Foley Advises Hanger Ventures on Inaugural Investment in Bionic Power

Foley & Lardner LLP represented Hanger Ventures, a subsidiary of Hanger, Inc. focused on advancing orthotics and prosthetics innovation and improving patient outcomes, in its inaugural investment in Bionic Power, a Canadian developer of advanced lower-body smart orthotic devices. Bionic Power is raising Series A funding, with Hanger Ventures as the lead investor.

Bionic Power’s devices are designed to enhance walking abilities for individuals with neuromuscular diseases and conditions, such as cerebral palsy, spina bifida, and stroke. The collaboration provides Bionic Power with financial funding and services for product development, clinical trials, and go-to-market support.

Hanger Ventures is committed to investing in entrepreneurs and small businesses that drive clinical and technological advancements in orthotics and prosthetics, focusing on accelerating innovation and improving patient outcomes globally.

The Foley team was led by partner Joe Derrigo and senior counsel Sarah Field. The firm has represented Hanger across a wide array of corporate, intellectual property, and litigation matters since the 1980s, with David Sanders and Tory Matese serving as primary relationship partners.