Broadens Ekso Bionics’ product portfolio into home use
Adds
Acquisition consolidates leading lower extremity robotic companies
Ekso President and COO
This complementary acquisition expands Ekso’s product offering across the continuum of care to home and community use markets, grows Ekso’s product pipeline and adds strategic relationships with key commercial and research partners, including
“The strategic acquisition of Parker’s uniquely-powered and adjustable Indego exoskeletons significantly builds our product offering and extends our market opportunity to the home,” said
Parker’s devices are FDA-cleared lower-limb powered exoskeletons that enable task-specific, overground gait training to patients with weakness or paralysis in their lower extremities. Products include Indego Personal, a light-weight exoskeleton for safe use in most home and community environments, and Indego Therapy, an adjustable exoskeleton for patients with spinal cord injury and stroke complementing Ekso’s product offering in outpatient facilities.
“Indego is one of the most advanced and broadest range of powered and intelligent devices for home use, which represents a strategic fit for Ekso,” said
The combined companies have made significant investments into developing world-class technology and distribution with devices deployed in over 400 institutions used by thousands of patients worldwide. Highlighted by a product commercialization strategy with
“We are pleased to have finalized an agreement with
Ekso Bionics Leadership Transition
In connection with the acquisition,
“I am proud of our recent accomplishments to position Ekso for long-term growth, culminating with today’s important acquisition,” said
About
Ekso Bionics® is a leading developer of exoskeleton solutions that amplify human potential by supporting or enhancing strength, endurance and mobility across medical and industrial applications. Founded in 2005, the Company continues to build upon its industry-leading expertise to design some of the most cutting-edge, innovative wearable robots available on the market.
About Indego
With dedicated therapy and personal use exoskeletons, Indego provides solutions that address the complete continuum of care – from acute rehabilitation to home and community ambulation. Indego Therapy is cleared by the FDA for use with spinal cord injury patients with injury levels C7 to L5, and for individuals with hemiplegia (with motor function of 4/5 in at least one upper extremity) due to cerebrovascular accident (CVA) to perform ambulatory functions in rehabilitation institutions. Indego Personal is cleared by the FDA to enable individuals with spinal cord injury at levels T3 to L5 to perform ambulatory functions in their home and community. Indego Therapy and Indego Personal are also commercially available in
Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding the plans, objectives and expectations of management with respect to the Company’s industry, growth and strategy, the expected benefits of this acquisition, potential technological and operational improvements, the Company’s growth prospects, and the assumptions underlying or relating to the foregoing. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain adequate financing to fund and grow the Company's operations and necessary to develop or enhance the Company’s technology, the significant length of time and resources associated with the development of the Company's products, the Company's failure to achieve broad market acceptance of the Company's products, the failure of the Company’s sales and marketing efforts or of partners to market the Company’s products effectively, adverse results in future clinical studies of the Company's medical device products, the failure of the Company to obtain or maintain patent protection for the Company's technology, the failure of the Company to obtain or maintain regulatory approval to market the Company's medical devices, lack of product diversification, existing or increased competition, disruptions in the Company’s supply chain due to the outbreak of the COVID-19 virus and the emergence of new, more infectious variants, the Company’s ability to successfully integrate the acquired business and its personnel, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the
Contacts:
Investors:
212-867-1768
investors@eksobionics.com
Media:
917-497-2867
Erich.Sandoval@finnpartners.com
Source:
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