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Lifeward to Report Fourth Quarter and Fiscal Year-End 2024 Financial Results on March 7, 2025
Globenewswire· 2025-02-28 13:00
Core Insights - Lifeward Ltd. will release its fourth quarter and fiscal year-end financial results on March 7, 2025, before market opening [1] - The conference call to discuss the financial results will be hosted by CEO Larry Jasinski and CFO Mike Lawless at 8:30 a.m. EST [2] - Lifeward is a leader in innovative medical technology aimed at transforming the lives of individuals with physical limitations or disabilities [3] Company Overview - Lifeward designs, develops, and commercializes solutions for physical rehabilitation and recovery, providing health benefits in clinical and home settings [3] - The company's mission focuses on driving innovation to empower individuals with physical limitations [3] - Lifeward's product portfolio includes the ReWalk Exoskeleton, AlterG Anti-Gravity system, ReStore Exo-Suit, and MyoCycle FES System [3] Company Background - Founded in 2001, Lifeward operates in the United States, Israel, and Germany [4] - The company is committed to delivering groundbreaking solutions for rehabilitation and recovery [3][4]
Lifeward Announces CEO Transition
Newsfilter· 2025-02-19 14:10
Core Points - Lifeward Ltd. announces the retirement of CEO Larry Jasinski after 13 years, with a transition period extending through Q2 2025 [1][4] - The company has initiated a search for a new CEO, considering both internal and external candidates [2] - Lifeward expects to report approximately $25.7 million in revenue for the year ended December 31, 2024, within its guidance range of $25 million to $26 million [3] - The company anticipates annual GAAP operating expenses of about $33.4 million, including $5.7 million in restructuring and impairment expenses [3] - A virtual investor event originally scheduled for February 20, 2025, will be rescheduled to later in 2025 following the appointment of the new CEO [3] Company Overview - Lifeward is a global leader in innovative medical technology aimed at transforming the lives of individuals with physical limitations or disabilities [1][5] - The company’s product portfolio includes the ReWalk Exoskeleton, AlterG Anti-Gravity System, MyoCycle FES System, and ReStore Exo-Suit, which are designed to provide functional and health benefits in rehabilitation [5] - Founded in 2001, Lifeward operates in the United States, Israel, and Germany, focusing on delivering groundbreaking solutions for physical rehabilitation [5]
Lifeward Finalizes Personal Exoskeleton Reimbursement Agreement with BARMER, Adding 8.5 Million Covered Lives in Germany
Newsfilter· 2025-02-05 13:00
Core Insights - Lifeward has signed a contractual agreement with BARMER, Germany's second largest statutory health insurance company, to streamline access to ReWalk Personal Exoskeletons for eligible beneficiaries [1][2] - Approximately 45% of individuals with Statutory Health Insurance in Germany now have coverage policies that include a defined reimbursement process for personal exoskeletons [1] - BARMER has over 8.5 million insured beneficiaries and has already provided 20 ReWalk Personal Exoskeletons, establishing itself as the leading insurer in Germany for this technology [2] Company Overview - Lifeward is a global leader in innovative medical technology aimed at transforming the lives of individuals with physical limitations or disabilities [1][4] - The company designs, develops, and commercializes solutions that span the continuum of care in physical rehabilitation and recovery [4] - Lifeward's product portfolio includes the ReWalk Exoskeleton, AlterG Anti-Gravity System, MyoCycle FES System, and ReStore Exo-Suit [4] Industry Context - The agreement with BARMER is expected to set a precedent for further expansion of insurance coverage for exoskeletons in Germany and globally [2] - There has been an acceleration in reimbursement policies for exoskeletons, with notable developments in the U.S. and Hungary [2] - The contractual agreement aims to establish sustainable structures in the supply of exoskeletons, ensuring high-quality standards for policyholders [3]
Lifeward to Host Virtual Investor Event to Discuss Commercial Strategy, Key Initiatives, and Financial Outlook on February 20, 2025
Newsfilter· 2025-02-04 13:00
Core Viewpoint - Lifeward Ltd. is hosting a virtual Investor Event on February 20, 2025, to discuss its strategy, key initiatives, and financial outlook, showcasing its innovative medical technology products [1][3]. Company Overview - Lifeward is a global leader in innovative medical technology aimed at transforming the lives of individuals with physical limitations or disabilities [1][4]. - The company designs, develops, and commercializes solutions that span the continuum of care in physical rehabilitation and recovery, delivering functional and health benefits in clinical settings and at home [4]. Product Highlights - The event will feature key products from Lifeward's portfolio, including: - The ReWalk Exoskeleton, which addresses unmet medical needs for individuals with spinal cord injuries [2]. - The AlterG Anti-Gravity System, recognized as the standard of care for rehabilitation of various orthopedic and neurological conditions [2][4]. - Other innovative products include the MyoCycle FES System and the ReStore Exo-Suit [4]. Event Details - The Investor Event will be accessible via a live webcast for investors, analysts, media, and other interested parties, with a replay available on Lifeward's Investor Relations website [3].
Lifeward CEO Issues Year-End 2024 Open Letter to Shareholders and Provides 2025 Commercial and Operational Priorities
Newsfilter· 2025-01-13 13:30
Company Overview - Lifeward designs, develops, and commercializes life-changing solutions for physical rehabilitation and recovery, including products like the ReWalk Exoskeleton, AlterG Anti-Gravity System, MyoCycle FES System, and ReStore Exo-Suit [6] - The company was founded in 2001 and operates in the United States, Israel, and Germany [7] - Lifeward's mission is to drive innovation to change the lives of individuals with physical limitations or disabilities [2] 2024 Achievements - Achieved a defined Exoskeleton category as an orthotic brace classified for lump sum payment with CMS, a significant industry milestone [3] - Delivered over 70 new ReWalk systems in 2024, more than double the prior year's total [5] - Established a pipeline of approximately 100 qualified users for future ReWalk submissions [5] - Successfully launched the NEO and NEO+ additions to the AlterG product line, expanding market penetration [5] - Completed operational consolidation of AlterG, including the closure of the Fremont facility, expected to reduce overhead and operating costs [5] - Recovered from initial headwinds in the U.S. capital equipment market, with over 140 AlterG units placed in Q4 2024, up 90% sequentially [5] 2025 Objectives - Focus on driving Exoskeleton adoption through digital marketing, building relationships with key centers, streamlining patient experience, and expanding physician education [5] - Expand AlterG penetration to national chains and international distributors with the new NEO and NEO+ offerings [5] - Complete FDA and CE clearance for ReWalk 7 in the first half of 2025, featuring cloud connectivity, multiple walking speeds, crutch-based control, and improved batteries [5] - Aim to achieve non-GAAP operating profitability by the second half of 2026 [4] - Hold an investor event in New York City on February 20, 2025, to provide more in-depth information and interaction [6] Financial Highlights - Preliminary 2024 financial results met revised revenue guidance [4] - Successfully raised $5 million in additional capital in early 2025 to support Exoskeleton and AlterG awareness, adoption, and liquidity [4] - Financial priorities include driving efficient, sustainable growth, increasing margins, and reducing expenses [5]
Lifeward Cancels Its Extraordinary General Meeting of Shareholders
Globenewswire· 2025-01-13 12:45
Company Announcement - Lifeward Ltd has cancelled its previously announced Extraordinary General Meeting of Shareholders scheduled for January 13, 2025 [1] - The Board of Directors has withdrawn the proposals set forth in the Definitive Proxy Statement filed on November 25, 2024 [1] - The Board intends to present these proposals at a subsequent meeting in 2025 [1] Company Overview - Lifeward designs, develops, and commercializes life-changing solutions in physical rehabilitation and recovery [2] - The company's mission is to drive innovation to change the lives of individuals with physical limitations or disabilities [2] - Lifeward's product portfolio includes the ReWalk Exoskeleton, AlterG Anti-Gravity System, MyoCycle FES System, and ReStore Exo-Suit [2] Company Operations - Lifeward was founded in 2001 and has operations in the United States, Israel, and Germany [3] - Lifeward, ReWalk, ReStore, and AlterG are registered trademarks of Lifeward Ltd and/or its affiliates [3]
Lifeward Announces Closing of $5 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
Globenewswire· 2025-01-08 21:15
Company Overview - Lifeward Ltd is a global market leader in delivering life-changing solutions for rehabilitation, recovery, and enabling individuals with physical limitations or disabilities to pursue their passions [1] - The company designs, develops, and commercializes innovative products across the continuum of care in physical rehabilitation and recovery, including the ReWalk Exoskeleton, AlterG Anti-Gravity System, MyoCycle FES System, and ReStore Exo-Suit [6] - Founded in 2001, Lifeward has operations in the United States, Israel, and Germany [7] Capital Raising Activities - Lifeward closed a registered direct offering of 1,818,183 ordinary shares at $2.75 per share, raising approximately $5.0 million in gross proceeds [1][2] - In a concurrent private placement, the company issued unregistered short-term warrants to purchase up to 1,818,183 ordinary shares, with a three-year term, immediate exercisability, and an exercise price of $2.75 per share [1] - H C Wainwright & Co acted as the exclusive placement agent for the offering [2] - The net proceeds will be used for continuing commercial efforts, working capital, and general corporate purposes [2] Regulatory and Legal Information - The ordinary shares were offered pursuant to a shelf registration statement on Form S-3 (Registration No 333-263984) previously filed with and declared effective by the SEC [3] - The warrants and underlying ordinary shares were issued in a private placement under Section 4(a)(2) of the Securities Act and Regulation D, and are not registered under the Securities Act or applicable state securities laws [4] Business Strategy and Mission - Lifeward's mission is to relentlessly drive innovation to change the lives of individuals with physical limitations or disabilities [6] - The company is committed to delivering groundbreaking solutions that empower individuals to do what they love [6] - Lifeward's products deliver proven functional and health benefits in clinical settings as well as in the home and community [6]
Lifeward Announces $5 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
Globenewswire· 2025-01-07 13:05
Company Overview - Lifeward Ltd is a global market leader in delivering life-changing solutions for rehabilitation, recovery, and enabling individuals with physical limitations or disabilities to pursue their passions [1] - The company designs, develops, and commercializes innovative products across the continuum of care in physical rehabilitation and recovery, including the ReWalk Exoskeleton, AlterG Anti-Gravity System, MyoCycle FES System, and ReStore Exo-Suit [6] - Founded in 2001, Lifeward has operations in the United States, Israel, and Germany [7] Capital Raising Activities - Lifeward has entered into a definitive agreement for a registered direct offering of 1,818,183 ordinary shares at $2.75 per share, with expected gross proceeds of approximately $5.0 million [1][2] - Concurrently, the company will issue unregistered short-term warrants to purchase up to 1,818,183 ordinary shares, exercisable immediately at $2.75 per share for a term of three years [1] - The offering is expected to close on or about January 8, 2025, subject to customary closing conditions [1] - H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering [2] Use of Proceeds - The net proceeds from the offering will be used for continuing commercial efforts, working capital, and general corporate purposes [2] Regulatory and Legal Information - The ordinary shares are being offered pursuant to a shelf registration statement on Form S-3 (Registration No. 333-263984) previously filed with and declared effective by the SEC [3] - The warrants and underlying ordinary shares are being issued in a private placement under Section 4(a)(2) of the Securities Act and Regulation D, and are not registered under the Securities Act or applicable state securities laws [4] Product Portfolio and Mission - Lifeward's mission is to relentlessly drive innovation to change the lives of individuals with physical limitations or disabilities, empowering them to do what they love [6] - The company's portfolio includes clinically proven and innovative rehabilitation products that deliver functional and health benefits in various settings [6]
Lifeward Announces Postponement of its Extraordinary General Meeting of Shareholders
Newsfilter· 2024-12-27 22:49
Company Overview - Lifeward is a global market leader in delivering life-changing solutions for rehabilitation, recovery, and empowering individuals with physical limitations or disabilities [7] - The company designs, develops, and commercializes innovative products such as the ReWalk Exoskeleton, AlterG Anti-Gravity System, MyoCycle FES System, and ReStore ExoSuit [11] - Founded in 2001, Lifeward has operations in the United States, Israel, and Germany [5] Shareholder Meeting Update - Lifeward has postponed its Extraordinary General Meeting of Shareholders from December 30, 2024, to January 13, 2025, due to an anticipated lack of quorum [7][8] - The record date for the meeting remains November 20, 2024, and shareholders who have already voted do not need to take further action unless they wish to change their vote [8] - The company plans to hold an Investor Day shortly after the postponed meeting, with the exact date to be confirmed [9] Proxy Statement and Shareholder Information - Lifeward filed a Definitive Proxy Statement with the SEC on November 25, 2024, which shareholders are urged to read carefully as it contains important information about the meeting [10] - Shareholders can access the proxy statement and other relevant documents on the SEC's website or the "SEC Filings" section of Lifeward's website [10]
Coverage for ReWalk Personal Exoskeleton Expands as Hungary Joins the U.S. and Germany with a Policy Providing Access to Exoskeletons
GlobeNewswire News Room· 2024-11-19 13:30
Core Article Summary - The Hungarian government has established a new state insurance code to provide coverage for exoskeleton training for individuals with spinal cord injuries, following research by Semmelweis University [1][2] - The ReWalk Exoskeleton, developed by Lifeward, has been available in Hungary since 2019 and has shown long-term therapeutic benefits in preventing health complications for spinal cord injury patients [2] - Lifeward's CEO highlighted the expansion of exoskeleton access to Germany, the United States, and Hungary, emphasizing the importance of such policies for the industry [3] Company Overview - Lifeward is a global leader in rehabilitation and recovery solutions, focusing on empowering individuals with physical limitations or disabilities [4] - The company's product portfolio includes the ReWalk Exoskeleton, AlterG Anti-Gravity System, MyoCycle FES System, and ReStore ExoSuit [4] - Lifeward operates in the United States, Israel, and Germany, with a mission to drive innovation and deliver life-changing solutions [5] Industry Impact - The decision by Hungary's government is seen as a progressive step that could improve the lives of many citizens with spinal cord injuries [3] - Lifeward is actively pursuing expansion of coverage through private insurers and Medicare Advantage in the United States, as well as adding contracts in Germany [3] - The ReWalk Exoskeleton is the only exoskeleton with both US and EU official certifications (FDA, CE/MDR) and is approved for home use, ensuring independent walking for users [3] Research and Development - Research conducted by Dr Péter Cserháti at Semmelweis University demonstrated the positive effects of exoskeleton rehabilitation on preventing health complications in spinal cord injury patients [2] - The ReWalk system has been in use at Hungary's National Medical Rehabilitation Institute since 2019, prior to its integration into Semmelweis University's Rehabilitation Clinic [2] Market and Distribution - Lifeward's products are distributed in Hungary by Fototronic Kft, which highlighted the unique certifications and home-use approval of the ReWalk Exoskeleton [3] - Approximately 300 new cases of spinal cord injury are reported annually in Hungary, indicating a significant potential market for exoskeleton solutions [3]