Lifeward, previously ReWalk Robotics, gives a portfolio of exoskeletons for these with spinal wire accidents, mind accidents, a number of sclerosis, and extra. | Supply: Lifeward
ReWalk Robotics yesterday unveiled new company branding to formally start working as “Lifeward.” Starting in the present day, the corporate’s shares start buying and selling below the “LFWD” ticker on the Nasdaq Inventory Market.
Lifeward has developed wearable methods for rehabilitation, restoration, and extra to handle bodily limitations or incapacity. Its choices embrace the ReWalk Private Exoskeleton, ReStore Exo-Swimsuit, and MyoCycle FES methods.
Based in 2001, the firm has workplaces in Marlborough, Mass.; Berlin; and Yokneam Illit, Israel.
Lifeward pivots following AlterG acquisition
The branding change follows the August acquisition of AlterG. Fremont, Calif.-based AlterG supplies “anti-gravity” methods to be used in bodily and neurological rehabilitation. The transaction added its present and future product traces to ReWalk’s portfolio of neurorehabilitation merchandise.
Lifeward additionally mentioned it expects AlterG to considerably increase its customer-facing capabilities and advance future progress alternatives.
“With the current addition of modern options just like the AlterG Anti-Gravity methods to our portfolio, we’ve got surpassed the imaginative and prescient of our unique title,” acknowledged Larry Jasinski, CEO of Lifeward. “The transformation of ReWalk Robotics into Lifeward speaks to the broader objective of the corporate to be the driving power to raise the usual of care in overcoming bodily limitations and disabilities to empower people to do what they love.”
Chief Gross sales Officer Charles Remsberg added that the newly mixed business workforce now represents the firm‘s full portfolio.
“We imagine this can permit us to drive progress for our enterprise by higher assist of our clients throughout the rehabilitation spectrum,” he mentioned. “We now have a portfolio of modern options designed to help people in attaining their targets by improved useful and well being outcomes – within the clinic in addition to locally.”
ReWalk solidified Medicare protection
In November 2023, then-ReWalk Robotics introduced that the Facilities for Medicare & Medicaid Providers (CMS) finalized a rule benefitting its exoskeleton expertise.
Earlier in 2023, CMS launched a proposal to determine a brand new regulatory definition of “brace” that might permit folks to achieve sooner entry to methods like Lifeward’s. The rule was finalized in November and went into impact at the start of 2024.
In it, CMS mentioned the exoskeleton adjustments can expedite protection and fee for newer expertise and powered units. Particularly, it might assist these with disabilities related to muscular and/or neural situations.
Editor’s be aware: This text was syndicated from MassDevice, a sibling website to The Robotic Report.
