All agreed loans

Iceland. Össur hf

Date of agreement: 18 Dec 2019
Country: Iceland
Customer: Össur hf
Amount in EUR: EUR 50 million
Maturity: 7 years
NACE sector / loan type: Research and development
Business area: Industries and services

Project

The loan has been provided to finance in part Össur’s R&D during 2020–2023.

Össur hf develops and manufactures prosthetics and bracing & supports. The company’s research for 2020–2023 focuses partly on the development of advanced microprocessor-controlled (bionic) foot and knee prostheses as well as bionic arm and hand solutions. The aim is to increase the functionality of bionic hand prostheses and to further improve amputees’ life quality as well as to reduce falls among lower limb amputees.

Össur is a global leader in non-invasive orthopaedics headquartered in Reykjavik, Iceland. The company operates in 26 countries and has over 3,700 employees globally. Its operations in Iceland encompass R&D, M&O, Global Marketing and Corporate Finance.

Fulfilment of NIB's mandate

Össur has a high success rate in research and development, which is reflected in the number of new patents and product launches. Össur’s research for 2020–2023 will continue to support the company’s growth and productivity. The company’s R&D intensity is expected to further increase in coming years.

Impact indicators:

R&D expenditure during 2020–2023, in USD million

Increase in R&D intensity, measured in %

Share of new products in total sales, measured in %

Sustainability summary

No sustainability issues have been identified in connection to the R&D programme.

Press release

NIB fjármagnar rannsóknir og þróun á stoðtækjum