Embla Medical signed an agreement to invest in a majority share (51 percent) in privately owned Streifeneder ortho.production. Streifeneder ortho.production is part of Streifeneder KG (Group), a supplier of orthopedic solutions and operator of an O&P clinic network in Bayern, Germany.
In addition to its offerings of O&P components, Streifeneder also supplies orthopedic materials and equipment to the O&P industry. The investment will strengthen Embla Medical’s presence in Germany, the second-largest O&P market in the world.
In 2024, Streifeneder, which employs about 100 people, had sales of EUR 25 million (approximately USD $29 million) with about 70 percent of sales related to prosthetics and orthopedic materials. Most sales were generated in Germany, while also selling into other key European markets and distributing into the Americas and Asia-Pacific regions.
Streifeneder is estimated to grow in line with the global prosthetics market in the range of 5-7 percent in the near-term, in addition to realizing commercial synergies by leveraging Embla Medical/Össur’s global footprint.
The closing of the transaction is subject to regulatory approvals.
“The investment in Streifeneder is a strong strategic fit with our Growth’27 strategy and will enable Embla Medical to reach more patients with a broader product offering,” said Sveinn Sölvason, president and CEO of Embla Medical. “The addition of Streifeneder will position us as a full-range solutions provider with opportunities to strengthen our presence in our key markets and expand our reach in emerging markets. We are excited to welcome the Streifeneder team to the Embla Medical family, and we are convinced that our combined efforts will benefit our customers and patients around the world.”
In connection with the investment and when closing conditions are met, the board of directors of Embla Medical will issue 2,805,135 new shares in Embla Medical, raising the total share capital in nominal value by 0.7 percent. The price of each new share is Danish Krone (DKK) 33.26, and the total value of the share capital increase is DKK 93 million (approximately USD $14.45 million).
“By joining forces with Embla Medical, we have found the ideal partner for Streifeneder,” said Friedrich Streifeneder, managing director of Streifeneder ortho.production. “Combining the two businesses will secure a leading position in the O&P market with a strong value offering. The combination of the Össur and Streifeneder brands will position Embla Medical for an exciting future within the industry enabling an even greater customer experience.”
