Össur hf. - Tender offer

Ossur Hf : Össur acquires TeamOlmed in Sweden

Announcement from Össur hf. No:15/2013
Reykjavik, 21 May 2013


Össur acquires TeamOlmed in Sweden

Össur  has today signed an agreement to acquire 100% of the shares of TeamOlmed,
a  leading Swedish orthotic  and prosthetic (O&P)  provider, for SEK 310 million
(USD  47 million).  Additional payments of up  to SEK 50 million (USD 7 million)
depend  on TeamOlmed meeting certain revenue  and profitability targets in 2013
and 2014.

Össur  has  a  long  standing  business  relationship  with  TeamOlmed. With the
acquisition,  Össur gains a significant share  of the Swedish O&P market.  Össur
and TeamOlmed together will be a strong partner for county councils, prescribers
and patients offering innovative, cost effective and clinically proven solutions
in Sweden.

TeamOlmed  was created in 2011 through the  merger of Olmed Ortopediska (founded
in  1984) and  Team  Ortopedteknik  (founded  in  1994).  TeamOlmed  is Sweden's
largest  provider of O&P solutions to  patients with impaired mobility. The vast
majority  of sales  are through  contracts with  county councils  in Sweden. The
company  has over 300 employees in patient care centers in Stockholm, Jönköping,
Uppsala  and  several  other  locations  around  Sweden. Total revenues in 2012
amounted  to SEK 348 million (USD 52 million) with an adjusted EBITDA of SEK 43
million  (USD 6 million), which is expected to  be the full year impact to Össur
financials  once fully consolidated.  Total assets of  TeamOlmed amounted to SEK
419 million (USD 63 million) at end of year 2012.

The  purchase  price  is  paid  in  full  in  cash and financed through existing
financing  facilities.  The  acquisition is  subject to  approval from Stockholm
County Council and is expected to close in Q3 2013.


Jon Sigurðsson, President & CEO:"We  are  excited  to  partner  with  TeamOlmed  and  its employees. TeamOlmed's
expertise   and   commitment   in  providing  excellent  patient  care  is  very
complimentary  to Össur. This  acquisition is an  important milestone for Össur,
strengthening our position in an increasingly consolidated Swedish market."

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About Össur
Össur  (NASDAQ 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",  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. www.ossur.com

Forward-Looking Statements
This press release includes "forward-looking statements" which involve risks and
uncertainties that could cause actual results to differ materially from results
expressed or implied by these statements. Össur hf. undertakes no obligation and
does not intend to update these forward-looking statements to reflect events or
circumstances occurring after this press release. You are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the
date of this press release. All forward-looking statements are qualified in
their entirety by this cautionary statement.
  

[HUG#1703206]