There is no end to what all human beings can do, but there is little we do better than growing on a consistent basis. This tendency of ours to get better under every possible situation has already got us some huge milestones, with technology appearing as a major member of the stated group. The main reason why technology enjoys such an esteemed stature among people is down to its skill-set, which ushered us towards a reality that we couldn’t have imagined otherwise. Nevertheless, if we look a little bit closer, it should become clear how the whole runner was also very much inspired by the way we applied those skills across a real-world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, including a timely appearance on our healthcare block. Technology’s foray into healthcare was perfect with its timing as it came right when the sector was beginning to struggle against its own outdated structure. This reality, fortunately for us, went through a complete overhaul under the new regime, but even after achieving such a monumental feat, the emerging medtech concept will somehow continue to produce all the right goods. The same has turned increasingly evident over the recent past, and truth be told, a new acquisition should only make that trend bigger and better moving forward.
Ekso Bionics — a San Rafael, California-based provider of exoskeleton bionic devices, has officially acquired Parker Hannifin’s business unit for human motion and control in exchange of a sum worth around $10 million. As per the agreed terms, Ekso will fork out half the amount upfront, while the remaining share is expected to be paid over the next five years. Talk about why the company selected Parker Hannifin, the Ohio-based manufacturer expands Ekso’s product offering across the continuum of care to home and community use markets. On a more granular level, this expansion comes from Parker’s widely-acclaimed Indego lower limb exoskeleton line of products that allows clinicians to deliver individualized gait therapy to patients in inpatient, outpatient, and even home settings, and it also comes from various other robotic assisted orthotic and prosthetic devices that are already deep into their development phase.
“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.”
Apart from it, the deal even provides Ekso with an uninterrupted access to some key commercial and research partners, including Vanderbilt University.
Founded back in 2005, Ekso Bionics is the only company, at the moment, which offers technologies to help those with paralysis to stand up and walk, as well as to enhance human capabilities on job sites across the globe. Now, with the technological additional of this epic proportion, the company should only be able to widen that gap even further.
When quizzed regarding the future prospects of this acquisition, Mark Czaja, Vice President – Chief Technology and Innovation Officer of Parker Hannifin, said:
“This is a great technology with an outstanding team that has built a highly differentiated product offering to help improve gait performance and outcomes for people living with mobility impairments. The acquisition will allow Ekso to leverage their robust commercial and clinical teams to ultimately enable this important technology to reach more patients in need across the continuum of care.”
