Touch Bionics Acquires LIVINGSKIN, Hires Sales and Marketing Executive

Touch Bionics, Livingston, Scotland, announced that it has acquired the complete operations of LIVINGSKIN, Newburgh, New York. According to Touch Bionics, the acquisition will allow the company to fulfill growing customer demand from across the world, while applying its commercial and technical expertise into new cosmesis solutions for multi-articulating hands and digits.

Touch Bionics said the acquisition of LIVINGSKIN's operations (Aesthetic Concerns Prosthetics Inc.) provides the company with an established physical presence in North America from which to build on the rapid growth that it has already experienced in the region. "In the U.S. alone, more than 180 patients have already been fitted with the i-LIMB Hand," Touch Bionics said.

Prosthetic and Orthotic Associates, the clinical company previously associated with LIVINGSKIN, is not included in the acquisition and continues to operate independently of the newly combined business.

"This acquisition is hugely significant for Touch Bionics as we are acquiring further technical and competitive advantage in the prosthetics market," said Stuart Mead, Touch Bionics CEO. "LIVINGKSIN provides the world's most advanced cosmesis for upper-limb prosthetics, and the i-LIMB Hand is the world's most advanced upper-limb device. It's a perfect match. The acquisition of LIVINGSKIN provides us with the people, skills, and facilities to secure and grow our U.S. operations and global cosmesis supply."

Touch Bionics said its U.S. facility will house production, technical support, inventory, and administration to directly support its North American customers.

"We have been working in close partnership with Touch Bionics for some time now, and the acquisition is a natural progression of that partnership," said Tom Passero, CP, LIVINGSKIN president. "As part of Touch Bionics, our future is both secure and exciting. We are committed to maintaining the same level of top-quality service to our customers and partners across the world while working with the Touch Bionics team to innovate cosmesis options for users."

Passero said he will become the director of clinical services at Touch Bionics and will be working with a team to develop outcomes standards. "This gives me the opportunity to really get into some breakthrough clinical work," Passero said. "This is a great synergy--a great deal. It's very exciting for me personally."

From an operational standpoint, Mead said LIVINGSKIN will conduct "business as usual." Passero added, "LIVINGSKIN will go on in exactly the same way with exactly the same people. LIVINGSKIN employees feel the rush of something really dynamic happening. There's a lot of enthusiasm on the LIVINGSKIN side."

To finance the deal and provide further U.S. expansion funding, Touch Bionics raised additional capital through existing investors, Archangel Informal Investment, TriCap, and Scottish Enterprise's Co-investment Fund.

"Touch Bionics is one of the most exciting technology companies to emerge from the UK in recent years, and we are delighted to support its growth," said John Waddell, chief executive of Archangel. "The acquisition of a leading U.S. development company in order to grow a vital area of Touch Bionics' business and firmly establish its U.S. presence reflects the success and confidence that permeates the company."

Mark Ford Joins Management Team

Touch Bionics said it has seen a 10-fold increase in headcount over the last year. Included in that is the announcement that the company has hired Mark Ford, formerly a director of OMEGA Tracer, a division of Ohio Willow Wood, Mt. Sterling, Ohio, to run Touch Bionics' U.S. sales and marketing operations.

"Mark is a great addition to our senior management team, and his U.S. market experience will help us greatly in securing wider relationships with the North American O&P community," Mead said. "Our growth has been phenomenal, and Mark's expertise will prove invaluable as our company matures and expands."