Ossur hf. (ICEX: OSSR), a trusted and leading global supplier of orthopaedic devices, announced today that it has acquired the Gibaud Group in France in a transaction valued at approximately USD 132 million (Euro 101 million). The Gibaud Group is a local leader in the design, production and distribution of medical devices used in the non-invasive orthopaedics sector, specializing in bracing, soft goods and compression therapy products (phlebology). The transaction closed today and Ossur will take over the operations of the Gibaud Group effective immediately.
This is Ossur's second largest acquisition to date, and is in line with Ossur's strategic growth plans in the non-invasive orthopaedics industry.
Commenting on the transaction, Ossur's President & CEO Jn Sigurdsson stated:
"This acquisition is a milestone acquisition for us and in line with our strategy of consolidating the bracing and the soft goods segment of the non-invasive orthopaedics market on a global level. We are also entering a new and important segment of the non-invasive orthopaedics market in Europe, the phlebology segment, which is synergistic with the other non-invasive orthopaedic businesses in Europe."
Gibaud's main product lines are braces & supports and compression therapy products. The bracing and support market in France is estimated to be valued at approximately USD 130 million. Gibaud Group is the second largest player with a market share in excess of 20%. The phlebology market is a new market segment for Ossur. The local French market is estimated to be valued at more than USD 130 million. The Gibaud Group holds more than 10% of the market and is the third largest player on the market. Gibaud's current product lines, strong market position, and knowledge and experience will increase Ossur's opportunities in Europe, especially in southern Europe.
Key benefits of the acquisition of the Gibaud Group: