Khaitan & Co Advised Ossur on the deal
Össur executed the acquisition of College Park Industries, a global provider of lower and upper limb prostheses and supporting services.
College Park has over 140 employees and is headquartered in Detroit, USA. Total sales amounted to USD 22 million in 2018.
College Park will largely remain independent and continue to serve its customer base, while allowing the combined entity to achieve strategic efficiencies.
Össur is committed to growing the College Park brand over the coming years both in the United States and international markets.
The transaction will be financed through existing loan facilities and does not affect the existing share buyback program. Closing is expected later in 2019 subject to closing conditions and regulatory review.
Ossur hf. operates as a non-invasive orthopaedics development company. The Company, led by Jon Sigurdsson, Sveinn Solvason and Olafur Gylfason, focuses on improving people’s mobility by providing prosthetics, bracing, and supports. In 2018 Ossur HF recorded $612 million revenues.
Khaitan & Co Advised Ossur on the deal with a team including Rabindra Jhunjhunwala (Picture), Stuti Galiya (Counsel), Shayak Sircar and Anvita Mishra.
Law Firms: Khaitan & Co.;
Clients: Ossur hf;