Parker Hannifin Corporation, the global leader in motion and control technologies, today announced that it will market its new exoskeleton device under the name Indego.
By definition an exoskeleton is a skeleton on the outside of the body in some invertebrate animals, esp. arthropods. A powered exoskeleton, also known as powered armor, or exoframe, is a powered mobile machine consisting primarily of an exoskeleton-like framework worn by a person and a power supply that supplies at least part of the activation-energy for limb movement.
Parker recently announced an exclusive licensing agreement with Vanderbilt University for its exoskeleton technology, which allows individuals with severe spinal cord injury to walk and enhances rehabilitation for people who have suffered a stroke.
The agreement gives Parker exclusive rights to develop, manufacture and sell the device, subsequent to the appropriate regulatory clearances.
Parker intends to invest in further development of the technology and establish a business unit targeting commercial launch of the exoskeleton device in 2014.
"We believe the name Indego captures the essence of the device, highlighting the primary benefit of enhanced independence," said Craig Maxwell , Vice President of Technology and Innovation for Parker.
"The design objective of the team has always been to provide a solution that functions as a natural extension of the user. Indego's compact, lightweight and intuitive design creates a seamless interface between man and machine. These features will become increasingly important as we extend availability of the device beyond the clinical setting and into the personal mobility space."
Two additional advantages from a rehabilitative perspective:
Indego is currently being tested and refined through clinical research at the Shepherd Center in Atlanta, Georgia, one of the foremost rehabilitation hospitals in the United States.
Patient and clinician feedback on the device has been overwhelmingly positive and the Center has concluded that the device has the most promise as a rehabilitation and home device.
With annual sales exceeding $13 billion in fiscal year 2012, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of mobile, industrial and aerospace markets.
The company employs approximately 60,000 people in 48 countries around the world. Parker has increased its annual dividends paid to shareholders for 56 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index.
For more information, visit the company's web site at www.parker.com or its investor information web site at www.phstock.com To learn more about Indego please visit: Indego.parker.com
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