Initiation: The Robotic physiotherapist
Rex Bionics is a pioneer in the field of medical exoskeletons. It is focused on rehabilitating and improvement in the mobility of patients with spinal cord injury. Its two key markets are rehabilitation centres and home use. Fourteen devices are currently in use, but clinical trials demonstrating the medical benefits to patients and commercial benefits to rehab centres has recently been initiated; with promising data from the first trial. A reverse DCF implies growth in sales to only 207 units by 2020 is required to justify the current share price, and the market therefore appears to be applying a significant discount for the uncertainty of success. Evidence of medical benefit from the clinical trials will be a key catalyst for upside.
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