RICHMOND, Calif., September 14, 2017 Ekso Bionics Holdings, Inc. (NASDAQ: EKSO), a worldwide pioneer in the field of medical and industrial exoskeletons, and Genesis Rehab Services (GRS), a leading provider of physical, occupational, speech, and respiratory therapy, with a focus on the older adult population, announced today their collaboration to study opportunities for incorporating EksoGT™ in skilled nursing facilities.
Through its EksoGTTM , the first FDA-cleared wearable exoskeleton indicated for stroke and spinal cord injury (SCI) rehabilitation, Ekso is already helping stroke and SCI patients in hospital settings achieve early mobility and independence. Now, using guidance from Genesis Rehab Services, Ekso will learn more about post-acute rehabilitation settings to support better patient outcomes in skilled nursing facilities.
Through a learning collaboration between Genesis’ Layhill Center (Silver Spring, MD) and Ekso, the team is working to:
- Define the needs and challenges of the post-acute care industry.
- Investigate tactics to efficiently deploy and scale an exoskeleton program.
- Determine the clinical and economic benefits for a new standard of care.
- Quantify the economic case for adopting exoskeletons in rehabilitation.
Thomas Looby, President and Chief Executive Officer, remarked, “We are excited to learn from one of the most innovative rehabilitation services providers in the world, and would like to thank Sarah Thomas, Senior Director of Innovation for GRS, for the vision and commitment to bringing our two organizations together. In the United States alone, more than 2.4 million Medicare patients receive rehabilitation at nearly 15,000 skilled nursing facilitiesi. The leadership at Genesis has demonstrated a visionary and strategic approach to incorporating groundbreaking rehabilitation technology to further enhance patient care and outcomes, increase efficiencies, and reduce costs for payers at the more than 1,700 facilities it serves. Together, we aim to redefine rehabilitation for the entire industry, and ultimately to make exoskeleton gait rehabilitation a standard of care.”
Dan Hirschfeld, President of Genesis Rehab Services, commented, “We’re honored that Ekso recognizes us as an innovative rehab services leader. We expect that Ekso’s collaboration with our physical therapists at Layhill Center will pave the way for additional opportunities to influence innovation within the post-acute rehabilitation setting. We are excited to quantify the potential benefits of exoskeleton gait rehabilitation for our patients.”
About Genesis Rehab Services
Genesis Rehab Services (GRS) is a leading provider of physical therapy, occupational therapy, speech therapy, respiratory therapy, and wellness services, primarily for the older adult population. As one of the largest and strongest rehab organizations in the country, GRS partners with skilled nursing centers, assisted living facilities, independent living facilities, hospitals, home health companies, adult day care programs, and outpatient clinics to provide comprehensive therapy services.
GRS employs over 17,000 therapists and assistants in more than 1,700 locations. GRS operate in 46 states and the District of Columbia, and touches 55,000 patients each day. For more information, visit: www.genesisrehab.com.
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, industrial and defense applications. Founded in 2005, the company continues to build upon its unparalleled expertise to design some of the most cutting-edge, innovative wearable robots available on the market. Ekso Bionics is the only 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, to providing research for the advancement of R&D projects intended to benefit U.S. defense capabilities. The company is headquartered in the Bay Area and is listed on the Nasdaq Capital Market under the symbol EKSO. For more information, visit: www.eksobionics.com.
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 plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of human exoskeletons, (ii) estimates or projection of financial results, financial condition, capital expenditures, capital structure or other financial items, (iii) the Company’s future financial performance and (iv) the assumptions underlying or relating to any statement described in points (i), (ii) or (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, the Company’s inability to obtain adequate financing to fund the Company’s operations and necessary to develop or enhance our 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 our sales and marketing organization or partners to market our products effectively, adverse results in future clinical studies of the Company’s medical device products, the failure to obtain or maintain patent protection for the Company’s technology, failure 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 us at www.eksobionics.com. The Company does not undertake to update these forward-looking statements.
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i OIG, Adverse Events in Rehabilitation Hospitals: National Incidence Among Medicare Beneficiaries, OEI-06-14-00100, July 2016. Accessed September 7, 2017: https://oig.hhs.gov/oei/reports/oei-06-14-00110.pdf