ReWalk Robotics Announces French Distribution Agreement with Harmonie Médical Service
MARLBOROUGH, MA / YOKNEAM ILIT, ISRAEL—July 11, 2017 — ReWalk Robotics Ltd. (NASDAQ: RWLK) (“ReWalk” or the “Company”), a leading manufacturer of exoskeleton systems, announced today that the Company has signed a new, exclusive distribution agreement in France with Harmonie Médical Service (HMS). Through the agreement, HMS will serve as the sole distributor of ReWalk exoskeleton systems to qualifying candidates with spinal cord injury (SCI) across France. HMS, one of the largest medical device providers in the country, will be able to distribute both ReWalk Personal systems for use in the home and community and ReWalk Rehabilitation systems in clinical rehabilitation settings of providers working with individuals with SCI.
“The partnership with HMS provides an ideal structure to allow paralyzed individuals throughout France the ability to walk again,” said Jodi Gricci, Chief Commercial Officer of ReWalk Robotics. “Starting in 2011, Dr. Jacques Kerdraon at Kerpape demonstrated leadership and built data to show the value of this technology. As the product is now available for everyday use at home and in the community, HMS provides the resources, support structure and quality as a leading provider of products for injured individuals.”
“Our partnership with ReWalk is a real opportunity for HMS,” said Sébastien Chamereau, Head of Disability Activity for Harmonie Médical Service. “We have been working for 30 years in the medical materials domain with people who have lost their mobility. We have always looked for innovative technologies in this domain, especially with the arrival of the first stand-up wheelchairs and, later, intelligent control systems. Our goal is to provide maximum autonomy to our customers in their everyday lives. The ReWalk 6.0 offers new medical and social opportunities to individuals with spinal cord injury. In signing this exclusive distribution contract with ReWalk, HMS will foster the arrival of this new technology throughout France. It is when I saw sparkles in the eyes and a large smile on the face of a young paraplegic man using a ReWalk system that I knew why I really wanted to provide this product in France.”
Established in 1789, HMS is a renowned health service provider in France, with branches throughout the country and more than 500 employees. The distribution agreement with ReWalk will apply to all of the HMS offices across France.
About Harmonie Médical Service
Harmony Medical Service is a family-owned health service provider founded in 1789. The firm joined the mutual Harmony network in 1997, and now includes more than 64 agencies and 45 departments spread throughout the French territory. The company offers a wide range of products for sale and rent in different areas, including disability and mobility, medical equipment, comfort items, technical aids for home care, community health facilities, orthopedics, physiotherapy and management vehicles. For more information visit www.harmonie-medical-service.fr
About ReWalk Robotics Ltd.
ReWalk Robotics Ltd. develops, manufactures and markets wearable robotic exoskeletons for individuals with spinal cord injury. ReWalk’s 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.
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,” “should,” “would,” “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, expand to new markets and achieve its planned expense reductions; the conclusion of ReWalk’s management for the financial statements for fiscal 2016 and the first quarter of 2017, and the opinion of ReWalk’s auditors in their report on the Company’s financial statements for fiscal 2016, that there are substantial doubts as to ReWalk’s ability to continue as a going concern; ReWalk’s ability to maintain and grow its reputation and the 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 expectations as to the results of, and the Food and Drug Administration’s potential regulatory developments with respect to, ReWalk’s mandatory post-market 522 surveillance study; the outcome of ongoing shareholder class action litigation relating to ReWalk’s initial public offering; ReWalk’s ability to repay its secured indebtedness; ReWalk’s ability to improve its products and 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 gain and maintain regulatory approvals; ReWalk’s ability to secure capital from its at-the-market equity distribution program based on the price range of its ordinary shares and conditions in the financial markets; ReWalk’s ability to use effectively the proceeds of its 2016 follow-on offering; 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, 2016, as amended, filed with the U.S. Securities and Exchange Commission 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.
ReWalk Investor Contact:
Lisa M. Wilson
In-Site Communications, Inc.
ReWalk Media Contact:
Harmonie Médical Service Contact:
T: 05 49 00 48 99
Date: July 11, 2017