The U.S. alone has more than 230,000 people living with spinal cord injuries. About 155,000 of them are paraplegics. It costs well over $1 million to treat each patient over a lifetime.
"Parker Signs Licensing Agreement with Vanderbilt for Exoskeleton Technology and Targets Commercial Launch in 2014 - Device offers individuals with spinal cord injury and stroke the opportunity to walk again CLEVELAND, Oct. 30, 2012 /PRNewswire/ -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that it has signed 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. Parker intends to invest in further development of the technology and establish a business unit targeting commercial launch of the exoskeleton device in 2014."