The sale will see Touch Bionics, which currently employs over 120 people, merge with the Icelandic firm to allow it entry into the upper limb prosthetics market, enabling the company to offer a complete bionic product portfolio to customers in the prosthetic industry.
Jon Sigurdsson, president and CEO of Össur said: “Touch Bionics has developed cutting edge upper limb technology and created a strong brand presence over recent years.
“Össur and Touch Bionics are committed to pushing the boundaries of bionic technology to enable amputees to live a life without limitations.”
Touch Bionics was the first company to develop an electrically powered prosthetic hand with five independently powered fingers.
After being the first company to be spun out of the NHS in Scotland in 2003, after funding led by Edinburgh-based Archangels, Touch Bionic arms and hands have now been fitted to thousands of people.
Last year, the company launched the i-limb quantum whichincorporates the company’s patented i-mo™ technology and is the first upper limb prosthesis that can change grips with a simple gesture.
David Gow CBE, founder of Touch Bionics and inventor of the i-limb, said: “My aspirations for Touch Bionics have been more than realised and I am extremely proud and delighted that Touch Bionics’ new home will be with Össur.
“I am confident that this will mean that the i-limb and i-digits will be taken forward in safe hands, enabling even more wearers to benefit from this life enhancing technology.”