CAMBRIDGE, Mass.--(BUSINESS WIRE)--Myomo®, Inc. (NYSE American: MYO) (“Myomo” or the “Company”), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper limb paralysis, today announced agreements with leading orthotics and prosthetics practices to bring MyoPro® availability to 16 new U.S. locations.
Today’s announcement includes an agreement with Limb Lab, an independently owned and operated boutique prosthetic and orthotic company, to cooperate in two new markets: Jacksonville, Florida, and Scottsdale (Phoenix area), Arizona. Several medical and rehabilitation centers with national acclaim have locations in Jacksonville and Scottsdale. Myomo has recently hired business development managers in both Phoenix and Florida to support expected growth.
Limb Lab’s existing facilities in Rochester and Mankato, Minn., and La Crosse, Wisc., are well-established centers of excellence serving a range of patients, including those suffering from upper limb paralysis as a result of stroke or other neuromuscular disease or injury. Limb Lab frequently fits MyoPro devices for patients who have experienced brachial plexus injuries (BPI) and whose arms are impaired.
Carrie Kaster of Kansas City, Missouri, was fitted with a MyoPro by Limb Lab after a severe motorcycle accident damaged her brachial plexus and after surgery. “My arm was useless, even after surgery,” said Carrie. “I was given the option to amputate. Now, with MyoPro, I can again prepare meals, feed myself and perform many other activities of daily living. It has changed my life.”
Additional new agreements include Reach Orthotics & Prosthetics in Newport News, Chesapeake, Gloucester, and Williamsburg, Virginia; Teter Orthotics & Prosthetics in Traverse City and Grand Rapids, Michigan; and Springer Prosthetics and Orthotics in Lansing and Mount Pleasant, Michigan.
Through other partnerships, MyoPro is also available in Chicago; Indianapolis; Milwaukee; St. Louis and Kansas City, Missouri; and Wichita, Kansas.
Most commercial healthcare plans, multiple Medicaid plans, and many workers’ compensation and Medicare Advantage plans have covered the MyoPro based on medical necessity and the potential to reduce healthcare costs. Eligible veterans may receive a MyoPro through their local VA Medical Center.
Myomo, Inc. is a wearable medical robotics company that offers expanded mobility for those suffering from neurological disorders and upper limb paralysis. Myomo develops and markets the MyoPro product line. MyoPro is a powered upper limb orthosis designed to support the arm and restore function to the weakened or paralyzed arms of patients suffering from CVA stroke, brachial plexus injury, traumatic brain or spinal cord injury, ALS or other neuromuscular disease or injury. It is currently the only marketed device that, sensing a patient’s own EMG signals through non-invasive sensors on the arm, can restore an individual’s ability to perform activities of daily living, including feeding themselves, carrying objects and doing household tasks. Many are able to 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.
This press release contains forward-looking statements regarding the Company's future business expectations, including the therapeutic benefits of our products, expected growth of our business, the expected benefits of expanded MyoPro availability and continued coverage of MyoPro by healthcare plans, 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. Our actual results could differ materially from those anticipated in these forward looking statements for many reasons, including, without limitation, risks related to regulatory approval and market acceptance of our products, and that we may not realize the expected benefits of our agreements with the orthotics and prosthetics practices described in this press release, and the other risk factors contained in our filings made with the Securities and Exchange Commission. More information about factors that potentially could affect Myomo's financial results is 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.