We discuss the possibility in principle of stripping extraction in combination with reverse bends in isochronous separate-sector cyclotrons (and/or fixed field alternating gradient accelerators). If one uses reverse bends between the sectors (instead of or in combination with drifts) and places stripper foils at the sector exit edges, the stripped beam has a reduced bending radius and it should be able to leave the cyclotron within the range of the valley - even if the beam is stripped at less than full energy. We are especially interested in stripping of H₂⁺, as it doubles the charge to mass ratio of the ions. However the method could be applied to other ions or ionized molecules as well. For the production of proton beams by stripping extraction of an H₂⁺ beam, we discuss possible designs for three types of machines: First, a low-energy cyclotron for the simultaneous production of several beams at multiple energies - for instance 15, 30, and 70 MeV - thus allowing beam delivery on several isotope production targets. In this case it can be an advantage to have a strong energy dependence of the direction of the extracted beam. Second, we consider a fast variable-energy proton machine for cancer therapy that should allow extraction (of the complete beam) at all energies in the range of about 70 MeV to about 250 MeV into the same beam line. Third, we consider a high-intensity high-energy machine, where the main design goals are extraction with low losses, low activation of components, and high reliability. Especially if such a machine is considered for an accelerator driven system (ADS), this extraction mechanism has advantages: Beam trips by the failure of electrostatic elements could be avoided and the turn separation would be less critical, which allows operation at lower main cavity voltages. This would in turn reduce the number of rf trips. The price that has to be paid for these advantages is an increase in size and/or field strength compared to proton machines with standard extraction at the final energy.