Touch Bionics acquires Livingskin
18 May 2008
Scottish company Touch Bionics, developer of the i-Limb bionic hand,
has acquired Livingskin the developer of the lifelike prosthetic skin
that Touch Bionics supplies with its ground-breaking product.
Livingskin’s products resemble human skin by simulating the three
dermal layers of natural human skin. The company already supplies many
of the world’s leading clinics with its high-definition custom cosmesis
covering and silicone restoration products, and will continue to do so.
The acquisition will allow Touch Bionics to fulfil growing customer
demand, while applying its commercial and technical expertise into new
cosmesis solutions for multi-articulating hands and digits.
In addition, the acquisition provides Touch Bionics 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
US alone, over 180 patients have already been fitted with the i-Limb
Hand. Touch Bionics’ US facility will house, production, technical
support, inventory and administration to directly support its growing
North American customer base.
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. "Livingskin 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 US operations and global cosmesis
"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, 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."
To finance the deal and provide further US expansion funding, Touch
Bionics raised additional capital through existing investors, Archangel
Informal Investment, TriCap and Scottish Enterprise’s Co-investment
Touch Bionics has seen a 10-fold increase in staff over the last year
and has now hired Mark Ford, formerly a director of Omega Tracer, a
division of Ohio Willow Wood, to run Touch Bionics’ US sales and
"Mark is a great addition to our senior management team and his US
market experience will help us greatly in securing wider relationships
with the North American O&P community," said Stuart Mead. "Our growth
has been phenomenal and Mark’s expertise will prove invaluable as our
company matures and expands."