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Warren, Mich., June 4, 2020 — College Park Industries, designer and manufacturer of custom-built prosthetic solutions, is officially acquired by global leader in this field, Össur. As part of this transaction, College Park’s Espire Elbow series has been purchased by Steeper Group.
This acquisition was completed on June 1, 2020 after nearly a year of discussion between the three parties and the Federal Trade Commission. The conclusion will allow Össur, College Park, and Steeper to maximize prosthetic offerings and innovation on a global scale. College Park Industries will remain independent, still providing its award-winning customer service and many quality products.
Bill Carver, President and COO of College Park:
"We are very excited about Össur’s plans to strengthen the College Park brand. While our company stays largely independent, we are thankful to join the Össur organization and continue innovating. We share the same vision of helping amputees live a life without limitations and ensuring superior service to our customers."
Espire Elbow Transition
As part of this new chapter, Steeper Group is committed to building upon the success seen by College Park with the Espire Elbow. An estimated six-month transition phase begins now for the Espire Elbow series. College Park will continue handling all orders, returns, and production for the Espire Elbow through the transition period. Once College Park, Steeper, and the FTC feel that we are ready to complete the transition, Steeper will handle all future orders, services, and returns. Both College Park and Steeper will be contacting customers to explain the acquisition of this product family and provide support to ensure a smooth transition.
College Park, Össur, and Steeper Group are embracing these new changes with hopes to improve prosthetic technology and accessibility for the limb loss community and clinicians everywhere.
About College Park Industries
College Park Industries was incorporated in 1988 upon completion of the first Trustep foot prototype. With headquarters in Warren, MI, College Park’s products are made in the U.S. Today, College Park designs and manufactures a full line of anatomically correct, customizable prosthetic foot systems, upper-limb solutions, endoskeletal components and MetroLiner gel products. College Park creates technology for the human race. Please visit www.college-park.com for more information.
Össur (NASDAQ OMX: OSSR) is a global leader in non-invasive orthopedics that help people live a life without limitations. Its business is focused on improving people's mobility through the delivery of innovative technologies within the fields of Prosthetics and Bracing & Supports. A recognized "Technology Pioneer," Össur invests significantly in research and product development-its award-winning designs ensuring a consistently strong position in the market. Successful patient and clinical outcomes are further empowered via Össur's educational programs and business solutions. Headquartered in Iceland, Össur has major operations in the Americas, Europe and Asia, with additional distributors worldwide. www.ossur.com
About Steeper Group
Steeper is a leading international manufacturer of upper extremity prosthetic products. Founder, Hugh Steeper, was a pioneer in the field, paving the way for innovations that would change the lives of veterans of the Great War. Almost 100 years on, the Steeper name continues to create positive turning points for patients and clinicians in ever more need of prosthetic solutions. Steeper Group's mission is to deliver world-leading technologies and products, alongside responsive clinical services across the fields of prosthetics, orthotics and assistive technology, which fundamentally enhance people's lives. CEO Paul Steeper is the grandson of the company founder. For more information about Steeper Group, please visit www.steepergroup.com