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Myomo and Elevance Health Agree to Contract for Multi-State Network Participation

Key Takeaway: Myomo, Inc. has announced a contract with Elevance Health to participate in a multi-state network. This agreement will include Anthem-affiliated plans and is expected to roll out market-by-market through Q2 2026. The deal will increase Myomo's covered lives to over 80 million, enhancing its market presence.
Price reaction · baseline $0.8107 (2026-03-09T16:13:00.000Z) · hit during market hours · clean, no other MYO news in the window
day 0 close · peak
+0.1%

Market Sentiment Analysis

POSITIVE FACTORS

  • Myomo has secured a contract with Elevance Health.
  • The agreement will significantly expand Myomo's market reach.
  • Over 80 million lives will be covered under commercial insurance plans.

Full Press Release Details

BURLINGTON, Mass. (March 9, 2026) – Myomo, Inc. (NYSE American: MYO) (“Myomo” or the “Company”), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, announced today it has entered into its first among a series of expected network participation agreements with Elevance Health. The contracts, which include the Anthem-affiliated Commercial, Medicare Advantage, and Medicaid plans are expected to become effective on a market-by-market basis through the second quarter of 2026. Once complete, the addition of these 45 million medical members will bring Myomo’s total number of covered lives under commercial insurance plans to over 80 million. Read more.

Frequently Asked Questions

What is the significance of Myomo's contract with Elevance Health?

The contract will significantly expand Myomo's market reach, covering over 80 million lives.

When will the Elevance Health contracts become effective?

The contracts are expected to become effective market-by-market through the second quarter of 2026.

Which plans are included in the Myomo and Elevance Health agreement?

The agreement includes Anthem-affiliated Commercial, Medicare Advantage, and Medicaid plans.

How many medical members will Myomo's coverage increase to?

Myomo's total number of covered lives will increase to over 80 million.

Last updated: Mar 9, 2026