02 October 2012

Israeli-founded Argo Medical Technologies to open U.S. headquarters in Marlborough, Massachusetts

Boston – 02 October 2012 – Governor Deval Patrick joined ARGO Medical Technologies at the AdvaMed 2012 conference today to announce that Israeli-founded exoskeleton technology leader ARGO has selected Massachusetts as its U.S. headquarters. 

“Massachusetts is a global leader in the life sciences industry because of our strong investment in education and innovation,” said Governor Patrick, who led a trade mission to Israel last spring to further strengthen ties between the innovation industries in Massachusetts and Israel. “I am pleased to welcome ARGO and their remarkable technology to Massachusetts and I look forward to the continued growth of their company as they bring new jobs into the Commonwealth.” 

ARGO Medical Technologies’ product the ReWalk is an exoskeleton suit that enables persons with lower limb disabilities such as paraplegia to stand and walk independently without assistance. The company’s founder, Dr. Amit Goffer, is a person with quadriplegia who was inspired to invent the exoskeleton device because of his own personal story. ARGO was founded in Israel, but has grown internationally. Along with its Massachusetts headquarters, it now has centers in Germany and Israel. The new Massachusetts headquarters, which the company expects to house up to 40 employees, will be located in Marlborough. 

“As ARGO expands from a research and development firm to an international leader in commercial exoskeleton technology, we have selected Massachusetts with its strong commitment to the life sciences industry as our U.S. headquarters,” said Larry Jasinski, CEO of ARGO Medical Technologies. “The ReWalk is a cutting edge device that will revolutionize the mobility industry and we are committed to making this technology commercially available to anyone who wants one here in the U.S. and around the world.” 

“ARGO’s technology is truly life-changing,” said Susan Windham-Bannister, Ph.D., President & CEO of the Massachusetts Life Sciences Center, the agency charged with implementing Governor Patrick’s Life Sciences Initiative. “Millions of people with neurodegenerative diseases and spinal cord injuries, including many of our returning veterans, have been waiting for this kind of breakthrough technology. We are proud to welcome ARGO to the Massachusetts life sciences community.” 

The ReWalk is currently available in the U.S. at rehabilitation centers and is awaiting FDA clearance for personal use. In Europe it is also being used in rehabilitation facilities, and ARGO has recently announced its commercial availability to take home for personal use throughout the European Union. 

Governor Patrick strengthened Massachusetts’ global leadership in life sciences in 2008 by signing a 10-year, $1 billion life sciences investment package. Over the last four years, the Commonwealth has invested more than $300 million in the industry, leveraging more than $938 million in third-party investments and creating thousands of jobs in both construction and in the life sciences. 

The Life Sciences Initiative melds all of the state’s key resources in order to spur research, investment, innovation and commercialization. Now the life sciences industry in Massachusetts is thriving, with more than 52 percent job growth in the biopharma sector since 2001 and more than 80,000 employees working in the life sciences. 

Source: The Governor of Massachusetts Website