prosthetic knee, has more than met expectations as numerous successful fittings have been conducted among amputees of all ages and abilities. Both patient and provider reception of the product are very positive which fuels our ongoing dedication to improving people’s mobility. 

Össur successfully launched two new waterproof prosthetic feet for low to high active individuals, the Pro-Flex® ST and Pro-Flex® Modular. Waterproof features in devices are important for people living with limb loss or limb difference as the enhance usability and further enable them to live a Life Without Limitations.

Össur is also creating solutions to facilitate ease of doing business for our customers, such as the Össur Portal as well as applying innovative technology to enhance processes. We continued with our Össur Legs service for O&P clinics in the US where Össur offers complete prosthetic leg solutions, fabrication expertise, skilled design, a streamlined ordering process, and leg maintenance services. With Össur Legs and our broad prosthetic solutions offering, consisting of a wide range of feet, knees, sockets, liners and components, we are in a unique position to enable CPOs to dedicate more time to patients’ needs and optimize the productivity and value chain of O&P clinics. To support this growing offering, we have continued to invest in digital initiatives and provide the Össur Portal that contains a leg configurator catered to CPOs’ needs and simplifying the ordering process. 

Within the Bracing & Supports segment, Össur launched 5 new products in 2022, such as the CTi®3 knee brace which provides stabilization of the knee joint during sporting activities or daily wear. It is the latest addition to our ligament knee bracing flagship CTi® product family. 

We will achieve profitable and sustainable growth by generating value for individuals, customers and healthcare systems.

Organic sales growth was 4% in 2022 in line with the guidance for the year. Despite various external challenges in 2022 such as shortage of certain raw materials and components, COVID-19 impact in China and the continuous suspension of sales to Russia due to the ongoing war in Ukraine, the business grew across all markets and business segments in 2022. We ended the year with a strong quarter of growth driven by prosthetics sales in Americas and EMEA, whereas bionic sales were particularly strong. 

Össur has grown through a combination of organic and acquisitive growth with a Compounded Average Sales Growth rate of 17% since the Company was listed in 1999. Össur’s main growth priorities are functional trade-up, emerging markets, expanding in the value chain, and acquisitions.

Emerging markets offer a significant growth opportunity as penetration of prosthetics and bracing & supports products is still relatively low. We continued to invest in growing our Emerging Markets platform and further strengthened our direct sales and infrastructure. 

Össur’s strategy includes exploring growth opportunities through acquisitions that support our vision of enabling Life Without Limitations. In past years, Össur has both acquired and divested part of the business to strengthen the focus and support future growth of Prosthetics and Bracing & Supports. In 2022, Össur acquired Naked Prosthetics, a leading provider of functional finger prostheses. The acquisition addresses a critical need for people with finger and partial hand loss, traditionally an underserved yet growing population. It is a welcome addition to the Össur product portfolio as it strengthens Össur’s upper limb product offering globally and allows us to address a broader group of individuals.

We deliver profitable and sustainable growth

We run efficient operations in the most optimal locations, hire passionate employees and deliver strong profit and cash flow through manufacturing and operational efficiency.

Gross profit for 2022 amounted to 61% of sales, or 62% excluding special items mainly in connection to cost saving initiatives announced in Q3 2022, compared to 63% of sales for 2021. The gross profit margin was affected by temporary supply chain challenges including variable cost increases and related adverse impact on productivity. 

The EBITDA margin before special items for 2022 was 18%, in line with the guidance for the year. The EBITDA margin before special items was below a normalized level, both due to adverse impact on sales as well as higher supply chain related cost and OPEX.

Össur has been investing in an increasingly scalable infrastructure. As an example, the global manufacturing platform is consolidating with about 12 fewer locations since the year 2009. Investments have been made in centralized procurement (strategic sourcing) and implementation of a new CRM platform. The shared service center in Poland supports around 71% of Össur’s entities and the global IT department is supporting the majority of Össur‘s entities. Össur emphasizes manufacturing efficiency and a continuous improvement culture while protecting the environment. Össur has been actively reducing its carbon footprint and was Carbon Neutral again in 2022 for scope 1 and 2, and selected scope 3 emissions.

Our Business

Our Strategy

Innovation

Growth

Efficiency