Ekso Bionics Announces Research Partnership with Shepherd Center
Ekso Bionics has announced a research partnership with Shepherd Center, a leading rehabilitation hospital in Atlanta. The collaboration aims to integrate EksoNR and Ekso Indego devices into rehabilitation and community settings to enhance patient quality of life. Ekso and Shepherd Center will co-develop a research and training program for these devices, focusing on best practices for their clinical and individual use. This initiative follows the Centers for Medicare & Medicaid Services' recent decision to provide reimbursement for the Ekso Indego Personal device, increasing accessibility for spinal cord injury patients. Shepherd Center's expertise in spinal cord injuries will play a key role in evaluating the benefits of exoskeleton technology throughout the care continuum.
- Research partnership with Shepherd Center to integrate EksoNR and Ekso Indego devices.
- Collaboration with a renowned rehabilitation hospital enhances credibility.
- Focus on improving patient quality of life using exoskeleton technology.
- Development of a research and training program for clinical and individual use of Ekso devices.
- Centers for Medicare & Medicaid Services' decision to provide reimbursement for Ekso Indego Personal device increases accessibility.
- Shepherd Center’s expertise in spinal cord injury care provides valuable clinical insights.
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The partnership between Ekso Bionics and the Shepherd Center is poised to enhance the understanding and application of exoskeleton technology in clinical settings. Shepherd Center’s expertise in spinal cord injuries and complex medical conditions positions it as an ideal partner to evaluate the effectiveness of Ekso’s devices. The potential to gather empirical data on patient outcomes and rehabilitation efficacy could lead to broader acceptance and usage of these technologies in mainstream medical practice.
The collaboration is likely to bring substantial benefits to patients, including improved mobility and enhanced quality of life. Incorporating these devices into daily routines via a structured training program can help individuals gain independence. The recent decision by the Centers for Medicare & Medicaid Services to provide a reimbursement rate for the Ekso Indego Personal device further strengthens the financial viability of this technology, potentially increasing its adoption among patients and care providers.
In the short term, the announcement might not have an immediate significant impact on Ekso Bionics' stock, but long-term implications could be positive as clinical validation and broader acceptance of their technology are established. Investors should monitor subsequent updates on clinical results and potential new partnerships.
This partnership could be a strategic move for Ekso Bionics to solidify its market position in the medical exoskeleton domain. The collaboration with a reputable institution like the Shepherd Center can serve as a potent endorsement, potentially enhancing brand credibility and attracting interest from other rehabilitation centers. Long-term, this could lead to increased market penetration and sales growth as more healthcare providers consider integrating exoskeleton technology based on validated clinical outcomes.
However, the actual market impact will depend on the results of the research and the effectiveness of the training programs. If Shepherd Center’s integration of Ekso devices proves successful, it could set a precedent for other institutions to follow, significantly expanding Ekso’s market reach. Moreover, the inclusion of a reimbursement rate by the Centers for Medicare & Medicaid Services can alleviate financial barriers for patients, potentially increasing demand.
From an investor perspective, it is essential to follow the progression of this partnership closely, particularly focusing on clinical outcomes and patient adoption rates. The broader the acceptance and positive feedback from the medical community, the more likely it is that Ekso will experience sustainable growth in this niche market.
Collaboration Expands Use of EksoNR and Ekso Indego Devices in Rehabilitation and Community Settings to Better Improve Patient Quality of Life
SAN RAFAEL, Calif., June 25, 2024 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company” or “Ekso”), an industry leader in exoskeleton technology for medical and industrial use, today announced a research partnership with Shepherd Center, a renowned rehabilitation hospital in Atlanta, to incorporate EksoNR and Ekso Indego devices across its rehabilitation and community network. Shepherd Center provides world-class clinical care, research, and family support for people experiencing the most complex conditions, including spinal cord and brain injuries, multi-trauma, traumatic amputations, stroke, multiple sclerosis, and pain.
As part of the partnership, Ekso and Shepherd Center will work collaboratively to design a research and training program for the Ekso devices. The experience is expected to contribute to the evolving understanding of best practices for implementing Ekso training into a clinical program, as well as for individual use of the Ekso Indego Personal device.
Shepherd Center will also work with Ekso to design a training program for the Ekso Indego Personal device, which Ekso expects will offer individuals the opportunity to experience and explore exoskeleton technology, empowering those interested in purchasing a home device with the knowledge and skills needed for successful integration into their daily lives. Shepherd Center’s spinal cord injury (SCI) expertise and programming is uniquely positioned to investigate the clinical and quality of life benefits associated with incorporating exoskeleton technology throughout the continuum of care from hospital to home.
“We are thrilled to partner with Shepherd Center to advance the integration of our unique exoskeleton technology in the rehabilitation and community settings,” said Scott Davis, Chief Executive Officer of Ekso Bionics. “This collaboration comes at a pivotal moment, following the recent decision by the Centers for Medicare & Medicaid Services to provide a reimbursement rate for Ekso Indego Personal, opening new avenues for accessibility and patient care to individuals living with SCI. Our research partnership with Shepherd aligns with our mission to empower individuals with mobility challenges and enhance their overall quality of life.”
“Shepherd Center is proud to be at the forefront of innovation in rehabilitation,” said Deborah Backus, PT, Ph.D., FACRM, Vice President of Research and Innovation at Shepherd Center. “We expect that incorporating Ekso’s exoskeleton devices into our rehab center will not only benefit our patients across the continuum of care, but also contribute valuable insights to the broader medical community.”
About Ekso Bionics®
Ekso Bionics® is a leading developer of exoskeleton solutions that amplify human potential by supporting or enhancing strength, endurance and mobility across medical and industrial applications. Founded in 2005, the Company continues to build upon its industry-leading expertise to design some of the most cutting-edge, innovative wearable robots available on the market. Ekso Bionics is the only known exoskeleton company to offer technologies that range from helping those with paralysis to stand up and walk, to enhancing human capabilities on job sites across the globe. The Company is headquartered in the San Francisco Bay Area and is listed on the Nasdaq Capital Market under the symbol “EKSO.” For more information, visit: www.eksobionics.com or follow @EksoBionics on X.
About Shepherd Center
Shepherd Center provides world-class clinical care, research, and family support for people experiencing the most complex conditions, including spinal cord and brain injuries, multi-trauma, traumatic amputations, stroke, multiple sclerosis, and pain. An elite center recognized as both Spinal Cord Injury and Traumatic Brain Injury Model Systems, Shepherd Center is ranked by U.S. News as one of the nation’s top hospitals for rehabilitation. Shepherd Center treats thousands of patients annually with expertise and compassion to help them begin again.
Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the potential benefits of EksoNR or Ekso Indego, (ii) the performance or effectiveness of the Company’s products, including the EksoNR or Ekso Indego, (iii) the details of and expected results from the Company’s research collaboration with Shepherd Center, including the expected benefits to patients and potential promotion of the Company’s devices, and (iv) the assumptions underlying or relating to any statement described in clauses (i), (ii) and (iii) 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 over. 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, patient or therapist dissatisfaction with EksoNR, any delay or discontinuation of the research collaboration, or Ekso Indego and risks related to product liability, recall and warranty claims. These and other factors are identified and described in more detail in the Company’s filings with the U.S. Securities and Exchange Commission. To learn more about Ekso Bionics please visit the Company’s website at www.eksobionics.com or follow @EksoBionics on X. The Company does not undertake to update these forward-looking statements.
Contacts:
Investors:
David Carey
FINN Partners
212-867-1768
investors@eksobionics.com
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