Bioservo has Entered Distribution Agreement for Selling the All-new Ironhand ® in Germany, Spain, Portugal and Poland

STOCKHOLM, Sept. 4, 2019 /PRNewswire/ --  Bioservo Technologies AB (publ) (Nasdaq First North: BIOS) has entered an exclusive distribution agreement for selling the all-new Ironhand® with ITURRI, SA. Group for the German, Spanish, Portuguese and Polish market.  ITURRI has a management team and sales force that has previous experience from successfully selling exoskeletons for industrial use and has a broad range of customers in Germany, Spain and Portugal that fit the Bioservo commercialization strategy well.

Petter Bäckgren, CEO Bioservo, commented: "We are happy to welcome ITURRI as one of our global partners as we are establishing distribution networks throughout Europe and the US. We now enter into agreements with experienced organizations and with their vast networks they will be great partners when marketing the all-new Ironhand^® on their respective markets."

ITURRI's CEO, Juan Francisco Iturri, indicated his satisfaction with the agreement and the impulse for Occupational Health and Safety: "Around 22 percent of workers in the EU complain about Musculoskeletal Disorders (MSDs), which means an estimated cost for companies between 0.5 and 2 percent of Europe's Gross Domestic Product. ITURRI's commitment to protect people and their environment with innovative, efficient and sustainable solutions to contribute to a safer world led us to work on the research for solutions for MSDs and now, with the Bioservo's Ironhand in our portfolio of exoskeletons, we offer a wider range of solutions to reduce this type of ailment", explained.

Bioservo's Ironhand is the first active exoskeleton that ITURRI incorporates, joined to other passive exoskeletons such as Laevo, SkelEx and Noonee: "Ironhand diversifies and expands our offer of exo-solutions to face MSDs, and strengthens our position in the global market in the four continents in which we have a presence", said Juan Francisco Iturri.

About Ironhand^®
Bioservo's soft robotic muscle strengthening system Ironhand^® comprises a lightweight glove with a portable power pack worn like a backpack. Ironhand^® can add up to 80 N to the wearer's grip within milliseconds. In addition to that, it is equipped with smart data capabilities which makes it possible to digitalize ergonomic risk assessment as well as provide an adaptive performance to the operator over time. At the same time as it supports the wearer, it collects and analyzes data making it possible to evaluate and identify grip intense use cases that run a high ergonomic risk. The wearer is in full control of the system which helps to create a healthy and sustainable work environment.

About ITURRI, SA. Group
The company was founded in 1947 and is a global company headquartered in Seville, Spain with operations in Europe, Africa and South America with a total of about 1050 employees. The CEO of ITURRI is Juan Francisco Iturri Franco, grandson of the founder Juan Iturri Landajo. 

WEBSITE: http://www.iturri.com/

About Bioservo Technologies
Bioservo Technologies (publ) is a technology and development company that combines medical science with modern robotics. The company holds a leading global position within soft exoskeleton technology - wearable non-invasive devices - for people in need of extra power to optimise the body's endurance and performance, or for people with reduced muscle strength.

After many years of research and development, Bioservo Technologies is now focused on a commercialisation of the company's products and patented technologies. The gloves are well-suited to medical rehabilitation, and to preventive use in a variety of industrial applications. The company has signed strategic cooperation agreements with several multinational companies within e.g. the automotive, aviation as well as the construction and infrastructure industry.

Bioservo Technologies was founded in 2006 through a collaboration between researchers at the Royal Institute of Technology and doctors at Karolinska University Hospital in Stockholm. Bioservo Technologies is a Swedish public limited company with its headquarters and operations based in Kista, north of Stockholm. FNCA Sweden AB, +46(0)8-528 00399, [email protected], is the company's Certified Adviser on Nasdaq First North. To learn more, please visit www.bioservo.com.

For more information, please contact:

Petter Bäckgren
CEO
Tel.: +46 (0)8 21 17 10
[email protected]

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SOURCE Bioservo Technologies AB