Myomo Announces Availability of MyoPro at Ottobock Care Clinics in the U.S.

BURLINGTON, Mass.--(BUSINESS WIRE)--Myomo, Inc. (NYSE American: MYO), a wearable medical robotics company and manufacturer of the MyoPro® powered arm brace, announces expanded access to the MyoPro device through Ottobock Care clinics nationwide.

Ottobock Care will offer the MyoPro through its clinics across the country, helping individuals with upper extremity impairment caused by stroke, brachial plexus injury, or other neurological conditions regain function and improve quality of life.

“The MyoPro fits well into our strategy to position our O&P clinics as leaders in providing enhanced neuro-robotic solutions to our patient population. Ottobock Care already assists patients with lower limb mobility issues with a variety of orthotic devices, including the C-Brace, a powered knee-ankle-foot-orthosis. With the MyoPro, we are now able to offer a solution to those with arm and hand paralysis,” said Kevin Heidenreich, Head of Patient Services at Ottobock Care.

“We are pleased to be working with Ottobock Care’s clinical specialists and have already supported their efforts by training their clinicians in regions across the country,” said Paul R. Gudonis, Myomo’s Chairman and Chief Executive Officer. “Since Medicare and a growing number of health insurance plans are covering the cost of a MyoPro on a case-by-case basis for their beneficiaries, we are able to meet this large unmet need of these patients.”

Ottobock Care has successfully fitted several patients with a MyoPro, helping them to regain the ability to perform daily activities independently.

About Ottobock Care

Otto Bock Patient Care, LLC is a global leader in prosthetic and orthotic solutions. With over 50 patient care centers across the United States, Ottobock Care delivers comprehensive clinical services combining advanced technology with personalized patient care. The team of certified clinicians specializes in prosthetics, orthotics, and mobility solutions, working closely with patients, physicians, and therapists to provide life-changing outcomes. Ottobock Care is committed to improving quality of life through innovation, clinical excellence, and compassionate care. As part of the Ottobock family, with over 100 years of innovation in the field, Ottobock Care brings world-class expertise and cutting-edge technology to communities across America. For more information, visit www.ottobockcare.us.

About Myomo, Inc.

Myomo, Inc. is a wearable medical robotics company that offers improved arm and hand function 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 certain patients suffering from CVA stroke, brachial plexus injury, traumatic brain or spinal cord injury or other neuromuscular disease or injury. It is currently the only marketed device in the U.S. 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 Burlington, Massachusetts, with sales and clinical professionals across the U.S. and representatives internationally. For more information, please visit www.myomo.com.

Forward-Looking Statements

This press release contains forward-looking statements regarding the Company’s future business expectations, including expectations regarding the effective dates of state contracts and expansion of access to the MyoPro, 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.

These factors include, among other things:

• our ability to obtain sufficient reimbursement from third-party payers for our products;
• our dependence on external sources for the financing of our operations;
• our ability to scale the business to achieve positive cash flow from operations;
• our revenue concentration with patients who carry Medicare Part B;
• our ability to continue normal operations and patient interactions without supply chain disruption in order to deliver and fit our custom-fabricated devices;
• our marketing and commercialization efforts;
• our ability to obtain and maintain our strategic collaborations and to realize the intended results of such collaborations;
• our expectations as to our product development programs, including improving our existing products and developing new products;
• our ability to maintain and grow our reputation and to achieve and maintain the market acceptance of our products;
• our expectations as to our clinical research program and clinical results;
• our ability to maintain adequate protection of our intellectual property and to avoid violation of the intellectual property rights of others;
• our ability to gain and maintain regulatory approvals;
• our ability to compete and succeed in a highly competitive and evolving industry; and
• general market, economic, environmental and social factors that may affect the evaluation, fitting, delivery and sale of our products to patients.

More information about these and other factors that potentially could affect our financial results is included in Myomo’s filings with the Securities and Exchange Commission, including those contained in the risk factors section of the Company’s annual report on Form 10-K, quarterly reports on Form 10-Q and other filings with the Commission. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Although the forward-looking statements in this release of financial information are based on our beliefs, assumptions and expectations, taking into account all information currently available to us, we cannot guarantee future transactions, results, performance, achievements or outcomes. No assurance can be made to any investor by anyone that the expectations reflected in our forward-looking statements will be attained, or that deviations from them will not be material or adverse. 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.