NIB finances R&D in prosthetics

NIB and Össur hf. (Össur), a global developer and manufacturer of non-invasive orthopaedics, have signed a loan of EUR 50 million to finance in part the company’s R&D during 2020–2023.

Össur develops and manufactures artificial limbs, bracing and supports. The company’s research focuses on the development of new products and the improvement of existing solutions.

Approximately 200,000 individuals become lower limb amputees in the western world each year. To support these individuals, Össur develops microprocessor-controlled (bionic) foot and knee prostheses as well as bionic arm and hand solutions. The company’s R&D aims to increase the functionality of its bionic hand prostheses and to further improve its bionic foot and knee prostheses to increase amputees’ life quality and reduce falls among lower limb amputees.

“Bionic solutions are a significant advancement in the prosthetics industry and have a large influence of people’s quality of life. The investment will help to advance the research in the field and contribute to the development of new products”, says Henrik Normann, NIB President & CEO.

Össur is a global leader in non-invasive orthopaedics headquartered in Reykjavik, Iceland. The company has operations in 26 countries and has over 3,700 employees globally. Össur is listed on Nasdaq Copenhagen.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact

Mr Nicolas Audibert, Director, Head of Industries & Services, at +358 10 618 0689, nicolas.audibert@nib.int

Ms Lisa-Maria Altenberger, Communications Unit, at +358 10 618 0234, lisa-maria.altenberger@nib.int