Salona Global Announces the Debut of the Biodex Reactive Step Trainer, a Revolutionary Balance Training System to Reduce Falls; Commences AI Enabled Software Component
December 18 2023 - 7:30AM
Salona Global Medical Device Corporation (the
“
Company”) (TSXV:SGMD), announced today the
debut of the Biodex Reactive Step Trainer (“
RST”):
A revolutionary medical device that combines Biodex Rehab’s
industry leading gait trainer platform with a clinically proven
perturbation training system.
There is a critical need for a proactive
approach to fall prevention as the world’s population is aging1.
One in three people over the age of 65 experience at least one fall
each year and those falls are the leading cause of fatal and
nonfatal injuries in older adults2.
The RST can help by retraining the neuromuscular
system to respond when a person becomes off balance, with the aim
of creating muscle memory when recovering from a trip or slip in a
controlled environment.
The Company plans to launch the product in the
United States at the American Physical Therapy Association,
Combined Sections Meeting in Boston on February 15th – 17th,
2024.
Available for shipment to customers globally in
2024, the RST medical device further extends the Biodex
institutional grade technology and intellectual property to the
48,000+ physical therapy rehabilitation centers3 and the
approximately 30,600+ independent living communities in the United
States alone4.
Additionally, the Company is engaging Limmi, a
healthcare artificial intelligence platform company, to develop
predictive capabilities for the RST using machine learning from
data collected by the device for each individual patient.
“After a record revenue quarter generating a
profit, we have debuted another exciting product that has the
potential to increase revenue at Biodex,” said Mike Seckler, CEO.
“Along with the portable SpaceTek Knee™ product we debuted last
month, we envision the RST being a staple product for clinics
globally. We have two new products that expand our market and that
is setting up for a fantastic year in 2024”.
For more information please contact:
Mike SecklerChief Executive OfficerTel: 1 (800)
760-6826Email: Info@Salonaglobal.com
Additional Information
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Certain statements contained in this press
release constitute "forward-looking information" within the
meaning of the Private Securities Litigation Reform Act of 1995
and applicable Canadian securities laws. These statements can be
identified by the use of forward-looking terminology such as
“expects” “believes”, “estimates”, "may", "would", "could",
"should", "potential", "will", "seek", "intend", "plan",
and "anticipate", and similar expressions as they relate to
the Company, including: the Company changing its name; the timing
of launch and shipment of the RST; and the anticipated uses of the
RST and the results of such use.
All statements other than statements of
historical fact may be forward-looking information. Such
statements reflect the Company's current views and intentions
with respect to future events, and current information available
to the Company, and are subject to certain risks, uncertainties
and assumptions, including: completion of field testing to collect
user experience and clinical data; the availability of RST
components; and the active participation of the Company at the
Boston meetings. The Company cautions that the forward-looking
statements contained herein are qualified by important factors
that could cause actual results to differ materially from those
reflected by such statements. Such factors include but are not
limited to the general business and economic conditions in the
regions in which the Company operates; the ability of the
Company to execute on key priorities, including the successful
completion of acquisitions, business retention, and strategic
plans and to attract, develop and retain key executives;
difficulty integrating newly acquired businesses; ongoing or new
disruptions in the supply chain, the extent and scope of such
supply chain disruptions, and the timing or extent of the
resolution or improvement of such disruptions; the ability to
implement business strategies and pursue business opportunities;
disruptions in or attacks (including cyber-attacks) on the
Company’s information technology, internet, network access or
other voice or data communications systems or services; the
evolution of various types of fraud or other criminal behavior
to which the Company is exposed; the failure of third parties
to comply with their obligations to the Company or its
affiliates; the impact of new and changes to, or application
of, current laws and regulations; granting of permits and
licenses in a highly regulated business; the overall difficult
litigation environment, including in the United States;
increased competition; changes in foreign currency rates;
increased funding costs and market volatility due to market
illiquidity and competition for funding; the availability of funds
and resources to pursue operations; critical accounting
estimates and changes to accounting standards, policies, and
methods used by the Company; the occurrence of natural and
unnatural catastrophic events and claims resulting from
such events; as well as those risk factors discussed or referred
to in the Company’s disclosure documents filed with United
States Securities and Exchange Commission and available at
www.sec.gov, and with the securities regulatory authorities in
certain provinces of Canada and available at www.sedarplus.ca.
Should any factor affect the Company in an unexpected manner, or
should assumptions underlying the forward-looking information
prove incorrect, the actual results or events may differ
materially from the results or events predicted. Any such
forward-looking information is expressly qualified in its
entirety by this cautionary statement. Moreover, the Company
does not assume responsibility for the accuracy or completeness
of such forward-looking information. The forward-looking
information included in this press release is made as of the
date of this press release and the Company undertakes no
obligation to publicly update or revise any forward-looking
information, other than as required by applicable law.
-
https://www.who.int/news-room/fact-sheets/detail/ageing-and-health
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https://www.cdc.gov/injury/features/older-adult-falls/index.html
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https://www.ibisworld.com/industry-statistics/number-of-businesses/physical-therapy-rehabilitation-centers-united-states/#:~:text=Questions%20Clients%20Ask%20About%20This%20Industry&text=There%20are%2048%2C698%20Physical%20Therapy,increase%20of%203.6%25%20from%202021
-
https://www.ahcancal.org/Assisted-Living/Facts-and-Figures/Pages/default.aspx
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