New Bill Facilitates Veteran Access to Powered Exoskeletons
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Veterans STAND Act mandates regular evaluations of paralyzed Veterans and proactively identifies clinically-eligible Veterans for expedited procurement of personal exoskeletons
MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILIT, Israel, Nov. 10, 2023 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (Nasdaq: RWLK) (“ReWalk” or the “Company”), a leading provider of innovative technologies that enable mobility and wellness in rehabilitation and daily life for individuals with neurological conditions, applauded new legislation that will be introduced in the U. S. House of Representatives that will enhance the opportunity for clinically-eligible U.S. Veterans to gain access to powered exoskeletons, and ensure the U.S Department of Veterans’ Affairs (“VA”) is delivering the technology in both a routine and timely manner. The new bi-partisan bill, titled the Veterans Spinal Trauma Access to New Devices (STAND) Act, will be introduced by Representative Jack Bergman (MI-01) and co-led by the Chairman of the House Veterans’ Affairs Committee, Mike Bost (IL-12), Ranking Member of the Health Subcommittee, Julia Brownley (CA-26), and Congresswoman Debbie Dingell (MI-6) in recognition of Veterans’ Day.
“General Bergman’s leadership on this issue has been instrumental in promoting transparency and reliability at the VA for those Veterans with spinal cord injuries and disorders (SCI/D) whose overall health can be profoundly improved by regaining the ability to walk with exoskeleton technology,” said Larry Jasinski, CEO of ReWalk Robotics. “We look forward to working with General Bergman, his colleagues in the House, the U.S. Senate and the VA leadership to standardize the process for evaluation, training and delivery of exoskeletons to eligible Veterans in need.”
The VA estimates that approximately 42,000 individuals with spinal cord injuries are U.S. Veterans, of which the VA provides annual care to more than 27,000 individuals through the VA Spinal Cord Injuries and Disorders (SCI/D) network. The STAND Act, which has been endorsed by Paralyzed Veterans of America and Disabled American Veterans, seeks to ensure that: (1) annual exoskeleton evaluations are codified in law for those Veterans who seek their care through the VA; (2) VA provides Congress updates on the progress in terms of numbers of evaluations, training and device approvals; (3) exoskeleton manufacturers and other external stakeholders are included when considering changes to the clinical practice guidelines published at VA governing the evaluation, training and procurement of exoskeleton devices; and finally, (4) appropriate usage of exoskeleton devices becomes a measurable element of the overall performance metrics for leadership within existing Veteran Integrated Service Networks (VISNs), or VA regions.
About ReWalk Robotics Ltd.
ReWalk Robotics Ltd. is a medical device company that designs, develops, and commercializes innovative technologies that enable mobility and wellness in rehabilitation and daily life for individuals with neurological conditions. ReWalk’s mission is to fundamentally change the quality of life for these individuals through the creation and development of market leading technologies. Through its recent acquisition of AlterG, Inc., ReWalk has added anti-gravity systems to its growing portfolio of products. Founded in 2001, ReWalk has operations in the United States, Israel, and Germany. For more information on the ReWalk systems, please visit rewalk.com. For more information on the AlterG systems, please visit alterg.com.
ReWalk® and ReStore® are registered trademarks of ReWalk Robotics Ltd. in the United States and other jurisdictions. AlterG® is a registered trademark of AlterG, Inc. in the United States and other jurisdictions.
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, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. 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 are more fully discussed in ReWalk’s periodic filings with the Securities and Exchange Commission (“SEC”), including the risk factors described under the heading "Risk Factors" in ReWalk's annual report on Form 10-K and 10-K/A for the year ended December 31, 2022 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.
ReWalk Media Relations:
LifeSci Communications
E: media@rewalk.com
ReWalk Investor Contact:
Mike Lawless
Chief Financial Officer
ReWalk Robotics Ltd
E: investorrelations@rewalk.com
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