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Lifeward Expands Distribution Partnership with SportsMed Ltd. to Add Coverage for United Arab Emirates and Entire Gulf Cooperation Council Region
Globenewswireยท 2025-08-04 12:30
Core Viewpoint - Lifeward Ltd. has expanded its distribution partnership with SportsMed Products Ltd. to include the United Arab Emirates and the Gulf Cooperation Council region, enhancing the reach of its AlterG product lines [1][2]. Company Overview - Lifeward Ltd. is a global leader in innovative medical technology focused on transforming the lives of individuals with physical limitations or disabilities, with a mission to drive innovation in rehabilitation and recovery [3]. - The company offers a range of products including the ReWalk Exoskeleton, AlterG Anti-Gravity System, ReStore Exo-Suit, and MyoCycle FES System, and has operations in the United States, Israel, and Germany [3]. Partnership Details - The partnership with SportsMed Products Ltd. aims to leverage their established presence in the UK and Ireland, where they have sold over 300 AlterG devices since becoming the exclusive dealer in 2015 [2]. - SportsMed Performance Trading LLC, operating in the GCC, has launched a demo zone in Dubai for customers to experience the latest AlterG NEO+ system [2]. Market Expansion - The expansion into the UAE and GCC is seen as a critical step for Lifeward to enhance the global reach and success of its AlterG product lines [2].
Lifeward (LFWD) Conference Transcript
2025-05-21 15:00
Lifeward (LFWD) Conference Summary Company Overview - **Company**: Lifeward Limited - **Industry**: Medical Devices, specifically focused on rehabilitation technologies such as exoskeletons and functional electrical stimulation devices Key Points and Arguments Future Growth and Positioning - Lifeward has developed leading innovative technologies aimed at fundamentally changing lives, with a focus on commercialization [4][6] - The company has achieved significant milestones, including Medicare coverage for personal exoskeletons, which positions them for future growth [9][31] Product Portfolio - Lifeward's product lineup includes: - **ReWalk**: A personal exoskeleton for restoring functional walking [12][43] - **AlterG**: An antigravity system for rehabilitation [35][38] - **MyoCycle FES**: A functional electrical stimulation bike for therapy [40][41] - **ReStore Exosuit**: A soft exoskeleton primarily for stroke patients [43][44] Market Access and Reimbursement - The company has made strides in reimbursement coverage, with significant contracts established in the U.S. and Germany [29][31] - Lifeward is focusing on expanding into the commercial market and enhancing relationships with workers' compensation [30][32] Market Size and Potential - The total addressable market for ReWalk in the U.S. is approximately 15,000 eligible candidates, with an additional 2,000 in Germany, indicating a substantial growth opportunity [34] - The company is targeting a broader market with its various products, aiming for profitability through market penetration [34][71] Financial Performance and Path to Profitability - Lifeward expects to achieve revenue between $28 million to $30 million for the current year, with a goal of reaching breakeven at $40 million to $45 million in revenue by 2026 [47][71] - The company has improved gross margins through efficient operations and product mix [48][65] Product Development and Innovation - Lifeward has launched new versions of its products, enhancing user experience with features like smoother movement and better control [18][19][21] - Continuous feedback from users has driven product improvements, emphasizing the importance of user experience in rehabilitation technologies [27][28] Industry Dynamics - The medical device industry is fragmented, presenting opportunities for future consolidation as Lifeward continues to grow and integrate its product lines [46][47] - The company is strategically positioned to leverage its clinic presence to drive referrals and enhance product adoption [67][68] Additional Important Information - Lifeward's products are manufactured in various locations, with ReWalk produced in Israel and other products made in the U.S. [72] - The company has navigated tariff concerns effectively, with protocols in place to mitigate potential impacts [72] This summary encapsulates the key insights from the Lifeward conference, highlighting the company's strategic direction, product offerings, market potential, and financial outlook.