$10 million acquisition!Exoskeleton robots accelerate into the home field

recently,the medicaland Industrial exoskeleton technology company Ekso Bionics (Nasdaq: Ekso) announced the acquisition of the Human Motion and Control (“HMC”) business unit from Parker Hannifin Corporation (“Parker”), a leader in motion and control technology.The acquisition includes the company’s Indego line of lower extremity exoskeletons, as well as the planned development ofrobotAssistive orthotic and prosthetic devices.

The total acquisition price is US$10 million, including Parker’s HMC global business assets in the United States and Europe. Ekso paid $5 million at closing and delivered $5 million of subordinated unsecured zero-coupon notes – payable quarterly commencing December 31, 2023.

This complementary acquisition expands Ekso’s product offering in the home and community care markets, expands Ekto’s product line, and adds strategic relationships with key commercial and research partners, including Vanderbilt University. The collaboration with Vanderbilt promises to provide a path for future research and product development.

Parker’s device is an FDA-approved powered lower-limb exoskeleton that provides task-specific hypergait training for patients with lower-limb weakness or paralysis. It mainly includes two types:

Indego Personal, a lightweight exoskeleton safe for use in most home and community settings;

Indego Therapy, an adjustable exoskeleton for spinal cord injury and stroke patients, complements Ekso’s offerings in outpatient facilities.

“Indego is one of the most advanced and broadest ranges of home power and smart devices and is a strategic choice for Ekso,” said Scott Davis, CEO of Ekso Bionics. “This acquisition is expected to be an immediate Contribute to our performance, improve operational efficiency, and position Ekso as a leader in lower extremity robotics. Going forward, we plan to continue exploring future growth opportunities that align with our strategy.”

The combined company has deployed devices in more than 400 institutions around the world, serving thousands of patients. The acquisition of HMC brings Ekso an elite academic partner, Vanderbilt University, which previously helped drive new product development for a decade.

Ekso Bionics® is a leader in exoskeleton solutions, providing technologies ranging from helping the paralyzed to stand and walk, to enhancing human capabilities in workplaces around the world. The company is headquartered in the San Francisco Bay Area and listed on the NASDAQ capital market under the stock code “EKSO”.

With specialized therapeutic and personal use exoskeletons, Indego offers solutions for the entire continuum of care, from acute rehabilitation to home and community walking. Indego Therapy is FDA-approved for use in patients with spinal cord injuries ranging from injury classes C7 to L5, and in patients with hemiplegia (4/5 motor function in at least one upper extremity) due to cerebrovascular accident (CVA) to perform ambulation in rehabilitation facilities Features. Indego Personal received FDA clearance to enable functional ambulation in the home and community for patients with T3 to L5 spinal cord injuries. In November 2015, Indego Therapy and Indego Personal received CE marking and are also available in Europe.