Ossur recognized with Frost & Sullivan 2006 Innovative Technology Award
For second year in a row, Ossur's Bionic Technology takes the prize
October 26, 2006 (ALISO VIEJO, CA) – Ossur (ICEX: OSSR) – the Iceland-based developer and supplier of orthopedic devices – has launched more scientifically advanced prosthetic innovations than any other company in the field. That technological superiority, its commitment to R&D, and its significant contributions to enhancing amputees' lives, today merited Frost & Sullivan's 2006 Medical Devices Technology Innovation Award for Ossur's Bionic Technology family of products.
In 2005, Ossur took the same award for its first Bionic Technology product, the RHEO KNEETM, a system so smart it automatically adapts to the wearer's walking style and environment, learning continuously until it reaches optimal efficiency. The 2006 award honors Ossur's entire and expanded Bionic Technology platform that now includes two additional ground-breaking prostheses that represent a seamless fusion of electronics, mechanics, and human physiology.
One is the POWER KNEETM, the world's first motor-powered knee that replaces true muscle activity, thus making it possible, for the first time ever, for an amputee to go up stairs and inclines foot-over-foot. The other – and the latest to launch – is the PROPRIO FOOTTM, the world's first motor-powered and intelligent foot that thinks for itself. The PROPRIO FOOTTM, like the POWER KNEETM, replaces muscle function that was lost with the amputation. The foot enables amputees to perform activites in a normal and functional pattern by:
- Sensing. Knowing where their foot is in space is a huge safety issue for amputees. Sophisticated sensor technology mimics the body's own neural receptors that are sensitive to mechanical change, providing artificial proprioception (that sense of where the limb is in space). Hence the name PROPRIO FOOTTM.
- Thinking. Patent-pending artificial intelligence (AI) processes information from the sensors and activates the most appropriate response for the next step.
- Acting. The AI transmits a constant stream of signals which instruct high-precision actuator technology to act and deliver optimal function.
"This award recognizes Ossur's singular talent to successfully develop and introduce new technology, formulate a well-designed product family, and make significant product performance contributions to the industry," says Shantayan Panda, Research Analyst, Medical Devices for Frost & Sullivan.
The Frost & Sullivan award comes on the heels of Ossur being named a Technology Pioneer by the World Economic Forum for 2006. Its Bionic Technology prostheses have also received accolades in the press, and prosthetists and users alike have been lavish in their praise of them. In fact, the Department of Defense and the VA are both actively using all of Ossur's Bionic Technology prostheses to benefit servicemen injured in current conflicts, and veterans.
"All this recognition is gratifying," says Eythor Bender, President of Ossur America. "But what drives our highly motivated team is that bionic technology represents a quantum leap forward when it comes to improving the quality of life for amputees."
A look at technologies yet to come for lower limb prosthetics reveals osseointegration, the science of implanting man-made, load bearing anchoring mechanisms directly into the living bone; and neurosensing, when a prosthetic device is connected to the human neurological system enabling the user to regain voluntary control over the prosthesis at a thinking level. "We are determined that the changes in our field will continue to be rapid and positive," says Bender.
The PROPRIO FOOTTM was developed entirely in-house by Ossur's R&D department, with expertise in real-time motion analysis provided by Canadian company, Dynastream. The RHEO KNEETM was co-invented with Hugh Herr, Ph.D., associate professor at MIT and director of the Biomechatronics department at MIT's Media Lab. The POWER KNEETM was co-developed with Victhom Human Bionics, an Ossur partner.
Ossur (Icelandic Stock Exchange: OSSR) is as much about helping people to live a life without limitations as it is about its orthopaedic products. A trusted and global leader in the development, manufacturing, distribution, sales and marketing of bracing and support products and prosthetics, Ossur pioneers award-winning designs – including its Bionic Technology platform – and partners with the health practitioners who use them to deliver successful clinical and business outcomes. Headquartered in Reykjavik, Iceland, the company has operations and a distribution network throughout the world. The company allocates an industry record of 6-8 percent of its revenue on research and development to conceive and harness the most advanced technologies for incorporation in its product designs, and provides extensive education programs through the Ossur Academy. Ossur is a 2006 World Economic Forum Technology Pioneer. Website: www.ossur.com
FROST & SULLIVAN
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.awards.frost.com .
Ossur Global Marketing:
Edda H. Geirsdottir - Director
Tel: + 354 515-1382
Ossur Public Relations:
Missing Sock Public Relations
Office: (310) 399-7599 Cell: (310) 804 3469
Frost & Sullivan:
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