Ossur hf. acquires the Gibaud Group in France

a strong brand in France dating back to 1890
  • Access to a strong sales network with comprehensive and nationwide coverage
  • Entry into a new dynamic product segment: phlebology

    Gibaud Group
    Gibaud was established in 1890 and employs 361 people. The company operates two production facilities, one in Saint Etienne and a newer one in Trevoux (north of Lyon) specialized in manufacturing phlebology products. Gibaud manufactures and sells orthopaedic devices which are used to manage a wide range of conditions in private practices, hospitals and via self-medication. Gibaud also manufactures specialist devices for use in compression therapy, rheumatology, traumatology or emergency treatments. Gibaud is one of the most recognized brands by orthopaedy/medical professionals in France, as well as a household brand for the general public. The majority of sales are through pharmacies and orthopaedic outlets. The Gibaud Group employs more than 65 people directly in sales. The group sells to more than 10.000 pharmacies in France.

    Effective today Mr. Philippe Laratte, former COO of the Gibaud Group, will be appointed Managing Director of the group.

    "We are excited about this opportunity to work with Ossur as a strategic partner to expand our business in France and throughout Europe. This is also an excellent opportunity to leverage the Ossur products into our sales channels," stated Philippe Laratte.

    For the fiscal year ending 30 June 2006, the total sale of Gibaud were 41,7 million and the EBITDA margin 21%. One time restructuring expenses of 5 million are expected in 2006 plus an estimated 2 million in inventory step up in 2007. Sales in 2007 are expected to be in the range of 44 million and EBITDA without one time expenses and inventory step up around 18%. Gibaud will form part of the consolidated group accounts, even though it will not be integrated into the Ossur consolidation in the same way as

  • Contact: Beverly Millson

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