Ossur Hf : Össur has completed the acquisition of TeamOlmed

1 oktober 2013 Announcement from Össur hf. No:22/2013 Reykjavik, 1 October 2013 Össur has completed the acquisition of TeamOlmed Össur has completed the acquisition of TeamOlmed, announced on 21 May 2013. All conditions have been fulfilled and TeamOlmed will be included in the Össur Consolidation as of 1 October 2013.  TeamOlmed was acquired for SEK 310 million (USD 49 million). Sales for TeamOlmed for the full year 2013 are expected to amount to USD 52 million with an EBITDA margin of 12%. Sales for Q4 are expected to amount to USD 16 million with an 18-20% EBITDA margin. Sales and EBITDA are seasonally strong in Q4. The excess purchase price (Goodwill) amounts to about USD 39 million, of which an estimated 15-20% are considered intangible assets that will be amortized over a period of approximately 5 years. TeamOlmed is Sweden's largest provider of O&P solutions to patients with impaired mobility and has over 300 employees in patient care centers in Stockholm, Jönköping, Uppsala and several other locations around Sweden. Össur press releases by e-mail If you wish to receive Össur press releases by e-mail please register at the following web-site: http://www.ossur.com/investormailings. 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.   This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Ossur Hf via Thomson Reuters ONE [HUG#1732585]