Argo Medical Technologies Partners With Yaskawa Electric

Argo Medical Technologies Ltd. has partnered with robotics company Yaskawa Electric Corporation as it continues the global expansion of its Rewalk exoskeleton device. The device is designed to help patients with lower limb disabilities such as paraplegia to walk. Yaskawa has made a significant capital investment into the Rewalk exoskeleton technology and will also serve as the exclusive distributor for the Rewalk in Japan, China, Singapore, Taiwan, Thailand, and Korea.

“This strategic partnership will bring significant value through the synergy of Yaskawa’s technology in the general field of robotics combined with our expertise in the human factors and treatment of spinal cord injuries,” said Argo CEO Larry Jasinski. “We look forward to this mutually beneficial partnership as we enter a new phase of development and growth.”

This recent investment by Yaskawa is the largest single investment in Argo as it closes its most recent, and largest, round of fundraisin. The new funding and partnership with Yaskawa is hoped to aid in Rewalk research and development efforts as well as support company growth.

“I am proud to be part of such a transformative company and watch it evolve from the vision of Dr. Amit Goffer who was inspired to develop the Rewalk based on his own personal story, to what is now a global exoskeleton leader,” said Argo Chairman and venture capital firm SCP Vitalife Managing Partner Jeff Dykan. “We are excited about this strategic partnership with Yaskawa as Argo continues to expand its global commercialization capabilities and bring the Rewalk to many more potential users around the world.”

Amit Goffer, Ph.D., is a quadriplegic.  He founded Argo in 2001 to develop a technology to help people with spinal cord injuries like himself walk again.

“Robotics has the potential to change the world of healthcare and rehabilitation, and Argo’s knowhow in the field will allow us to contribute to quality of life improvements of people around the world,” said Junji Tsuda, CEO of Yaskawa. “We are looking forward to developing and expanding this strategic partnership in the years to come as we strive to achieve the goals we set for ourselves in our ‘Vision 2015.’”

Yaskawa’s “Vision 2015” is a set of goals to create a market for robots that work closer and co-exist with humans; and develop solutions for renewable energies while constantly expanding its global scope of operations in its core mechatronics solution business.

Argo currently offers two Rewalk models: the Rewalk Personal, currently available in Europe and Israel and pending U.S. Food and Drug Administration review; and the Rewalk Rehabilitation which is now available in Europe, Israel and the United States. Both models are designed to provide a customized user experience with on-board computers and motion sensors that restore self-initiated walking without needing tethers or switches to begin movement.

Argo is based in Israel with U.S. offices in Marlborough, Mass. Yaskawa’s U.S. headquarters are in Waukegan, Ill.