Lifeward, previously ReWalk Robotics, presents 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 right now, the corporate’s shares start buying and selling below 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-Go well with, 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 gives “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 revolutionary options just like the AlterG Anti-Gravity programs to our portfolio, we’ve got surpassed the imaginative and prescient of our unique identify,” said Larry Jasinski, CEO of Lifeward. “The transformation of ReWalk Robotics into Lifeward speaks to the broader objective of the corporate to be the driving pressure 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 group now represents the firm‘s full portfolio.
“We consider this may enable us to drive progress for our enterprise by way of higher assist of our prospects throughout the rehabilitation spectrum,” he stated. “We have now a portfolio of revolutionary options designed to help people in reaching their targets by way of improved useful and well being outcomes – within the clinic in addition to in the neighborhood.”
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 would enable folks to realize sooner entry to programs like Lifeward’s. The rule was finalized in November and went into impact in the beginning of 2024.
In it, CMS stated the exoskeleton modifications can expedite protection and cost for newer know-how and powered units. Specifically, it might assist these with disabilities related to muscular and/or neural situations.
Editor’s notice: This text was syndicated from MassDevice, a sibling web site to The Robotic Report.