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Lifeward to Report Second Quarter Financial Results on August 14, 2025
Globenewswire· 2025-08-07 21:30
Core Viewpoint - Lifeward Ltd. is set to release its second quarter 2025 financial results on August 14, 2025, before market opening, highlighting its ongoing commitment to innovation in medical technology for individuals with physical limitations or disabilities [1]. Company Overview - Lifeward designs, develops, and commercializes solutions aimed at physical rehabilitation and recovery, with a mission to drive innovation that transforms the lives of individuals with disabilities [3]. - The company's product portfolio includes notable innovations such as the ReWalk Exoskeleton, AlterG Anti-Gravity system, MyoCycle FES System, and ReStore Exo-Suit, which provide functional and health benefits in both clinical and home settings [3]. Financial Communication - The financial results will be discussed in a conference call and live webcast hosted by the President and CEO, Mark Grant, along with the Vice President of Finance, Almog Adar, scheduled for 8:30 a.m. EDT on the same day [2]. - Access to the conference call will be available through various toll-free numbers for different regions, and a live webcast will be accessible via the company's website [2].
Lifeward Expands Distribution Partnership with SportsMed Ltd. to Add Coverage for United Arab Emirates and Entire Gulf Cooperation Council Region
Globenewswire· 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 Announces Closing of $2.6 Million Public Offering
Globenewswire· 2025-06-26 20:15
Core Viewpoint - Lifeward Ltd. has successfully closed a public offering of 4,000,000 ordinary shares and accompanying warrants, raising approximately $2.6 million in gross proceeds, which will be used for commercial efforts and working capital [1][3]. Group 1: Offering Details - The public offering price was set at $0.65 per ordinary share and associated ordinary warrant, with the warrants having an exercise price of $0.65 and expiring five years from the issuance date [1]. - H.C. Wainwright & Co. served as the exclusive placement agent for the offering [2]. - The potential additional gross proceeds from the exercise of the ordinary warrants, if fully exercised, could amount to another $2.6 million [3]. Group 2: Company Overview - Lifeward Ltd. is a leader in innovative medical technology aimed at transforming the lives of individuals with physical limitations or disabilities [1]. - The company offers a range of products including the ReWalk Exoskeleton, AlterG Anti-Gravity System, ReStore Exo-Suit, and MyoCycle FES System, focusing on rehabilitation and recovery [6]. - Founded in 2001, Lifeward operates in the United States, Israel, and Germany, with a mission to drive innovation in the field of physical rehabilitation [6].
Lifeward Announces Pricing of $2.6 Million Public Offering
Globenewswire· 2025-06-25 13:10
Core Viewpoint - Lifeward Ltd. has announced a public offering of 4,000,000 ordinary shares and accompanying warrants at a price of $0.65 per share, aiming to raise approximately $2.6 million for commercial efforts and working capital [1][3]. Group 1: Offering Details - The public offering includes 4,000,000 ordinary shares and warrants to purchase an additional 4,000,000 shares at the same price of $0.65 [1]. - The ordinary warrants will be exercisable immediately and will expire five years from the issuance date [1]. - The expected gross proceeds from the offering are approximately $2.6 million before deducting fees and expenses [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for continuing commercial efforts, working capital, and general corporate purposes [3]. Group 3: Regulatory Information - The offering is being conducted under a registration statement on Form S-1, which was declared effective by the SEC on June 25, 2025 [4]. - A preliminary prospectus has been filed with the SEC and is available on their website [4]. Group 4: Company Overview - Lifeward Ltd. specializes in innovative medical technology aimed at transforming the lives of individuals with physical limitations or disabilities [6]. - The company’s product portfolio includes the ReWalk Exoskeleton, AlterG Anti-Gravity System, ReStore Exo-Suit, and MyoCycle FES System [6]. - Founded in 2001, Lifeward operates in the United States, Israel, and Germany [6].
Administrative Law Judge Determines ReWalk Personal Exoskeleton is “Reasonable and Necessary” for Medicare Beneficiary
Globenewswire· 2025-06-24 20:05
Core Viewpoint - The recent ruling by an Administrative Law Judge establishes that the ReWalk Exoskeleton is a "reasonable and necessary" medical device for enabling paralyzed individuals to walk, paving the way for Medicare coverage and potentially broader commercial insurance access [1][2]. Group 1: Legal and Regulatory Developments - The ALJ ruling supports an appeal by a Medicare beneficiary for coverage of the ReWalk Exoskeleton, affirming its medical necessity for individuals with spinal cord injuries [1]. - This ruling builds on a prior decision by the Centers for Medicare & Medicaid Services (CMS) in April 2024, which finalized a reimbursement pathway for personal exoskeletons [2]. Group 2: Company Innovations and Products - The ReWalk Exoskeleton is noted as the only personal exoskeleton that allows paralyzed individuals to navigate stairs and curbs, in addition to walking in everyday environments [2]. - The latest model, ReWalk 7, received FDA clearance in March 2025 and is now commercially available in the United States [2]. Group 3: Company Mission and Vision - Lifeward aims to transform the lives of individuals with physical limitations through innovative medical technology, focusing on expanding data and programs for the paralyzed community [2][3]. - The company is committed to delivering groundbreaking solutions that empower individuals to regain mobility and improve their quality of life [3].
Lifeward Names Mark Grant as New CEO
Globenewswire· 2025-05-19 12:30
Core Viewpoint - Lifeward Ltd. has appointed Mark Grant as the new President and CEO, effective June 2, 2025, to lead the company in its next growth phase, while outgoing CEO Larry Jasinski will assist in the transition [1][2][3] Company Leadership - Mark Grant brings 30 years of experience in commercial leadership and strategic solutions, having managed teams across multiple geographies and critical functions [2][5] - The Board of Directors expressed confidence in Grant's ability to drive innovations that improve the lives of individuals with physical limitations [3][4] Recent Achievements - Lifeward has made significant progress in the past year, including achieving Medicare payment for the ReWalk exoskeleton and building a strong pipeline of ReWalk cases [3][4] Product Portfolio - The ReWalk exoskeleton is highlighted as a key product in Lifeward's portfolio, which includes other innovative solutions aimed at enhancing the quality of life for individuals with disabilities [4][10] Inducement Grant - In connection with Grant's appointment, Lifeward's Board approved an inducement award of 400,000 options to purchase ordinary shares, subject to specific terms and conditions [8][9] Company Background - Lifeward, founded in 2001, operates in the United States, Israel, and Germany, focusing on developing life-changing solutions for physical rehabilitation and recovery [10][11]
Lifeward Ltd. Reports First Quarter 2025 Financial Results
Globenewswire· 2025-05-15 12:00
Core Insights - Lifeward Ltd. reported a revenue of $5.0 million for Q1 2025, a decrease from $5.3 million in Q1 2024, primarily due to lower sales of ReWalk Exoskeletons and MyoCycles [4][9] - The company experienced a significant increase in gross margin to 42.2% in Q1 2025, up from 26.4% in Q1 2024, attributed to a favorable mix of payors and higher sales volume of AlterG systems [5][29] - Lifeward's operating loss improved to $4.9 million in Q1 2025 from $6.5 million in Q1 2024, indicating better cost management and operational efficiency [8][9] Financial Performance - Revenue from AlterG products and services increased by 17% to $3.3 million in Q1 2025, driven by higher international demand [4] - Operating expenses decreased to $7.0 million in Q1 2025 from $7.9 million in Q1 2024, reflecting cost savings from the closure of certain facilities [6][7] - The net loss narrowed to $4.8 million, or $0.46 per share, compared to a net loss of $6.3 million, or $0.73 per share, in the prior year [9][23] Market Developments - Lifeward launched the ReWalk 7 exoskeleton in the U.S. market following FDA clearance, marking a significant product advancement [6] - The company secured its first approval for a ReWalk 7 claim from a major U.S. commercial health insurance provider, expanding its market reach beyond Medicare [6] - Lifeward established a partnership with CorLife for exclusive distribution of the ReWalk Personal Exoskeleton to individuals with workers' compensation claims, aiming for greater market penetration [6] Liquidity and Guidance - As of March 31, 2025, Lifeward had $5.7 million in unrestricted cash and cash equivalents, with no debt, indicating a stable liquidity position [10] - The company expects full-year revenue for 2025 to be in the range of $28 million to $30 million, reflecting optimistic growth prospects [11]
Lifeward to Report First Quarter 2025 Financial Results on May 15, 2025
Globenewswire· 2025-05-07 20:30
Core Viewpoint - Lifeward Ltd. is set to release its first quarter 2025 financial results on May 15, 2025, before market opening, indicating a focus on transparency and communication with investors [1]. Company Overview - Lifeward is a global leader in innovative medical technology aimed at transforming the lives of individuals with physical limitations or disabilities [1]. - The company designs, develops, and commercializes solutions that provide functional and health benefits across various care settings, including clinical environments and home care [3]. - Lifeward's product portfolio includes notable innovations such as the ReWalk Exoskeleton, AlterG Anti-Gravity system, MyoCycle FES System, and ReStore Exo-Suit, showcasing its commitment to driving innovation in rehabilitation [3]. Financial Communication - The CEO Larry Jasinski and CFO Mike Lawless will host a conference call and live webcast on May 15, 2025, at 8:30 a.m. EDT to discuss the financial results, emphasizing the company's commitment to engaging with analysts and investors [2]. - Access to the conference call will be available through multiple channels, including toll-free numbers for various regions and a live webcast on the company's website [2].