Shares of Ekso Bionics Holdings Inc. (NASDAQ:EKSO) soared 20% on Thursday after the company announced a new agreement that makes it the exclusive U.S. distributor for MediTouch’s BalanceTutor rehabilitation system.
Ekso Bionics — known for its medical and industrial exoskeleton technologies — will act as the authorized sales agent for the advanced balance-retraining solution across the United States. BalanceTutor is described as the only rehabilitation system featuring a patented 4D perturbation treadmill equipped with multiple force and motion sensors.
According to the company, the treadmill can shift in various directions to recreate real-world disturbances such as slips, trips, and stumbles while a patient is walking or standing. The design also includes an overhead support frame that enables patients to practice handling balance disruptions without risking injury.
“We are excited to add MediTouch’s BalanceTutor rehabilitation system to our leading technology offerings, expanding our reach in patient care,” said Ekso Bionics’ Chief Executive Officer, Scott Davis. He added that the technology is “synergistic” with the firm’s existing go-to-market strategy by serving the same customer segments with complementary solutions.
Moshe Druker, VP of Global Business Development at MediTouch, also welcomed the collaboration, noting that it will help broaden access to their rehabilitation technology throughout the U.S.
The deal marks a meaningful milestone for Ekso Bionics, which currently carries a market capitalization of roughly $11.5 million.