Össur of Iceland buys Livingston’s Touch Bionics

Livingston-based prosthetic technologies firm Touch Bionics has been bought for £27.5 million by Icelandic company Össur.

Touch Bionics has more than 120 employees at its operations in Scotland, Germany and the United States.

In 2015, Touch Bionics had sales of £15 million.

“With this acquisition Össur enters into the upper limb prosthetic market enabling the company to offer a complete bionic product portfolio to customers in the prosthetic industry,” said Össur in a statement.

“Together, both companies are well positioned to further strengthen their worldwide market position in both lower and upper limb prosthetics.

“The acquisition of Touch Bionics is a further display of Össur’s commitment to upgrading prosthetic technology resulting in effective clinical outcomes and improved quality of life.”

Jon Sigurdsson, CEO of Össur said: “Touch Bionics has developed cutting edge upper limb technology and created a strong brand presence over recent years.

“This acquisition is an important milestone for Össur as it marks our entry into the upper limb prosthetic market.

“Össur and TouchBionics are committed to pushing the boundaries of bionic technology to enable amputees to live a life without limitations.”

Ian Stevens, CEO of Touch Bionics: “There are exciting times ahead and we look forward to being a part of the Össur organization.

“Össur has a strong presence in the market and is known for being a technology leader in prosthetics.

“Touch Bionics and Össur share the same vision of helping amputees live a life without limitations with the best innovation and technology available.”