Follows approval by a number of different main German suppliers
Myomo, Inc. (NYSE American: MYO) (“Myomo” or the “Firm”), a wearable medical robotics firm that gives elevated performance for these affected by neurological problems and upper-limb paralysis, right this moment introduced Techniker Krankenkasse (TK), Germany’s largest Statutory Well being Insurance coverage (SHI) firm, now approves reimbursement of MyoPro on a case-by-case foundation. TK covers over 10 Million insured lives and joins the ranks of different main German medical insurance suppliers together with BARMER, IKK Traditional, regional AOK insurances and a number of other BKK insurances which collectively cowl 28 million German lives and have now accredited funding for MyoPro.
About 90% of the German inhabitants is roofed by a SHI supplier.
As well as, one of many largest non-public well being insurers in Germany, Allianz, has now approved MyoPro. Personal insurance coverage covers roughly 9% of the inhabitants.
Myomo Managing Director for Europe, John Frijters, acknowledged, “Lots of the customers who’ve obtained a MyoPro via German insurance coverage have suffered lack of hand and arm perform because of a stroke, brachial plexus damage or a spinal twine damage. Receiving a MyoPro because of these insurance coverage selections adjustments their lives.”
In Germany, MyoPro is delivered via a rising community of Orthotic and Prosthetic (O&P) clinics throughout the nation. As of now, 35 such amenities serve and assist MyoPro customers.
Paul R. Gudonis, Myomo CEO, mentioned, “Our progress in Germany, despite the fact that now constrained by COVID lockdowns, present us that there’s robust and broad demand for MyoPro. Coupled with our not too long ago introduced three way partnership in China, we search to change into the worldwide customary of take care of these with paralyzed or weakened arms.”
This announcement coincides with the introduction of a brand new web site for Myomo in German language. It may be discovered at www.myomo.de.
Myomo, Inc. is a wearable medical robotics firm that gives improved arm and hand perform for these affected by neurological problems and higher limb paralysis. Myomo develops and markets the MyoPro product line. MyoPro is a powered higher limb orthosis designed to assist the arm and restore perform to the weakened or paralyzed arms of sufferers affected by CVA stroke, brachial plexus damage, traumatic mind or spinal twine damage, ALS or different neuromuscular illness or damage. It’s at the moment the one marketed gadget that, sensing a affected person’s personal EMG alerts via non-invasive sensors on the arm, can restore a person’s skill to carry out actions of every day dwelling, together with feeding themselves, carrying objects and doing family duties. Many are in a position to return to work, stay independently and scale back their value of care. Myomo is headquartered in Cambridge, Massachusetts, with gross sales and scientific professionals throughout the U.S. and representatives internationally. For extra info, please go to www.myomo.com.
Ahead Trying Statements
This press launch incorporates forward-looking statements relating to the Firm’s future enterprise expectations, together with advantages anticipated from insurance coverage protection in Germany and our actions in Germany, Australia and China, that are topic to the secure harbor provisions of the Personal Securities Litigation Reform Act of 1995. These forward-looking statements are solely predictions and should differ materially from precise outcomes because of a wide range of elements.
These elements embrace, amongst different issues:
our gross sales and commercialization efforts;
our skill to attain reimbursement from third-party payers for our merchandise;
our dependence upon exterior sources for the financing of our operations, to the extent that we don’t obtain or keep money circulation breakeven;
our skill to successfully execute our marketing strategy and scale up our operations;
our expectations as to our improvement applications; and
normal market, financial, environmental and social elements, together with the continued COVID-19 pandemic, which will have an effect on the analysis, becoming, supply and sale of our merchandise to sufferers.
Extra details about these and different elements that probably may have an effect on our monetary outcomes is included in Myomo’s filings with the Securities and Alternate Fee, together with these contained within the danger elements part of the Firm’s annual report on Kind 10-Ok, quarterly experiences on Kind 10-Q and different filings with the Fee. The Firm cautions readers to not place undue reliance on any such forward-looking statements, which converse solely as of the date made. Though the forward-looking statements on this launch of economic info are based mostly on our beliefs, assumptions and expectations, considering all info at the moment out there to us, we can’t assure future transactions, outcomes, efficiency, achievements or outcomes. No assurance will be made to any investor by anybody that the expectations mirrored in our forward-looking statements will likely be attained, or that deviations from them is not going to be materials and hostile. The Firm disclaims any obligation subsequently to revise any forward-looking statements to replicate occasions or circumstances after the date of such statements or to replicate the incidence of anticipated or unanticipated occasions.
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Kim Sutton Golodetz
LHA Investor Relations