ReWalk Robotics Achieves Milestone of 100 Personal Systems Sold
Leading Exoskeleton Manufacturer Establishes Global Footprint Across North America, EU, Asia & Pacific
YOKNEAM ILIT, Israel and MARLBOROUGH, MA – ReWalk Robotics Ltd. (Nasdaq: RWLK) (“ReWalk” or the “Company”), the leading global exoskeleton developer and manufacturer, today announced that the Company sold its 100th personal system this summer, a major milestone indicating growing adoption of personal use of exoskeletons. The Company has also sold more than 150 systems to rehabilitation centers, which are certified by the ReWalk Worldwide Training Standards that train patients for home and community use, and are key to enabling the growth of personal unit sales.
The ReWalk Personal Systems cover a diverse set of end users and geographies. The Company has placed systems across North America, Europe, Asia, Australia, and New Zealand—spanning more than a dozen countries in total. ReWalk Personal systems are being utilized in the homes and communities of law enforcement officers, veterans of the U.S. and other national armed forces, and men and women across a host of professions spanning all ages, races and ethnicities.
“This milestone symbolizes a new era for ReWalk. More public and private insurers are willing to procure and reimburse systems, the technology is evolving at a rapid pace, and there is a growing wealth of clinical evidence outlining the benefits of the technology to the health and well-being of the user,” said ReWalk Robotics CEO Larry Jasinski. “We are proud to have passed the 100 personal system mark and continue to work diligently to provide this technology to all eligible users.”
“My neurologist told me almost nine years ago that I would never walk again after a debilitating spinal stroke paralyzed me from the waist down,” said Rick Batty, a Madison, WI ReWalker. “From that moment on, my mission in life was to stand and walk again — and ReWalk made that happen. The technology also helped me achieve a dramatic turnaround in my everyday health, increasing my upper-body strength and flexibility, and I continue to experience improvements with regular use.”
The ReWalk Robotics Personal 6.0 is a wearable robotic exoskeleton that provides powered hip and knee motion to enable individuals with spinal cord injury to stand upright and walk. ReWalk is the first exoskeleton system to receive FDA clearance for use in the home as well as in the rehabilitation setting.
For more information, please visit: www.rewalk.com
About ReWalk Robotics Ltd.
ReWalk Robotics Ltd. develops, manufactures and markets wearable robotic exoskeletons for individuals with spinal cord injury. Our mission is to fundamentally change the quality of life for individuals with lower limb disability through the creation and development of market leading robotic technologies. Founded in 2001, ReWalk has headquarters in the U.S., Israel and Germany. For more information on the ReWalk systems, please visit www.rewalk.com.
ReWalk® is a registered trademark of ReWalk Robotics Ltd. in Israel.
Forward Looking Statements
In addition to historical information, this press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, and Section 21E of the U.S. Securities Exchange Act of 1934. Such forward-looking statements may include projections regarding ReWalk’s future performance and, in some cases, may be identified by words like “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek” and similar terms or phrases. The forward-looking statements contained in this press release are based on management’s current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of ReWalk’s control. Important factors that could cause ReWalk’s actual results to differ materially from those indicated in the forward-looking statements include, among others: ReWalk’s expectations regarding future growth, including its ability to increase sales in its existing geographic markets and to expand to new markets; ReWalk’s ability to maintain and grow its reputation and to achieve and maintain market acceptance of its products; ReWalk’s ability to achieve reimbursement from third-party payors for its products; ReWalk’s expectations as to its clinical research program and clinical results; ReWalk’s ability to improve its products, develop new products; ReWalk’s ability to maintain adequate protection of its intellectual property and to avoid violation of the intellectual property rights of others; ReWalk’s ability to repay its secured indebtedness; ReWalk’s ability to gain and maintain regulatory approvals; ReWalk’s ability to maintain relationships with existing customers and develop relationships with new customers; and other factors discussed under the heading “Risk Factors” in ReWalk’s Annual Report on Form 10-K for the year ended December 31, 2015 filed with the U.S. Securities and Exchange Commission on February 29, 2016 and other documents subsequently filed with or furnished to the U.S. Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date hereof. Factors or events that could cause ReWalk’s actual results to differ from the statements contained herein may emerge from time to time, and it is not possible for ReWalk to predict all of them. Except as required by law, ReWalk undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.
1 The period to file an appeal of the Social Welfare Court’s decision has not yet expired.
Investor Relations Contact:
Lisa M. Wilson
In-Site Communications, Inc.
Date: September 7, 2016