Ossur's Power Knee™ wins Popular Science magazine's 2005 Best of What's New Award
November 8, 2005 (Reykjavik, Iceland) – Ossur, a trusted and leading global supplier of prosthetic and orthopedic devices, takes pleasure in announcing that its POWER KNEE, the first powered prosthesis for lower limb amputees -- and the next step in bionic technology -- has been honored by Popular Science magazine with a 2005 Best of What's New Award in the Personal Health category.
"Best of What's New is the ultimate Popular Science accolade, representing a year's worth of work evaluating thousands of products," says Mark Jannot, editor of Popular Science. "These awards honor innovations that not only influence the way we live today, but that change the way we think about the future."
Each year, Popular Science reviews thousands of new products and innovations and chooses only 100 winners for 10 different categories. Among the judging criteria are: the significance of the innovation; the quality of the design and the finished product; the originality of thought; and the ambition and scope of the project. The winners -- the Best of What's New -- are awarded inclusion in the much-anticipated December issue of Popular Science, the most widely read issue of the year since the debut of Best of What's New in 1987.
In addition to being the first powered prosthesis for lower limb amputees, the POWER KNEE is artificially intelligent. It predicts and responds to changes in terrain and incline, and restores gait dynamics, thereby allowing its user to cover greater distances while using less energy. The POWER KNEE replaces true muscle activity, effectively bending and straightening the leg at the knee. Importantly and for the first time, amputees will be able to ascend stairs and ramps foot-over-foot and facing forward.
"Given Ossur's annual investment in research and development of approximately 6 - 8% of its revenue, it is especially gratifying to be singled out on the basis of innovation," said Hilmar Janusson, vice president of R&D of Ossur. The return on that investment will be realized in a technology platform we refer to as Bionic Technology by Ossur – a full range of products for both the prosthetic and orthopedic markets. The objectives are simple yet lofty: remove the physical limitations caused by a patient's disability; remove the morbidity inherent in some conventional designs; and make the technology available to a wider group of patients."
In order to bring the POWER KNEE to market, Ossur has partnered with Victhom Human Bionics, Inc., and the POWER KNEE's inventor, Stephane Bedard, founder, executive vice-president and COO of Victhom, with the goal of jointly pioneering products that will genuinely enhance the quality of life for people with physical disabilities. Victhom develops technological platforms, and Ossur researches and ensures that those platforms not only meet the medical needs of amputees but also enable them to achieve unprecedented functionality, by implementing its clinical expertise and market know-how. It is expected that the POWER KNEE will be market-ready in 2006.
Starting today through November 10, 2005 and for three consecutive days, Popular Science is taking over Vanderbilt Hall in New York's Grand Central Terminal to showcase many of this year's Best of What's New winning products and technologies. The event will be free and open to the pubic. Vanderbilt Hall will be transformed into a fun and interactive space where consumers will be able to meet a POWER KNEE user, as well as a POWER KNEE specialist who is able to answer all questions regarding this remarkable invention.
About Popular Science
Founded in 1872, Popular Science is the world's largest science and technology magazine; with a circulation of 1.45 million and 6.5 million monthly readers. Each month, Popular Science reports on the intersection of science and everyday life, with an eye toward what's new and why it matters. Popular Science is published by Time4 Media, a subsidiary of Time Inc., which is a wholly owned subsidiary of Time Warner Inc. Website: www.popsi.com.
Ossur (Icelandic Stock Exchange: OSSR) is a trusted and global leader in the development, manufacturing, distribution, sales and marketing of high technology prosthetic and orthopedic devices. With its head office in Reykjavik, Iceland, the company's U.S. sales and marketing headquarters are located in Aliso Viejo, California; the Canadian office in Vancouver, BC; the Nordic office in Uppsala, Sweden; and the European office in Eindhoven, Holland. The company has a considerable distribution network in other markets and over 900 employees worldwide. Given its mission to offer people a life without limitations, Ossur allocates an industry record of approximately eight percent of its revenue on medical technology research and development, and provides extensive education programs through the Ossur Academy. The company also sponsors a variety of community outreach programs and non-profit organizations. Website: www.ossur.com.