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Touch Bionics hits £10 million for 2012

Touch Bionics today announced that preliminary results for the last year indicate that the company achieved revenue growth of 17% in 2012 to break the £10 million ($16 million) revenue mark for the first time in its history.

The company's growth was driven by the company's expansion of its product lines, with the launch of the i-limb ultra prosthetic hand in 2011 and the introduction of an upgraded version of its i-limb digits solution for people with missing fingers in 2012.

"We are pleased with our performance in 2012 and are looking forward to continuing our growth in 2013, when we plan to announce further exciting product developments," said Ian Stevens, CEO of Touch Bionics. "The addition of new manufacturing facilities and expansion of our training capabilities mean that we are ideally positioned to reach new levels in the year ahead."

This week, the company opened a new production facility in Newburgh, New York. The new offices are now the primary location for the production of livingskin, the company's range of highly realistic silicone prostheses.

The 4,000 sq. ft. open plan facility is located at 610 Broadway in Newburgh, creating an environment that enhances manufacturing flow and provides increased production flexibility. The new centre will support and expand on Touch Bionics' existing livingskin operations at 606 Broadway, more than doubling the size of the company's overall workspace in Newburgh.

"As global demand for our livingskin prostheses has been increasing, we needed to ensure that our production capacity is able to scale to meet that demand," said Stevens. "This new facility will increase our production capacity significantly, while also ensuring that we retain our existing team of livingskin experts in Newburgh."

About Touch Bionics

Touch Bionics is a provider of world-leading prosthetic technologies designed to achieve positive outcomes for people with upper limb deficiencies. Touch Bionics was the first company to develop an electrically powered prosthetic hand with five independently powered fingers and the company continues to be a pioneer in upper limb prosthetic solutions. The company's products include electronic prosthetic hand and prosthetic finger solutions, as well as passive silicone prostheses that closely match the natural appearance of the wearer.

A spin-out from the UK's National Health Service, Touch Bionics was founded by inventor David Gow and is funded and supported by Archangel Informal Investment and Scottish Enterprise.