CAMBRIDGE, Mass.--(BUSINESS WIRE)--Myomo®, Inc. (NYSE MKT: MYO) (“Myomo” or the “Company”), a commercial stage medical robotics company, today announced the launch of its Center of Excellence (CoE) program, which recognizes top orthotics and prosthetics (“O&P”) practices in the U.S. that support its MyoPro® line of powered orthoses. MyoPro is the only lightweight wearable device that can restore function in the paralyzed or weakened arms and hands of individuals who have suffered a stroke, spinal cord or nerve injury, or other neuromuscular disability. With the orthosis, a paralyzed individual can perform activities of daily living including feeding themselves, carrying objects and doing household tasks, and many are able to return to work.
As a Myomo CoE, an O&P practice participates in joint marketing and receives training and patient support from Myomo and its network of clinical partners. Seven O&P practice organizations with a combined 31 locations across the U.S. have now met the training, quality and patient support qualifications to be recognized as a Myomo CoE. These are:
- LimbLab, headquartered in Rochester, Minn., with clinics in Mankato and La Crosse, Wis.;
- Handspring, with clinics in Manhattan and Middletown, N.Y., Atlanta, Denver, Los Angeles, Salt Lake City and Tampa, Fla.;
- Valley Institute of Prosthetics and Orthotics in Bakersfield and Santa Clarita, Calif.;
- biodesigns serving Los Angeles, Ventura and Santa Barbara counties, CA;
- United Prosthetics, with clinics in the Boston area;
- Ability Prosthetics & Orthotics, with ten clinics near Baltimore, Philadelphia, Harrisburg-Hershey Region, PA, Charlotte and Asheville, NC, and Washington, DC; and
- Geauga Rehabilitation Engineering (GRE), with clinics in the Cleveland area.
“MyoPro is one of the most exciting and unique products to come along to the O&P industry in the last decade,” said Thomas Kirk, member of the Myomo board of directors, former president of the American Orthotics and Prosthetics Association (AOPA), and former CEO of Hanger, Inc., the largest provider of O&P services in the U.S. “For those patients in the middle, where they had impaired functionality but still had the limb in place, there was no alternative and no answer. MyoPro, however, enables O&P practices to offer a highly functional upper extremity product that fills the gap between a passive orthosis and a prosthetic for amputees. As CoEs, O&P practitioners can treat a broader range of patients.”
“We look forward to working with these organizations who have demonstrated the product knowledge, skills supporting patients and revenue potential to qualify as Myomo Centers of Excellence,” said Paul R. Gudonis, Chairman and CEO of Myomo. “We are already planning joint continuing education courses for clinicians, joint media outreach and other joint activities with several of them, while also recruiting additional O&P firms across the U.S. to become Centers of Excellence.”
Myomo CoEs partner with physicians and therapists at leading U.S. rehabilitation hospitals, who recommend and prescribe MyoPro as well as train new MyoPro users. These rehabilitation hospitals include Presbyterian Hospital, Hospital for Special Surgery, Helen Hayes Rehabilitation Hospital and Burke Rehabilitation Hospital in New York; Mayo Clinic in Minnesota; The Kennedy Krieger Institute/Johns Hopkins Hospital in Baltimore; MedStar National Rehabilitation Hospital in Washington, D.C.; Cleveland Clinic, University Hospitals, Lake Health and MetroHealth in the Cleveland area; HealthSouth Braintree Rehabilitation Hospital, Spaulding Rehabilitation Hospital and Massachusetts General Hospital in the Boston area; Loma Linda University Medical Center, Stanford University Medical Center and Centre for Neuro Skills in California; University of Kansas Medical Center; Washington University Medical Center in St. Louis; Rehabilitation Institute of Chicago; Northwestern Memorial Hospital in Chicago; University of Wisconsin Hospital; and University of Miami Hospital.
In addition, Myomo distribution partner Ottobock, based in Germany and a world market leader in technical orthopedics, is marketing the MyoPro product line to Veterans Administration (VA) medical centers across the U.S. VA medical centers receive the same type of clinical training and support as commercial O&P practices in the CoE program.
Myomo, Inc. is a commercial stage medical robotics Company that offers expanded mobility for those suffering from neurological disorders and upper limb paralysis. Based on patented technology developed at MIT and the Company, Myomo develops and markets the MyoPro® product line of lightweight, non-invasive, powered arm braces to restore function in the paralyzed or weakened arms and hands of individuals that have suffered a stroke, spinal cord or nerve injury such as brachial plexus injury, or other neuromuscular disability such as amyotrophic lateral sclerosis (ALS) or multiple sclerosis (MS). It is provided through clinical relationships with VA medical centers, leading rehabilitation hospitals, and Orthotics and Prosthetics (“O&P”) practices. Several hundred have been successfully used by patients. It is the only device that, sensing a patient’s own neurological signals through non-invasive sensors on the arm, can restore their ability to use their arms and hands so that they can return to work, live independently and reduce their cost of care. Myomo is headquartered in Cambridge, Massachusetts, with sales and clinical professionals across the U.S. For more information, please visit www.myomo.com.
Forward Looking Statements
This press release contains forward-looking statements regarding the trading of the Company’s common stock on the NYSE, the Company’s plans for the use of proceeds and advancing its product line, increasing its sales and marketing efforts and growing its business, and the Company's future business expectations, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors. Other risks and uncertainties include, among others, risks related to the Company’s liquidity and financial position, the trading of its common stock, its new products, services, and technologies, government regulation and taxation, and fraud. More information about factors that potentially could affect Myomo's business and financial results are included in Myomo's filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.