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ReWalk Robotics Ltd. (formerly Argo Medical Technologies) is a pioneering company in the field of wearable robotic exoskeletons. Established in 2001, ReWalk aims to revolutionize the health and life experiences of individuals with spinal cord injury (SCI). Headquartered in the United States, Israel, and Germany, the company is committed to enhancing mobility and wellness for individuals with neurological conditions.
Core Business: ReWalk designs, develops, and markets innovative exoskeletons. The company's flagship product, the ReWalk exoskeleton, enables individuals with SCI to stand upright and walk by providing powered hip and knee motion. As the only exoskeleton with FDA clearance for personal use, ReWalk has been extensively tested in the U.S., Europe, and Israel, supported by the most published data in the rehabilitation market.
Recent Achievements: Recently, ReWalk supported the
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ReWalk Robotics Ltd. (Nasdaq: RWLK) issued an open letter from CEO Larry Jasinski to shareholders detailing transformational achievements in 2023 and commercial and operating priorities for 2024. Achievements include progress with Medicare, acquisition of AlterG, FDA clearance for ReWalk Personal Exoskeletons, and plans for 2024 commercial and operational priorities.
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ReWalk Robotics, Ltd. (Nasdaq: RWLK) presented at the Healthcare Common Procedure Coding System public meeting and supported the proposed 'gap-filling' pricing method by CMS with up-to-date pricing information. The company provided feedback to CMS regarding the preliminary payment determination for the ReWalk Personal Exoskeleton. The CEO, Larry Jasinski, expressed appreciation for CMS's progress and provided updated pricing information to aid in payment calculations. CMS is expected to review the additional information and issue a final payment determination in February 2024, implementing payment rate updates to its fee schedule effective April 1, 2024.
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ReWalk Robotics (Nasdaq: RWLK) successfully demonstrated a proof-of-concept next-generation exoskeleton integrating advanced sensing technologies and artificial intelligence. The company aims to make exoskeletons easier and safer to use, reducing cognitive load on the user and broadening the use case to more activities of everyday life. ReWalk collaborates with the Human Robot Interaction Consortium to develop advanced technologies for improving human-exoskeleton interaction, widening adoption and making the use of exoskeletons easier and more natural.
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ReWalk Robotics Ltd. (Nasdaq: RWLK) announced record quarterly revenue of $4.4 million, completion of AlterG acquisition, and progress in attaining Medicare payment coverage for exoskeletons. The company highlighted significant achievements, including the acquisition of AlterG, progress with Medicare claim submissions, and advancements in the ReWalk 7 technology. Financially, revenue increased by 397% compared to Q3'22, with a gross margin of 19.6%. The company's liquidity stood at $32.6 million in unrestricted cash and cash equivalents with no debt.
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ReWalk Robotics Ltd. (Nasdaq: RWLK) commends the introduction of the Veterans Spinal Trauma Access to New Devices (STAND) Act, a bipartisan bill that aims to improve access to powered exoskeletons for clinically-eligible U.S. Veterans. The bill mandates annual exoskeleton evaluations, progress updates to Congress, involvement of manufacturers in clinical practice guideline changes, and inclusion of exoskeleton usage in performance metrics for VA leadership.
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ReWalk Robotics Ltd. schedules a conference call to discuss Medicare's preliminary payment determination for the ReWalk Personal Exoskeleton, with a preliminary payment determination of $94,617.
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ReWalk Robotics Ltd. will release its third quarter 2023 financial results on November 14, 2023, and host a conference call and live webcast to discuss the results.
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ReWalk Robotics announced that the Centers for Medicare & Medicaid Services (CMS) has included the ReWalk Personal Prosthetic Exoskeleton system in the agenda for the upcoming HCPCS meeting. CMS provided a preliminary payment determination of $94,617. ReWalk will participate in the meeting to ensure accurate Medicare payment rates.
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ReWalk Robotics Ltd. announces the finalization of the 2024 Medicare Home Health Rule, which includes personal exoskeletons in the Medicare brace benefit category. This rule expedites access to exoskeleton technology for individuals with spinal cord injuries. The rule will go into effect on January 1, 2024.
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ReWalk Robotics to present ReWalk Exoskeleton at GITEX GLOBAL event in Dubai
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FAQ
What is the market cap of ReWalk Robotics Ltd. (RWLK)?
The market cap of ReWalk Robotics Ltd. (RWLK) is approximately 8.9M.
ReWalk Robotics Ltd.