Lifeward, previously ReWalk Robotics, gives a portfolio of exoskeletons for these with spinal twine 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 as we speak, the corporate’s shares start buying and selling underneath the “LFWD” ticker on the Nasdaq Inventory Market.
Lifeward has developed wearable programs for rehabilitation, restoration, and extra to deal with bodily limitations or incapacity. Its choices embody the ReWalk Private Exoskeleton, ReStore Exo-Swimsuit, and MyoCycle FES programs.
Based in 2001, the firm has places of work 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 offers “anti-gravity” programs to be used in bodily and neurological rehabilitation. The transaction added its present and future product strains to ReWalk’s portfolio of neurorehabilitation merchandise.
Lifeward additionally stated it expects AlterG to considerably broaden its customer-facing capabilities and advance future progress alternatives.
“With the latest addition of progressive options just like the AlterG Anti-Gravity programs to our portfolio, we’ve surpassed the imaginative and prescient of our unique identify,” 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 drive 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 industrial crew now represents the firm‘s full portfolio.
“We imagine it will enable us to drive progress for our enterprise by way of higher help of our clients throughout the rehabilitation spectrum,” he stated. “Now we have a portfolio of progressive options designed to help people in attaining their objectives by way of 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 Companies (CMS) finalized a rule benefitting its exoskeleton know-how.
Earlier in 2023, CMS launched a proposal to ascertain a brand new regulatory definition of “brace” that might enable folks to achieve sooner entry to programs like Lifeward’s. The rule was finalized in November and went into impact firstly of 2024.
In it, CMS stated the exoskeleton adjustments can expedite protection and cost for newer know-how and powered units. Particularly, it may assist these with disabilities related to muscular and/or neural situations.
Editor’s observe: This text was syndicated from MassDevice, a sibling website to The Robotic Report.