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Touch Bionics win hot investment award from Frost & Sullivan

Livingston, Scotland: Touch Bionics, developer of the world's first multi-articulating bionic hand, today announced it has won a 2009 European Bionic Limbs Hot Investment Opportunity Award from global analyst firm, Frost & Sullivan.

The company was noted for its innovation and leadership in creating and launching the i-LIMB Hand in 2007, the world's first commercially available multi-articulating bionic hand, with five independently powered digits, and for its 2008 acquisition of LIVINGSKIN , a developer of unique and lifelike prosthetic skin. Also of significance was Touch Bionics' progress in other areas of upper limb prosthetics, including partial hand solutions in the development stage.

In particular, the award recognised the Touch Bionics' market penetration and market share growth in existing market segments, supported by the company's direct operations in North America and sales to over 40 other countries. The company's business model and go-to-market strategy was also lauded for its success in establishing relationships with the major participants in the market place.

Financial performance was a key factor, as Touch Bionics achieved phenomenal growth in its revenues in its first two years of operation. The company has maintained over 100.0 percent growth in 2008-2009.

In addition, the award noted that 60% of clinicians have placed repeat orders for the i-LIMB Hand and that exports constitute nearly 95% of Touch Bionics sales to date, which indicates the stability of the company's customer relationships and exports.

"We are delighted by Frost & Sullivan's recognition of our successes in altering the prosthetics market landscape," said Stuart Mead, Touch Bionics' CEO. "It further validates our dedicated efforts aimed at creating new prosthetics standards through the building of technology leadership. This award will further encourage our ambitious business model for continued growth."

About Touch Bionics

Touch Bionics is a leading developer of advanced upper-limb prosthetics. In 2007, Touch Bionics brought to market the i-LIMB Hand, a first-to-market prosthetic device with five individually powered digits. The company continues to develop leading-edge technologies for the treatment of patients with upper-limb deficiencies. For more information, visit www.touchbionics.com

Touch Bionics media contact:

  • Danny Sullivan
  • inmedia Public Relations Inc.
  • Tel (UK): +44 (0) 141 404 6478
  • Email: [email protected]

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