Ekso Bionics buys Parker Hannifin’s exoskeleton enterprise for $10M

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Ekso Bionics Holdings has bought the Indego exoskeleton line and the remainder of Parker Hannifin’s Human Movement and Management (HMC) enterprise unit. The $10 million deal contains the deliberate improvement of robotic-assisted orthotic and prosthetic gadgets, the businesses stated.

“The strategic acquisition of Parker’s uniquely-powered and adjustable Indego exoskeletons considerably builds our product providing and extends our market alternative to the house,” Ekso Bionics government chair Steven Sherman stated. “With the addition of HMC, we intend to develop our world footprint and enhance our market place in decrease extremity robotic merchandise pushed by our shared improvements and modern applied sciences.”

The FDA cleared the Indego lower-limb exoskeleton methods for scientific and private use in 2016. Indego Remedy is cleared for the rehabilitation of sufferers with spinal wire accidents or hemiplegia (one-sided paralysis) from strokes. Indego Private is cleared to assist spinal wire damage sufferers transfer about their houses and communities.

The Indego Remedy and Indego Private exoskeletons are additionally CE marked.

“Indego is likely one of the most superior and broadest vary of powered and clever gadgets for dwelling use, which represents a strategic match for Ekso,” Ekso Bionics CEO Scott Davis stated. “This acquisition is anticipated to contribute instantly to our top-line outcomes and set up Ekso as a pacesetter in decrease extremity robotics. Transferring ahead, we plan to proceed exploring future development alternatives that align with our technique.”

Ekso’s new associate for exoskeleton improvement

The acquisition additionally hyperlinks Ekso and Vanderbilt College, the place researchers created the Indego exoskeleton and labored with Parker to commercialize it. Ekso stated it expects the Vanderbilt collaboration will “present a path for future analysis and product improvement.”

Based 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 employees of their jobs. The corporate’s EksoNR robotic exoskeleton gained FDA clearance to be used with a number of sclerosis sufferers earlier this yr.

“We’re happy to have finalized an settlement with Ekso Bionics as a strategic purchaser for our Human Movement and Management enterprise,” Parker chief know-how and innovation officer Mark Czaja stated in an announcement. “It is a nice know-how with an excellent staff that has constructed a extremely differentiated product providing to assist enhance gait efficiency and outcomes for individuals residing with mobility impairments. The acquisition will enable Ekso to leverage their strong industrial and scientific groups to in the end allow this vital know-how to succeed in extra sufferers in want throughout the continuum of care.”

Editor’s Be aware: This text was first revealed by The Robotic Report’s sister publication Medical Design & Outsourcing and was republished with permission.