Innothera to acquire Gibaud from Össur for $24m.

Innothera, a French global provider and manufacturer of pharmaceuticals, medical textiles, and smart health textiles, is set to acquire Gibaud, which designs and manufactures orthopedic products, from Össur, a provider of non-invasive orthopaedics, for $24m. "Gibaud is an important part of our global B&S business and has supported our efforts to build a platform within the O&P channel in France, where our market share is strong in prosthetics. With the potential divestment of Gibaud, Össur’s sales in France would primarily go through the O&P channel which is our primary sales channel in Europe. The potential divestment would therefore allow us to focus our efforts in France and strengthen our position within the O&P market. We believe Innothera will be in a strong position to support Gibaud in its future growth," Jon Sigurdsson, Össur President and CEO.