Ekso Bionics Appoints Deborah Lafer Scher to its Board of Directors

Rhea-AI Summary

Ekso Bionics has appointed Deborah Lafer Scher to its Board of Directors, effective June 6, 2024. Scher brings extensive healthcare experience, having served as an Executive Advisor to the U.S. Department of Veterans Affairs (VA). She led the VA Secretary's Center for Strategic Partnerships and implemented over $250 million in programs for veterans. Currently, she is a Senior Advisor at the Milken Institute and serves on multiple boards. Scher's appointment aligns with Ekso's recent Medicare reimbursement pricing for the Ekso Indego Personal, which aids in patient rehabilitation.

Positive

• Appointment of Deborah Lafer Scher brings substantial healthcare expertise and strategic value.
• Scher's experience with the VA includes implementing over $250 million in programs for veterans.
• Currently serves as a Senior Advisor at the Milken Institute, enhancing Ekso's strategic advisory capabilities.
• Scher's board roles at EnableComp and 2Serve Together add governance and industry insights.
• Ekso Indego Personal received Medicare reimbursement pricing, potentially increasing market acceptance and sales.

Negative

• The press release does not mention any immediate financial impact or revenue projections from the appointment.
• Medicare reimbursement pricing, while beneficial, may involve regulatory and compliance challenges.

Brings Strategic Healthcare Expertise and Extensive Experience with the U.S. Department of Veterans Affairs (VA) to Ekso’s Board

Deborah Lafer Scher

SAN RAFAEL, Calif., June 17, 2024 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company”), an industry leader in exoskeleton technology for medical and industrial use, today announced the appointment of Deborah Lafer Scher to its Board of Directors, effective June 6, 2024.

“We are pleased to strengthen our Board with the addition of Deborah Lafer Scher, a distinguished leader who brings a wealth of healthcare experience and a proven track record of business development expertise,” said Scott Davis, President and Chief Executive Officer of Ekso Bionics. “Deborah’s advisory roles with the VA and the Milken Institute, combined with her extensive Board experience, make her a valuable addition to our Board. We look forward to the strategic value and unique insights that Deborah will bring to Ekso.”

Ms. Scher brings extensive experience driving growth and building innovative healthcare organizations in both the public and private sector. As a former Executive Advisor to four Cabinet Secretaries across two Presidential administrations at the U.S. Department of Veterans Affairs, she led the VA Secretary’s Center for Strategic Partnerships and implemented more than $250 million in new programs benefitting veterans nationwide. Currently, she is a Senior Advisor at the Milken Institute, a healthcare and economic think tank. She also serves as an Independent Director on the Board at EnableComp, and as a Board Director at 2Serve Together. Ms. Scher has also held leadership positions at Weill Cornell Medical Center, Dun & Bradstreet, CareOne, Walsh International, and Warburg Pincus. Ms. Scher holds a Bachelor of Arts from Haverford College and a Master of Business Administration from Columbia University.

“I am honored to join Ekso’s Board at a pivotal time for the Company, especially following the recent pricing determination for Medicare reimbursement of the Ekso Indego Personal,” said Ms. Scher. “Ekso’s differentiated technology has played a crucial role in rehabilitating thousands of patients, including many veterans. This commitment to improving patients’ lives is a key reason why I am pleased to join the Ekso Board and contribute to its mission.”

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.

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 the plans, objectives and expectations of management with respect to the Company’s commercial strategy and future revenues or other financial results and the assumptions underlying or relating to the foregoing. 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, the Company's inability to obtain adequate financing to fund the Company's operations and necessary to develop or enhance the Company’s technology, the significant length of time and resources associated with the development of the Company's products, the Company's failure to achieve broad market acceptance of the Company's products, the failure of the Company’s sales and marketing efforts or of partners to market the Company’s products effectively, adverse results in future clinical studies of the Company's medical device products, the failure of the Company to obtain or maintain patent protection for the Company's technology, the failure of the Company to obtain or maintain regulatory approval to market the Company's medical devices, lack of product diversification, existing or increased competition, 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. To learn more about Ekso Bionics please visit the Company’s website at www.eksobionics.com. The Company does not undertake to update these forward-looking statements.

Contacts:
Investors:
David Carey
FINN Partners
212-867-1768
investors@eksobionics.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c69c0160-bd62-4f84-a800-f7461f1950bc

FAQ

Who has Ekso Bionics appointed to its Board of Directors?

Ekso Bionics has appointed Deborah Lafer Scher to its Board of Directors.

When was Deborah Lafer Scher appointed to the Ekso Bionics Board?

Deborah Lafer Scher was appointed to the Board on June 6, 2024.

What experience does Deborah Lafer Scher bring to Ekso Bionics?

Deborah Lafer Scher has extensive healthcare and strategic partnership experience, including roles at the VA and the Milken Institute.

What is the significance of the Medicare reimbursement for Ekso Indego Personal?

The Medicare reimbursement for Ekso Indego Personal is significant as it may increase market acceptance and sales.

What strategic value does Deborah Lafer Scher add to Ekso Bionics?

Deborah Lafer Scher adds strategic healthcare expertise and extensive business development experience to Ekso Bionics.