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Ekso Bionics to showcase integrated FES for Indego Therapy at APTA meeting » 08:2202/2302/23/23
Ekso Bionics announced it…
Ekso Bionics announced it will showcase the new Ekso Indego Therapy with Functional Electrical Stimulation, FES, at the upcoming American Physical Therapy Association's, APTA, Combined Sections Meeting on February 23-25 in San Diego, California. The Company recently filed a Premarket Notification 510(k) with the U.S. Food and Drug Administration that covers the addition of integrated FES hardware and software to Ekso Indego Therapy, a lower-limb powered exoskeleton recently acquired by Ekso. "This unique integrated solution is a testament to Ekso Bionics' continued commitment to innovation and delivering on our promise of maximizing patient outcomes," said Scott Davis, Chief Executive Officer of Ekso Bionics. "Individuals with spinal cord injury or stroke who use Ekso Indego Therapy in a rehabilitation setting will soon have the opportunity to benefit from FES in further improving limb function, balance and muscle strength. We are excited to see the added benefits this technology will bring to patients across the continuum of care."
Ekso Bionics announces acquisition of business unit from Parker Hannifin » 08:4012/0512/05/22
Ekso Bionics (EKSO)…
Ekso Bionics (EKSO) announced the acquisition of the Human Motion and Control, HMC, Business Unit from Parker Hannifin Corporation (PH), 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. "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 contribute immediately to our top-line results, improve operating efficiencies 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 Bionics acquired all of Parker's HMC global business assets in the U.S. and Europe for an aggregate purchase price of $10 million. Ekso paid $5 million at closing and delivered a $5 million subordinated, unsecured zero coupon note payable quarterly over four years, commencing December 31, 2023. In connection with the acquisition, Sherman resigned as the Company's Chief Executive Officer, and the Ekso Bionics Board of Directors appointed Davis as Chief Executive Officer, each effective immediately. Davis has served as the Company's President and Chief Operating Officer since January 2022. Sherman will continue to serve as Chairman of the Board and will begin serving as Executive Chair of the Company.
Ekso Bionics reports Q3 EPS (33c), consensus (24c) » 16:1411/0311/03/22
Reports Q3 revenue $3.3M,…
Reports Q3 revenue $3.3M, consensus $ 3.58M.
Ekso Bionics price target lowered to $9 from $11 at H.C. Wainwright » 06:0807/2907/29/22
H.C. Wainwright analyst…
H.C. Wainwright analyst Swayampakula Ramakanth lowered the firm's price target on Ekso Bionics to $9 from $11 and keeps a Buy rating on the shares post the Q2 results.
Ekso Bionics receives FDA clearance to market its EksoNR Robotic Exoskeleton » 08:0206/1306/13/22
Ekso Bionics announced it…
Ekso Bionics announced it has received 510(k) clearance from the U.S. Food and Drug Administration, FDA, to market its EksoNR robotic exoskeleton for use with Multiple Sclerosis, MS, patients. EksoNR is the first exoskeleton device to receive FDA clearance for rehabilitation use in patients with MS, an indication which significantly expands the device's use to a broader group of patients. "As a leader in early-to-market wearable robotic solutions for medical rehabilitation, we are committed to maximizing patient access to our technology," said Steven Sherman, Chairman and Chief Executive Officer of Ekso Bionics. "With the indications for use now expanded to include MS, the EksoNR has the potential to assist significantly more patients and improve patient mobility. We are excited to see the device benefit MS patients, providing critically needed rehabilitation solutions just as it has for patients suffering from stroke, spinal cord injury and acquired brain injury." In addition to its FDA clearances, EksoNR is CE-marked and available in Europe. Used by more than 375 rehabilitation centers globally, Ekso devices have helped patients take nearly 200 million steps, while supporting patients' hopes of mobility and independence.