Hanger Ventures Announces Inaugural Investment

AUSTIN, Texas--(BUSINESS WIRE)--Hanger Ventures, a Hanger, Inc. business whose primary objective is to advance orthotics and prosthetics innovation and improve patient outcomes, today announced its debut investment in Bionic Power, a Canadian-based firm. A developer of active lower body smart orthotic devices that enhance personal mobility, Bionic Power is raising Series A Round funding, with Hanger Ventures committing as the lead investor.

“We are thrilled to make our inaugural investment in Bionic Power,” shared James Campbell, Ph.D., Hanger Ventures President and Hanger, Inc. Chief Clinical Officer. “We look forward to contributing clinical research, along with technical and commercial expertise, to bring innovative solutions to the market that have the potential to meet an unmet clinical need and improve the quality of life for individuals with mobility challenges.”

Bionic Power devices enhance walking abilities for children and adults with neuromuscular diseases and conditions, including cerebral palsy, spina bifida, and stroke. The collaboration provides Bionic Power with financial funding and services for product development, clinical trials, and go-to-market support.

“When we learned about the creation of Hanger Ventures, we felt the opportunity was a great match for Bionic Power’s needs, and the subsequent discussions confirmed our initial impression,” shared Gualtiero Guadagni, Ph.D., Bionic Power Chief Executive Officer. “Hanger Ventures is offering far more than capital, and we are eager to leverage their support to expand our business and have a greater impact on those who can benefit from our life-changing products.”

For more information on Bionic Power, visit www.bionic-power.com.

About Hanger Ventures – Hanger Ventures invests in entrepreneurs and small businesses that ignite clinical and technical advances in orthotics and prosthetics, and is part of the Hanger, Inc. ecosystem of diversified companies. Hanger Ventures is focused on accelerating innovation, developing technology, and improving patient outcomes worldwide. For more information, visit www.hanger.com/ventures.