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Ekso Bionics Holdings has bought the Indego exoskeleton line and the remainder of Parker Hannifin’s Human Motion and Control (HMC) enterprise unit. The $10 million deal consists of the deliberate growth of robotic-assisted orthotic and prosthetic units, the businesses mentioned.
“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,” Ekso Bionics govt chair Steven Sherman mentioned. “With the addition of HMC, we intend to grow our global footprint and increase our market position in lower extremity robotic products driven by our shared innovations and leading-edge technologies.”
The FDA cleared the Indego lower-limb exoskeleton programs for scientific and private use in 2016. Indego Therapy is cleared for the rehabilitation of sufferers with spinal twine accidents or hemiplegia (one-sided paralysis) from strokes. Indego Personal is cleared to assist spinal twine damage sufferers transfer about their houses and communities.
The Indego Therapy and Indego Personal exoskeletons are additionally CE marked.
“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,” Ekso Bionics CEO Scott Davis mentioned. “This acquisition is expected to contribute immediately to our top-line results and establish Ekso as a leader in lower extremity robotics. Moving forward, we plan to continue exploring future growth opportunities that align with our strategy.”
Ekso’s new companion for exoskeleton growth
The acquisition additionally hyperlinks Ekso and Vanderbilt University, the place researchers created the Indego exoskeleton and labored with Parker to commercialize it. Ekso mentioned it expects the Vanderbilt collaboration will “provide a path for future research and product development.”
Founded in 2005, San Rafael, California-based Ekso describes itself as the one exoskeleton firm with merchandise that assist paralyzed individuals stand and stroll, in addition to help staff of their jobs. The firm’s EksoNR robotic exoskeleton gained FDA clearance to be used with a number of sclerosis sufferers earlier this yr.
“We are pleased to have finalized an agreement with Ekso Bionics as a strategic buyer for our Human Motion and Control business,” Parker chief expertise and innovation officer Mark Czaja mentioned in a press release. “This is a great technology with an outstanding team that has built a highly differentiated product offering to help improve gait performance and outcomes for people living with mobility impairments. The acquisition will allow Ekso to leverage their robust commercial and clinical teams to ultimately enable this important technology to reach more patients in need across the continuum of care.”
Editor’s Note: This article was first printed by The Robot Report’s sister publication Medical Design & Outsourcing and was republished with permission.