BIONIK Laboratories Announces the Sale & Installation of a New InMotion® ARM/HAND Robotic Device to Tampa General Hospital for its Rehabilitation Center

Rhea-AI Summary

BIONIK Laboratories (OTC-PINK: BNKL) is expanding its reach through the Kindred Healthcare network, with a recent installation of the InMotion® ARM/HAND Interactive Therapy System at Tampa General Hospital. This partnership aims to enhance rehabilitation for stroke and brain injury patients. The InMotion® systems, now in over 15 countries, have shown patient improvements of 15-20% in motor control during therapy. The number of hospitals using InMotion® devices has tripled since 2019, supporting more than 250 patients monthly, significantly increasing BIONIK's visibility in the rehabilitation sector.

Positive

• Partnership with Tampa General Hospital to enhance rehabilitation services.
• Sales of InMotion® systems have expanded to over 15 countries.
• Patient outcomes show 15-20% improvement in motor function within 14 days.
• Number of facilities using InMotion® has tripled since 2019.

Negative

• None.

BIONIK continues to expand its installed base through Kindred Healthcare’s network of hospitals nationwide

BOSTON--(BUSINESS WIRE)-- BIONIK Laboratories Corp. (OTCQB: BNKL) ("BIONIK" or the "Company"), a robotics company focused on providing rehabilitation and assistive technology solutions to stroke survivors and others with neurological and mobility challenges from hospital to home, announced today that Tampa General Hospital (TGH), a part of the Kindred Healthcare network, has purchased and recently installed an InMotion® ARM/HAND Interactive Therapy System at its Rehabilitation Hospital as part of its missions to offer customized, intense rehabilitation tailored to the individual needs of those recovering from stroke, brain injury, neurological conditions, and more.

InMotion® robotic systems have been sold in more than 15 countries to help stroke survivors and those with other neurological conditions to regain arm and hand movement by training shoulder protraction/retraction, flexion/extension, abduction/adduction, internal/external rotation, elbow flexion/extension and hand grasp/release. In the recent patient outcomes data report from BIONIK, Using IoT Data to Quantify InMotion® Therapy Gains on Upper Extremity Motor Impairments, patients utilizing its robotic devices measured upwards of 15-20% improvement in their ability to move more smoothly, with intention, and in a controlled manner over a 14-day time-frame.

InMotion® robotic therapy guides the patient through specific tasks, aiming to improve motor control of the arm and hand by increasing strength, range of motion and coordination, and assisting with the provision of efficient, effective, intensive sensorimotor therapy. TGH Rehabilitation Hospital is the most recent facility to purchase InMotion® Therapy to bring the robotic technology to its patients from the Gulf Coast region of Florida.

“The InMotion device will provide TGH’s clinicians with an invaluable technology that will offer each of their patients effective and efficient therapy sessions, allowing them to track upwards of 1,000 movements per session,” said Richard Russo, Jr., interim CEO and Chief Financial Officer of BIONIK. “We are thrilled to be working with Tampa General Hospital as we continue to expand our presence with the Kindred network to reach more patients.”

The number of hospitals and rehabilitation centers in the U.S. utilizing an InMotion® robotic device has increased three-fold since 2019. Through BIONIK’s partnership with Kindred hospitals across the country, who use InMotion® robotic devices within their Inpatient Rehabilitation Facilities, more than 250 patients utilize the assistive robotic devices each month.

​​About BIONIK Laboratories Corp.

BIONIK Laboratories is a robotics company focused on providing rehabilitation and mobility solutions to individuals with neurological and mobility challenges from hospital to home. The Company has a portfolio of products focused on upper and lower extremity rehabilitation for stroke and other mobility-impaired patients, including three products on the market and three products in varying stages of development. For more information, please visit www.BIONIKlabs.com and connect with us on Twitter, LinkedIn, and Facebook.

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may," "should," "would," "will," "could," "scheduled," "expect," "anticipate," "estimate," "believe," "intend," "seek," or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of robotic rehabilitation products, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, pipeline of potential sales, capital structure or other financial items, (iii) the Company's future financial performance, (iv) the market and projected market for our existing and planned products and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances, and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions, and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain additional financing or increase revenue, the inability to meet listing standards to uplist to a national stock exchange, the significant length of time and resources associated with the development and sale of our products and related insufficient cash flows and resulting illiquidity, the continued impact on the Company’s business as a result of the Covid-19 pandemic, the Company's inability to expand the Company's business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, volatility in the price of the Company's raw materials, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC. The Company does not undertake to update these forward-looking statements.

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Media:

Ashley Willis

FischTank PR

Ashley@fischtankpr.com

Investor Relations:

Stephanie Prince

PCG Advisory

sprince@pcgadvisory.com

646.863.6341

Source: BIONIK Laboratories Corp.

FAQ

What is the significance of BIONIK's partnership with Tampa General Hospital?

BIONIK's partnership with Tampa General Hospital allows for advanced rehabilitation services using their InMotion® system, enhancing patient recovery outcomes.

How has the use of InMotion® systems impacted patient rehabilitation?

InMotion® systems have led to a 15-20% improvement in motor function for patients recovering from neurological conditions over a 14-day period.

What is the current reach of BIONIK's robotic systems?

BIONIK's InMotion® systems are now installed in more than 15 countries and are significantly utilized across hospitals in the U.S.

How many patients benefit from BIONIK's technology monthly?

Through partnerships, over 250 patients utilize InMotion® assistive devices each month.

How has the market for InMotion® devices changed since 2019?

The number of hospitals using InMotion® devices has tripled since 2019, indicating a growing demand for robotic rehabilitation solutions.