Hanger Ventures Invests in Canadian Orthotic Developer

Hanger Ventures has conducted its inaugural investment.

The company is backing Bionic Power, a Canadian-based firm developing active lower body smart orthotic devices that enhance personal mobility. Bionic Power is raising Series A Round funding, and Hanger Ventures is its lead investor. Neither company, however, disclosed specifics of the financing.
 
“We are thrilled to make our inaugural investment in Bionic Power,” Hanger Ventures President and Hanger Inc. CEO James Campbell, Ph.D., said. “We look forward to contributing clinical research, along with technical and commercial expertise, to bring solutions to the market that have the potential to meet an unmet clinical need and improve the quality of life for individuals with mobility challenges.”
 
Bionic Power devices enhance walking abilities for children and adults with neuromuscular diseases and conditions, including cerebral palsy, spina bifida, and stroke. The collaboration provides Bionic Power with financial funding and services for product development, clinical trials, and go-to-market support.
 
“When we learned about the creation of Hanger Ventures, we felt the opportunity was a great match for Bionic Power’s needs, and the subsequent discussions confirmed our initial impression,” Bionic Power CEO Gualtiero Guadagni, Ph.D., stated. “Hanger Ventures is offering far more than capital, and we are eager to leverage their support to expand our business and have a greater impact on those who can benefit from our products.”
 
Hanger Ventures invests in entrepreneurs and small businesses that ignite clinical and technical advances in orthotics and prosthetics, and is part of the Hanger Inc. ecosystem of diversified companies. Hanger Ventures is focused on accelerating innovation, developing technology, and improving patient outcomes worldwide.