08.04.23
Rank: #10 (Last year: #9)
$719 Million
Prior Fiscal: $719 Million
Percentage Change: 0%
R&D Expenditure: $34M
Best FY22 Quarter: Q4 $191M
Latest Quarter: Q1 $181M
No. of Employees: 3,892
Global Headquarters: Reykjavik, Iceland
KEY EXECUTIVES:
Sveinn Sölvason, President & CEO
Gudný Arna Sveinsdóttir, CFO
Ólafur Gylfason, Chief Commercial Officer
Christian Robinson, EVP of Americas and Global Bracing
Egill Jónsson, EVP of Operations
Gudjón G. Kárason, EVP of EMEA & APAC
Hildur Einarsdóttir, EVP of Research & Development
Margrét Lára Fridriksdóttir, EVP of People, Strategy & Sustainability
Patients with finger and partial hand loss are traditionally an underserved, yet growing population. To address this, in August 2022 Icelandic prosthetic and bracing company Össur purchased Naked Prosthetics, which provides durable, custom, and functional finger prostheses for finger and partial hand amputees.
Located in Olympia, Wash., Naked Prosthetics added about 70 employees to Össur’s workforce and strengthened its upper limb portfolio. In 2021, Naked Prosthetics claimed about $9 million in sales.
“Naked Prosthetics has developed functional and high-quality finger prostheses that complement our product portfolio and add an important range to our upper limb product offering,” Sveinn Sölvason, who took the company’s helm from Jon Sigurdsson on April 1, 2022, said in a company press release. “The acquisition strengthens our global market position, and we are pleased to welcome the employees of Naked Prosthetics to the Össur team.”
“Össur’s global reach and expertise make them an obvious and welcome next step for Naked Prosthetics’ goal of getting more finger amputees back to work and doing what they love,” added Bob Thompson, CEO of Naked Prosthetics. “We are excited to join forces with the Össur team and continue to grow the partial-hand prosthetic market.”
The Icelandic company’s sales remained flat in its fiscal year 2022 at $719 million. The Americas captured $351 million last year, growing 4%. That was the only global region that celebrated growth—EMEA revenue dropped 3% to $306 million and APAC claimed the remaining $62 million, a 4% fall. $440 million of gross profit (61% of sales) was claimed in 2022, compared to 2021’s $455 million (65% of sales).
Prosthetics posted $440 million in sales—63% of Össur’s FY22 revenue—which represented a small, 1% bump over the year prior. Bionic products accounted for 21% of prosthetics component sales and performed strongly in Q4 2022, taking 25% of prosthetics components. This was mainly driven by Power Knee sales, according to the company’s FY22 annual report. The company stated that going into 2023, the demand for the first motor-powered prosthetic knee continues to surge.
The company’s most momentous product release came last February, in the form of the Power Knee. According to Össur, it’s the first actively powered microprocessor prosthetic knee for patients with above-knee amputation of limb difference. The motor-powered “smart prosthesis” uses algorithms to detect movement patterns, learns, and adjusts to the user’s speed and cadence in real-time. Power Knee creates motion via active powered assistance while distinguishing whether it’s walking on varying surface, inclines, or declines, as well as sitting or standing.
When ascending, the wearer can perform a more natural “step-over-step” pattern, and have more controlled resistance when descending ramps or stairs. According to the company, the Power Knee’s motor-powered energy encourages wearers’ symmetrical motion and conserves their own energy.
The company also expanded its prosthetic foot portfolio to include 20 waterproof feet, according to its most fiscal year annual report. Bracing and supports products claimed the remaining 37% of FY22 sales with $263 million—a 1% drop from FY21.
$719 Million
Prior Fiscal: $719 Million
Percentage Change: 0%
R&D Expenditure: $34M
Best FY22 Quarter: Q4 $191M
Latest Quarter: Q1 $181M
No. of Employees: 3,892
Global Headquarters: Reykjavik, Iceland
KEY EXECUTIVES:
Sveinn Sölvason, President & CEO
Gudný Arna Sveinsdóttir, CFO
Ólafur Gylfason, Chief Commercial Officer
Christian Robinson, EVP of Americas and Global Bracing
Egill Jónsson, EVP of Operations
Gudjón G. Kárason, EVP of EMEA & APAC
Hildur Einarsdóttir, EVP of Research & Development
Margrét Lára Fridriksdóttir, EVP of People, Strategy & Sustainability
Patients with finger and partial hand loss are traditionally an underserved, yet growing population. To address this, in August 2022 Icelandic prosthetic and bracing company Össur purchased Naked Prosthetics, which provides durable, custom, and functional finger prostheses for finger and partial hand amputees.
Located in Olympia, Wash., Naked Prosthetics added about 70 employees to Össur’s workforce and strengthened its upper limb portfolio. In 2021, Naked Prosthetics claimed about $9 million in sales.
“Naked Prosthetics has developed functional and high-quality finger prostheses that complement our product portfolio and add an important range to our upper limb product offering,” Sveinn Sölvason, who took the company’s helm from Jon Sigurdsson on April 1, 2022, said in a company press release. “The acquisition strengthens our global market position, and we are pleased to welcome the employees of Naked Prosthetics to the Össur team.”
“Össur’s global reach and expertise make them an obvious and welcome next step for Naked Prosthetics’ goal of getting more finger amputees back to work and doing what they love,” added Bob Thompson, CEO of Naked Prosthetics. “We are excited to join forces with the Össur team and continue to grow the partial-hand prosthetic market.”
The Icelandic company’s sales remained flat in its fiscal year 2022 at $719 million. The Americas captured $351 million last year, growing 4%. That was the only global region that celebrated growth—EMEA revenue dropped 3% to $306 million and APAC claimed the remaining $62 million, a 4% fall. $440 million of gross profit (61% of sales) was claimed in 2022, compared to 2021’s $455 million (65% of sales).
Prosthetics posted $440 million in sales—63% of Össur’s FY22 revenue—which represented a small, 1% bump over the year prior. Bionic products accounted for 21% of prosthetics component sales and performed strongly in Q4 2022, taking 25% of prosthetics components. This was mainly driven by Power Knee sales, according to the company’s FY22 annual report. The company stated that going into 2023, the demand for the first motor-powered prosthetic knee continues to surge.
The company’s most momentous product release came last February, in the form of the Power Knee. According to Össur, it’s the first actively powered microprocessor prosthetic knee for patients with above-knee amputation of limb difference. The motor-powered “smart prosthesis” uses algorithms to detect movement patterns, learns, and adjusts to the user’s speed and cadence in real-time. Power Knee creates motion via active powered assistance while distinguishing whether it’s walking on varying surface, inclines, or declines, as well as sitting or standing.
When ascending, the wearer can perform a more natural “step-over-step” pattern, and have more controlled resistance when descending ramps or stairs. According to the company, the Power Knee’s motor-powered energy encourages wearers’ symmetrical motion and conserves their own energy.
The company also expanded its prosthetic foot portfolio to include 20 waterproof feet, according to its most fiscal year annual report. Bracing and supports products claimed the remaining 37% of FY22 sales with $263 million—a 1% drop from FY21.