An Ottawa company that makes equipment designed to boost the motor skills of patients suffering from brain and spinal cord injuries or diseases such as multiple sclerosis has been sold to a multibillion-dollar U.S. manufacturer and distributor of medical supplies.
Illinois-based Medline Industries, one of the largest private companies in the United States, said Tuesday it has acquired NeuroGym Technologies, a firm headquartered in the city’s west end. Terms of the deal were not released.
“When I engineered and brought NeuroGym to life, I had a vision of creating neurorehabilitation therapy for patients that would vastly change and improve their mobility and lives,” NeuroGym founder Avi Nativ said in a statement.
“Medline has shared that vision and helped advance it at every stage. This is a great fit for both companies and the beginning of even more innovation possibilities.”
NeuroGym’s products include a wheelchair that allows patients to exercise their trunk and lower extremities while sitting in it, as well as an interactive video game system that requires users to perform a range of movements and sends biofeedback to therapists.
According to the company’s website, its main customers are hospitals and health-care clinics as well as retirement and long-term care homes.
With operations in 90 countries, more than 18,000 employees worldwide and annual sales exceeding US$10 billion, family-owned Medline ranked No. 32 on Forbes’ list of America’s largest privately held companies in 2017. It began selling NeuroGym products two years ago.
According to Tuesday’s news release, all of NeuroGym’s employees will continue working with Medline, while Nativ will serve as a consultant with the business.