Össur established a new parent organization to be named Embla Medical, which will become the listed company. This change will be formally implemented by changing the name of the Össur hf. entity to Embla Medical hf.
“In our journey to become a global provider of mobility solutions, we have been fortunate to add several individual brands to our portfolio that all greatly benefit from being part of a synergistic organization, servicing patients in need of prosthetics, neuro orthotics, and bracing and supports solutions. The structure of our organization needs to reflect this evolution, and therefore we are establishing Embla Medical as our parent entity.
This structure will enable all our established brands to flourish within their respective markets while harvesting synergies and support from Embla Medical,” said Sveinn Sölvason, president and CEO.
In Norse mythology, Embla was the first woman on earth and references new beginnings, movement, and freedom and further embraces the company’s Nordic heritage.
The name change to Embla Medical will not affect customers doing business with its subsidiaries. Embla Medical will be the parent to product brands Össur, College Park, and Fior & Gentz in addition to the portfolio of patient care facilities around the world.
The proposal is subject to approval at the Annual General Meeting, which will be held on March 13. Össur’s majority shareholder, William Demant Invest A/S, supports the proposal. As soon as possible after the official name change, the trade ticker on Nasdaq Copenhagen will be changed to EMBLA. No other changes will be made to the listing.
