Ossur Product Recall
BY HUYEN NGUYEN, APRIL 4, 2006
Last week Ossur announced product recall on one of its prosthetic knee lines. The Total Knee® 1100, 1900, 2000 and 2100 models were being recalled due to some faulty pins that were fixated at the axis of the knee. The Company commented that even though to date they have not received any reported cases of injuries, they decided to recall and suspend future sales of these products until futher notice.
The Total Knee® is one of Ossur's most popular brand of knee prosthetics. Its wide range of designs extend from children (Total Knee® 1100) to active lifestyle adults (Total Knee® 2100).
In 2005 the Company was very busy and acquired four prosthetic and bracing companies; those included Royce Medical and Innovative Medical Products Holdings, Ltd. to name a few. The combined annual sales of the acquired companies is approximately over $100 million. In February, the Company announced its FY:05 financial reports with sales growing 29% ($161 million vs. $124 million) year-over-year. Although the Company did not provide a breakdown for its Total Knee® product, prosthetics sales alone was $104 million or an increase of 13% as compared to FY:04.
