|
|||
![]() |
|||
2008-03-31 17:53:39 CEST 2008-03-31 17:54:39 CEST REGULATED INFORMATION Össur hf. - Company AnnouncementOssur hf. divests its Advanced Wound Care product lineOssur hf. (OMX: OSSR), a leading global supplier of non-invasive orthopaedic devices, has divested its Advanced Wound Care product line to BSN medical GmbH, a leading global provider of wound care products. The divestiture strengthens Ossur's focus on the vast opportunities in the Company's core business segments. The transaction, which closed today, is valued at USD 11 million. Subject to certain conditions, the transaction value could further increase by up to USD 6 million. As previously disclosed, Ossur is involved in intellectual property litigation related to the Advanced Wound Care product line. The Company will retain responsibility for these. Part of the transaction value is reserved for covering future litigation expense exposure. Net sales gain recorded as other income in the first quarter of 2008 will be approximately USD 5.5 million. About Ossur: Ossur (OMX: 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, prosthetic limbs and compression therapy. A recognized "Technology Pioneer", Ossur 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 Ossur's educational programs and business solutions. Headquartered in Iceland, Ossur has major operations in the Americas, Europe and Asia, with additional distributors worldwide. About BSN medical: BSN medical is a global leader in the worldwide healthcare market specializing in the areas of Fracture Management, Physiotheraphy, Lymphology, Phlebology and wound care. BSN is focused on the development of world-class branded products that offer high quality solutions for its caregivers and patients. BSN medical was originally formed as a joint venture in 2001 between Beiersdorf and Smith & Nephew. In 2006, BSN medical became a fully independent player in the Wound Care, Orthopaedics and Phlebology segments. It was acquired by funds advised by Montagu Private Equity, a leading European private company established in 1968. With its headquarter located in Germany, it has major operations in Europe, in the Americas and Asia and operates via joint-ventures and distributors in other regions. |
|||
|