First came Ekso Bionics with an alternative public offering that netted $30.3 million; then Cyberdyne let its stock be listed on the Tokyo Stock Exchange; and last week the WSJ reported that ReWalk Robotics had filed an IPO and planned to raise $57.5 million.
A recent Wintergreen research report said that the rehabilitation robot market will grow from $43.3 million to $1.8 billion by 2020. The report covers products such as rehab/therapy robots, active prostheses, exoskeletons and wearable robotics. It also describes patient needs for all types of injuries, disabilities and therapies and recaps dozens of companies involved in the industry, particularly AlterG, InMotion, Ekso Bionics, Myomo, Cyberdyne, ReWalk Robotics and Hocoma. Now, three of those companies have gone public.
Rewalk Robotics (previously named Argo Medical Technologies), an Israeli start-up, received FDA approval in June for their exoskeleton to aid movement for people with lower body paralysis and last week the WSJ reported that the company plans to raise up to $57.5 million from an IPO. It has partnered with Yaskawa and others involved in the distribution of rehabilitation devices. The company is now headquartered in Marlborough, MA and the stock will appear on the NASDAQ Exchange.
Cyberdyne, a spin-off from the University of Tsukuba, has developed a complete line of exoskeleton products (HAL) for brain and mobility disabilities as well as non-medical purposes such as eldercare and worker assistance devices. On March 26, 2014, Cyberdyne let its stock be listed on the Tokyo Stock Exchange CEO Yoshiyuki Sankai will retain the majority voting rights “in order to prevent the company’s technology from ever being used for military purposes.” Cyberdyne is offering a lower-limb version of their HAL device in Europe after receiving CE Marking approval. FDA approval is pending. Cyberdyne also has a line of industrial grade autonomous floor cleaning robots.
Ekso Bionics Holdings did an alternative public offering in January, 2014 and changed its name once again – from Berkeley Bionics to Ekso Bionics to Ekso Bionics Holdings. The company has licensed a military version of its exoskeleton to Lockheed Martin and also has set up a division to further intellectual property through contracts and research grants. Their Ekso exoskeleton is available through collaborative rehab centers all over the world.
Mauli Naikude says
In five years you’ll see exoskeletons in many applications like Healthcare, Defense, and Industrial
The exoskeleton market is expected to grow from USD 104.3 Million in 2016 to USD 2,810.5 Million by 2023, at a CAGR of 45.2% between 2017 and 2023. The exoskeleton market is mainly driven by the factors such as the growing demand from the healthcare sector for robotic rehabilitation, advancements in robotic technologies, and huge investments for the development of exoskeleton technology.
Randy Juras says
I would like to know more about exoskeleton use in healthcare situations. Especially companies that are looking to establish offices near healthcare facilities.
Mitchell Stephens says
I would like a company to come my plant and demo the exoskeleton shoulder unit.
Steven Crowe says
Mitchell, thanks for reading. Check out this page on Ekso Bionics’ website. They have a sign-up form you need to fill out to request a demo of these industrial exoskeletons.
Hope this helps! And keep us posted.
Albeo Levesque says
I am a victim of Post Polio Syndrome. I would love to be able to walk in the woods with my sons. I wondered if medicare/Medicaid would help in the purchase of one of these suits for me…..
Audrey Kennedy says
Did you ever hear from them about your request? I’m curious because my disabled brother has a prescription for one
We recently met with an accident and my 11 year old daughter suffered spinal injury and she is not able to walk, so I would like to know if there is any pediatric exoskeleton for individual use.
Cecelia Baga says
I would love to see my 22 year old nephew walk again!!
Cual seria él precio de eso?