MOUNT LAUREL, N.J., April 20, 2009 (GLOBE NEWSWIRE) -- Motorika announced today that it has recently closed on US$19.5 million of new financing. The new financing came from institutional and private investors, and will provide the necessary capital to realize both its short and long term strategic plans.
"This new financing, coupled with the recent significant sales from key accounts, will provide Motorika with a platform for growth," stated Omer Einav, chief operating officer and founder of Motorika.
Motorika will also use the funds to increase its clinical program and awareness of its product line while working with its key customers and partners to further enhance the product offering.
Fran Hackett, vice president of sales says, "With the increase in available funding we will continue to expand our market scope, providing our clients with the necessary support, education and service that has made us the industry leader in Robotic Assisted Technology. We have provided a strong foundation with the continued development of products for our partnering facilities. As technology expands into the Rehabilitation arena, Motorika can provide a solution for many facets in diagnosing, treatment, and validating clinical outcomes. I believe Motorika has become a company that will grow with the needs in the every changing environment within rehabilitation medicine."
About Motorika
Motorika, with offices in New Jersey, Alabama, and research and development facilities in Caesarea, Israel, is a pioneering medical device company developing robotic therapy technology designed to transform the rehabilitation healthcare marketplace by offering a viable, cost-effective solution for post stroke patients and patients suffering from other neurological disorders across the continuum of care. Additional information can be found at www.motorika.com
Forward-Looking Statements
This press release contains forward-looking statements about Motorika, including projections about its business and the rehabilitation market. These forward-looking statements are not guarantees of future performance and actual results could differ.