The World Economic Forum announces new class of technology pioneers for 2006: Ossur selected

12/02/05



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The World Economic Forum today announced 36 Technology Pioneers for 2006. Ossur has been selected as one of these Technology Pioneers.

Technology Pioneers are companies that have been identified as developing and applying highly transformational and innovative technologies in the areas of energy, biotechnology and health, and information technology. This year's class of companies has been selected not only because of the cutting-edge work undertaken by the organizations, but also because their work has potential long-term impact on business and society.

In line with the Forum's commitment to improving the state of the world, the Technology Pioneers programme was established in 2000 to provide a new perspective on technological change. The programme is run by the World Economic Forum with Apax Partners and Deloitte Touche Tohmatsu as Strategic Partners. Through its Technology Pioneers programme, the Forum identifies and integrates those companies around the world that are involved in the design and development of new technologies. Each innovation, whether it has large or small consequences, is another step in society's attempt to harness, adapt and utilize technology to change and improve our world. The World Economic Forum is invested in monitoring and highlighting these innovations and exploring possible societal repercussions.

"The creative innovations produced by our Technology Pioneers hold the promise of significantly affecting the way business and society operate", said Peter Torreele, Managing Director of the World Economic Forum. "As a global knowledge hub, we see the Technology Pioneer community as key contributors to this dialogue and to the mission of the World Economic Forum." One of this year's Technology Pioneers is Ossur (Icelandic Stock Exchange: OSSR), a trusted and global leader in the development, manufacturing, distribution, sales and marketing of orthopaedics. Headquartered in Reykjavik, Iceland, the company has offices and a distribution network throughout the world, and over 900 employees. Given its mission to offer people a life without limitations, Ossur allocates an industry record of approximately six to eight percent of its revenue on medical technology research and development, and provides extensive education programs through the Ossur Academy. The company also supports and sponsors numerous community outreach programs and non-profit organizations. Website: www.ossur.com.

"Ossur is pleased to be recognized as a Technology Pioneer" stated Jon Sigurdsson, president and CEO of Ossur. "This forum brings together companies that are helping to shape not just the future of technology and commerce, but also the future of our global culture. It is important that those involved develop a better understanding of one another. This presents a unique opportunity for Ossur," commented Sigurdsson.

Each year, members, constituents and collaborators of the World Economic Forum nominate Technology Pioneers. The criteria for selection include:

  1. Innovation. The company's technology must be truly innovative. A new version or repackaging of an already well-accepted technological solution does not qualify as an innovation. The innovation should be recent not more than two years old. The company should invest significantly in R&D.
  2. Potential Impact. This company's technology must have the potential to have a substantial long-term impact on business and society in the future.
  3. Growth and Sustainability. The company should have all the signs of a long-term market leader and should have well-formulated plans for future development and growth.
  4. Proof of Concept. The company must have a product on the market or have proven practical applications of the technology. Companies in "stealth" mode and companies with untested ideas or models will not qualify.
  5. Leadership. The company must have visionary leadership that plays a critical role in driving the company towards reaching its goals.
  6. Status. The company must not currently be a Member of the World Economic Forum. This criterion applies to the parent company thus wholly-owned subsidiaries of large firms are not eligible.

Nominees are evaluated by an external review committee comprised of technology experts with respect to the criteria above.

In 2005, Ossur single-handedly transformed the nature of prosthetics with the launch of Bionic Technology by Ossur, a new technology platform which pushes the boundary of existing functional capabilities. Founded upon an interdiciplinary and precise fusion of electronics, mechanics, and human physiology, this new range of products includes Ossur's new products: the RHEO KNEETM and the POWER KNEETM, and will soon address the orthopedic market, as well. The goals are to remove the physical limitations caused by a patient's disability; remove the morbidity inherent in some conventional designs; and make the technology available to a wider group of patients.

The uniqueness of the Technology Pioneer network ensures that companies involved in the development of new technologies are engaged in an integrated and interdisciplinary way. The Technology Pioneers community will provide the Foundation and its members with in-depth knowledge of some of the key technology issues facing society.

Source: Eurekalert & others

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