Bioservo signs another strategic distribution agreement for selling the all-new Ironhand® in the US

Bioservo signs another strategic distribution agreement for selling the all-new Ironhand® in the US

Bioservo Technologies AB (publ) (Nasdaq First North: BIOS) has entered a distribution agreement for selling the all-new Ironhand® with Rhino Assembly Ltd. for the US market. Rhino Assembly’s mission is to identify and deliver the world’s most innovative assembly solutions reflective of Industry 4.0 and beyond to their customers with focus on building better quality product while maintaining a safe environment for their workers. Rhino Assembly is a well-known partner to the local automotive industry with over 30 years’ experience and therefore a great partner for Bioservo in the US. Rhino Assembly works with customers like Ford, BMW USA, Boeing, Caterpillar and many others in the automotive, aerospace, agriculture and general industry manufacturing sectors.

Petter Bäckgren, CEO Bioservo, commented: "We are delighted to add Rhino Assembly to our global partner network as we are establishing distribution throughout Europe and the US. We now enter into agreements with experienced organizations that with the help of their vast networks will be great partners when marketing the all-new Ironhand® on their respective markets.”

Dan Brooks, CEO Rhino Assembly, commented: “It is the mission of Rhino Assembly to assist customers with ergonomics and productivity in the workplace.  With the addition of Bioservo’s Ironhand®, we have a solution to alleviate worker fatigue and injury without replacing human input from the process.”

Discussions are ongoing with distributors for additional markets and additional agreements are expected during 2019.

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 Rhino Assembly

Rhino Assembly is a company within the Rhino Tool House family of brands.    Rhino Tool House is a versatile organization that has the capability to both service and manage your project needs.  With an eye to the future and a service minded approach, we focus on developing a deeper understanding of our customers’ needs and building strong partnerships with our suppliers.  This focus has allowed us to continuously educate our team on the latest innovative technologies while being able to match manufacturing and industry 4.0 solutions to the exact needs of our customers.

Vision Statement

In a highly dynamic world, we exist to revolutionize your process.  Through our culture, we will create strategic partnerships with our employees, customers, and stakeholders.

Mission Statement

Identify and deliver the world’s most innovative assembly solutions. We provide superior service, local expertise, and a high degree of responsiveness to empower our customers to be more productive, build a better-quality product, and maintain a safe environment for their workers.

Certifications:

ISO 9001:2015

ISO 14001:2015

ISO 17025: 2005, 2017 Accredited Service Centers

Websites:

www.rhinotoolhouse.com

www.rhinoassembly.com

Media contacts:

Michelle Fontana                                                         

Southern Division Marketing Manager

704.395.2100 ext. 3427                              

Steven Vogt

Northern Division Marketing Manager

262.796.1100 ext. 4191

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, info@fnca.se, 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

petter.backgren@bioservo.com

Anett Grusser-Pettersson

International Business Development

Tel.: +46 (0)8 21 17 10

anett.pettersson@bioservo.com

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