MARLBOROUGH, Mass. and YOKNEAM
ILIT, Israel and BERLIN, May 12,
2020 /PRNewswire/ -- ReWalk Robotics, Ltd. (Nasdaq: RWLK)
("ReWalk" or the "Company"), a leading manufacturer of robotic
medical devices for individuals with lower limb disabilities,
announced the acceptance of the binding offer by DGUV (Deutsche
Gesetzliche Unfallversicherung / The German Social Accident
Insurance) to provide qualified spinal cord injury (SCI) patients
with the ReWalk 6.0 robotic exoskeleton device. This binding offer
applies for the provision of ReWalk Exoskeletons for all insured
persons of the 36 different DGUV members/insurances. In 2018,
nearly 83 million Germans were insured against work-related,
commuting and school accidents and against occupational diseases
under DGUV.
Qualified SCI patients who are beneficiaries of DGUV have the
opportunity to be supplied with a ReWalk 6.0 exoskeleton for home
and community use. Additionally, the necessary training and device
support will be provided to those who have suffered an at-work or
commute to work or school-related incident, and who are deemed
eligible for the program.
"Germany's health care system
is a world leader in establishing new standards of care for their
population," said Larry Jasinski,
CEO of ReWalk. "This new national process will change many lives,
and alters the landscape by defining exoskeletal ReWalking as a
lifestyle path provided by the health care system. Building a
defined process where clinicians and injured individuals can
properly obtain this technology to enable walking sets the standard
not only for Germany, but all
other countries."
We have placed over 580 ReWalk exoskeletons to date
worldwide. The Company received FDA clearance in 2014, and
the CE Mark in 2012. The Company has been working with SCI
patients around the world to provide devices to qualified users, in
addition to working with insurers to establish national procurement
policies.
How it works: ReWalk is a wearable robotic exoskeleton
that provides powered hip and knee motion to enable individuals
with lower-limb disabilities, such as paraplegia, to stand upright
and to walk. The user initiates mobility in the ReWalk with a
computer-based control system and motion sensors, as well as a
lightweight brace support. The system allows the user to stand,
walk and turn, and is intended for use indoors and outdoors. The
ReWalk allows for controlled, independent walking and mimics the
natural gait of an able-bodied person.
To learn more, please visit: www.rewalk.com
About ReWalk Robotics Ltd.
ReWalk Robotics Ltd. develops, manufactures and markets
wearable robotic exoskeletons for individuals with lower limb
disabilities as a result of spinal cord injury or stroke. 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 United
States, 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 and the United States.
ReStore® is a registered trademark of ReWalk Robotics
Ltd. in Europe and an allowed trademark
in the United States.
Forward-Looking Statements
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 other statements that are not
statements of historical fact 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 management's conclusion,
and its independent registered public accounting firm's statement
in its opinion relating to its consolidated financial statements
for the fiscal year ended December 31, 2019, that there is a
substantial doubt as to the Company's ability to continue as a
going concern; the current COVID-19 pandemic has adversely affected
and may continue to affect adversely business and results of
operations; ReWalk's ability to have sufficient funds to meet
certain future capital requirements, which could impair the
Company's efforts to develop and commercialize existing and new
products; ReWalk's ability to maintain compliance with the
continued listing requirements of the Nasdaq Capital Market and the
risk that its ordinary shares will be delisted if it cannot do so;
ReWalk's ability to establish a pathway to commercialize its
products in China; 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 limited operating history and its ability to
leverage its sales, marketing and training infrastructure; ReWalk's
expectations as to its clinical research program and clinical
results; ReWalk's expectations regarding future growth, including
its ability to increase sales in its existing geographic markets
and expand to new markets; ReWalk's ability to obtain certain
components of its products from third-party suppliers and its
continued access to its product manufacturers; ReWalk's ability to
repay its secured indebtedness; ReWalk's ability to improve its
products and develop new products; the outcome of ongoing
shareholder class action litigation relating to its initial public
offering; ReWalk's compliance with medical device reporting
regulations to report adverse events involving the Company's
products, which could result in voluntary corrective actions or
enforcement actions such as mandatory recalls, and the potential
impact of such adverse events on ReWalk's ability to market and
sell its products; ReWalk's ability to gain and maintain regulatory
approvals; ReWalk's expectations as to the results of, and
the Food and Drug Administration's potential regulatory
developments with respect to its mandatory 522 postmarket
surveillance study; ReWalk's ability to maintain adequate
protection of its intellectual property and to avoid violation of
the intellectual property rights of others; the risk of a
cybersecurity attack or breach of the Company's IT systems
significantly disrupting its business operations; the impact of
substantial sales of the Company's shares by certain shareholders
on the market price of the Company's ordinary shares; ReWalk's
ability to use effectively the proceeds of its offerings of
securities; the risk of substantial dilution resulting from the
periodic issuances of ReWalk's ordinary shares; the impact of the
market price of the Company's ordinary shares on the determination
of whether it is a passive foreign investment company; and other
factors discussed under the heading "Risk Factors" in ReWalk's
annual report on Form 10-K for the year ended December 31,
2019 filed with the SEC and other documents
subsequently filed with or furnished to the SEC. 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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/rewalk-announces-binding-offer-to-deutsche-gesetzliche-unfallversicherung-dguv---german-social-accident-insurance-301057355.html
SOURCE ReWalk Robotics Ltd.