Business
Ekso Bionics Announces Acquisition of Human Motion and Control Business Unit Including Indego® Product Line From Parker Hannifin Corporation
Broadens Ekso Bionics’ product portfolio into home use Adds Vanderbilt University as a key commercial and research partner Acquisition consolidates leading
About this update from Ekso Bionics Holdings, Inc.
[{"type":"text","content":"Broadens Ekso Bionics’ product portfolio into home use Adds Vanderbilt University as a key commercial and research partner Acquisition consolidates leading lower extremity robotic companies Ekso President and COO Scott Davis promoted to Chief Executive Officer; Steven Sherman to remain Chairman, appointed Executive Chair SAN RAFAEL, Calif., Dec. 05, 2022 (GLOBE NEWSWIRE) -- Ekso Bionics (Nasdaq: EKSO) (the “Company”), an industry leader in exoskeleton technology for medical and industrial use, today announced the acquisition of the Human Motion and Control (“HMC”) Business Unit from Parker Hannifin Corporation (“Parker”), a global leader in motion and control technologies. The acquisition includes the Indego lower limb exoskeleton line of products as well as the planned development of robotic assisted orthotic and prosthetic devices. 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 Vanderbilt University. The collaboration with Vanderbilt is expected to provide a path for future research and product development. “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 Steven Sherman, Chairman and Executive Chair of Ekso Bionics. “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.” 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 Scott Davis, Chief Executive Officer of Ekso Bionics. “This acquisition is expected to con...