Rehabilitation Robotics Leader ReWalk Robotics Changes Name to Lifeward, Enters Health Care Market

ReWalk Robotics (NASDAQ: RWLK), the world's leading rehabilitation robotics company, recently announced that it will change its name to "Lifeward" and, effective January 30, 2024, its trading symbol on the NASDAQ market will change to " LFWD". This transition is more than just a name change; it represents the company's deeper understanding of rehabilitation solutions and its new strategic positioning.

With the acquisition of AlterG last August, Lifeward's product line has expanded to include the ReWalk personal exoskeleton, the ReStore exoskeleton mobility aid, the MyoCycle FES cycling system, and the Anti-Gravity System for physical and neurological rehabilitation. These innovative solutions are designed to help individuals achieve their goals through improved function and health outcomes in both clinical and community settings.

Larry Jasinski, CEO of Lifeward, said that by adding innovative solutions such as the AlterG Anti-Gravity System, the company has moved beyond the vision of the original brand. This transformation reflects the company's goal of becoming a leader in overcoming physical mobility limitations and disabilities, elevating the standard of care, and empowering individual athleticism.

Lifeward's transformation did not happen overnight, but was prepared over months and even years. Key drivers included an aggressive financing strategy early in the epidemic, strategic acquisitions, and a favorable reimbursement rule change by the Centers for Medicare and Medicaid Services (CMS) for its exoskeleton technology. Together, these steps propelled the company forward, paving the way for innovation and expansion within the rehabilitation space.

The acquisition of AlterG in particular is a game changer. By acquiring AlterG for $19 million, Lifeward not only expands its customer service capabilities, but also opens new doors for future growth opportunities. AlterG's anti-gravity treadmills use patented, NASA-derived differential air pressure technology to mitigate the effects of gravity, allowing people to move in new ways, providing finely calibrated support and reducing pain.

The CMS rule change, which provides Lifeward with an accelerated pathway to coverage and payment for new technologies like the ReWalk personal exoskeleton, may allow new technologies made by companies like ReWalk and Myomo to gain patient acceptance more quickly. This rule makes a clear pathway clear: reimbursement by Medicare, the U.S. health insurance, in the form of a lump-sum payment.

LIFEWARD, Inc.

Lifeward, formerly ReWalk Robotics Ltd. is now in the business of providing rehabilitation services to individuals, people with disabilities, and other people with limited mobility under the name Lifeward (NASDAQ: LFWD). Lifeward operates in the U.S., Israel, and Germany. Products include the ReWalk exoskeleton, the ReStore exoskeleton mobility aid, the MyoCycle FES bike, and the latest addition, the AlterG anti-gravity system.