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ReWalk Robotics yesterday unveiled new corporate branding to officially begin operating as “Lifeward.” Beginning today, the company’s shares begin trading under the “LFWD” ticker on the Nasdaq Stock Market.
Lifeward has developed wearable systems for rehabilitation, recovery, and more to address physical limitations or disability. Its offerings include the ReWalk Personal Exoskeleton, ReStore Exo-Suit, and MyoCycle FES systems.
Founded in 2001, the company has offices 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 provides “anti-gravity” systems for use in physical and neurological rehabilitation. The transaction added its current and future product lines to ReWalk’s portfolio of neurorehabilitation products.
Lifeward also said it expects AlterG to significantly expand its customer-facing capabilities and advance future growth opportunities.
“With the recent addition of innovative solutions like the AlterG Anti-Gravity systems to our portfolio, we have surpassed the vision of our original name,” stated Larry Jasinski, CEO of Lifeward. “The transformation of ReWalk Robotics into Lifeward speaks to the broader goal of the company to be the driving force to elevate the standard of care in overcoming physical limitations and disabilities to empower individuals to do what they love.”
Chief Sales Officer Charles Remsberg added that the newly combined commercial team now represents the company‘s full portfolio.
“We believe this will allow us to drive growth for our business through better support of our customers across the rehabilitation spectrum,” he said. “We have a portfolio of innovative solutions designed to assist individuals in achieving their goals through improved functional and health outcomes – in the clinic as well as in the community.”
ReWalk solidified Medicare coverage
Earlier in 2023, CMS released a proposal to establish a new regulatory definition of “brace” that could allow people to gain faster access to systems like Lifeward’s. The rule was finalized in November and went into effect at the beginning of 2024.
In it, CMS said the exoskeleton changes can expedite coverage and payment for newer technology and powered devices. In particular, it could help those with disabilities associated with muscular and/or neural conditions.
Editor’s note: This article was syndicated from MassDevice, a sibling site to The Robot Report.