🇮🇸 Össur establishes new parent organization to be named Embla Medical

Össur proposes to establish a new parent organization to be named Embla Medical, which will become the listed company. This change will formally be implemented by changing the name of the Össur hf. entity to Embla Medical hf.

Over the years the Company has evolved and now operates across the whole value chain, serving individuals with chronic mobility challenges in need of prosthetics, neuro orthotics and bracing solutions. Today the Company operates several product and patient care brands in these segments, creating an opportunity to establish a unified parent entity with a shared purpose of helping people live a Life Without Limitations.

“In our journey to become a global provider of mobility solutions, we have been fortunate to add several individual brands to our portfolio that all greatly benefit from being part of a synergistic organization, servicing patients in need of prosthetics, neuro orthotics, and bracing & supports solutions. The structure of our organization needs to reflect this evolution and therefore we are establishing Embla Medical as our parent entity. This will enable all our established brands to flourish within their respective markets while harvesting synergies and support from Embla Medical,” says Sveinn Sölvason, President and CEO.

In Norse mythology, Embla was the first woman on earth and references new beginnings, movement, and freedom. The name further embraces the Company’s Nordic heritage.

The name change to Embla Medical will not affect customers doing business with its subsidiaries. Embla Medical will be the parent to product brands Össur, College Park, and FIOR & GENTZ in addition to the Company’s portfolio of patient care facilities around the world. The customer facing brands will therefore continue to provide patients and providers with the high-quality mobility solutions and exceptional service they are known for.

This proposal is subject to approval at the Annual General Meeting, which will be held on 13 March 2024. Össur’s majority shareholder, William Demant Invest A/S, supports the proposal. As soon as possible after the official name change, the trade ticker on Nasdaq Copenhagen will be changed to EMBLA. No other changes will be made to the listing.

Originally published on 21 February by Össur.

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