Össur hf. agreed to acquire Fior & Gentz Gesellschaft Für Entwicklung Und Vertrieb Von Orthopädietechnischen Systemen Mbh for ?120 million.
January 15, 2024
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Össur hf. (CPSE:OSSR) signed an agreement agreed to acquire Fior & Gentz Gesellschaft Für Entwicklung Und Vertrieb Von Orthopädietechnischen Systemen Mbh for ?120 million on January 16, 2024. The purchase price (enterprise value) for Fior & Gentz is ?100 million plus a contingent additional purchase price (earnout) of estimated ?10 million, maximum ?20 million depending on sales performance in the years 2024-2026. Today, Össur pays ?60 million in cash, financed partly through additional credit facilities, and issues new shares worth ?25 million to the sellers of Fior & Gentz. The remaining ?15 million will be paid in cash two years after closing. In connection with the acquisition, the Board of Directors of Össur has resolved to issue 6,636,122 new shares in Össur. The price of each new share is DKK 28.10 and the total value of the share capital increase is thus DKK 186 million (?25 million). The sellers of Fior & Gentz subscribe to all the new shares. In 2023, Fior & Gentz reached total sales of approx. ?21 million. As part of the transaction, Össur will from Q1 2024 be renaming its Prosthetics sales segmentation to Prosthetics & Neuro Orthotics where Fior & Gentz?s sales will be included. The transaction is not subject to any regulatory approvals and the effective date for the financials of Fior & Gentz is January 1, 2024.
Össur hf. (CPSE:OSSR) completed the acquisition of Fior & Gentz Gesellschaft Für Entwicklung Und Vertrieb Von Orthopädietechnischen Systemen Mbh on January 16, 2024
Embla Medical hf, formerly Ossur hf, is an Iceland-based company that operates within the field of medical equipment and supplies sector. The Company is active in the development and distribution of products in the fields of non-invasive prosthetics, medical braces and supports. The Company's business activities are divided into three business segment: The Prosthetics, its product portfolio includes a range of lower and upper limb prosthetic components; The Bracing & Supports, which offers the Unloader One range of knee braces that relieve pain from knee osteoarthritis, as well as the Unloader Hip which is designed to reduce pain by optimizing load dispersion for patients suffering from mild and moderate osteoarthritis of the hip; and The Patient Care, which operates a network of Patient Care clinics around the world, with each one catering to individual patients and their needs.
EMBLA MEDICAL HF. 
