ReWalk | Jotup

VA STAND Act introduced in the United States Senate

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Friday, March 22, 2024

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6373, the VA Spinal Trauma Access to New Devices (STAND) Act.

Key Points:

6373, the VA Spinal Trauma Access to New Devices (STAND) Act.
The Senate companion bill was introduced by Chairman of the Senate Veterans' Affairs Committee, Senator Jon Tester (D-MT), and the Ranking Member of that committee, Senator Jerry Moran (R-KS).
The bill also requires VA to report to Congress on their performance regarding the exams and device placements and holds local and regional VA medical centers accountable for performance against these same metrics.
The Senate bill comes on the same day that ReWalk device user and U.S. Marine Corps Veteran, Brittany Elliott, testified in a legislative hearing in front of the House Committee on Veterans' Affairs, Subcommittee on Health regarding the STAND Act.

Lifeward announces the Centers for Medicare & Medicaid Services (“CMS”) is deferring its final decision on the payment rate for personal exoskeletons so that more recent claims information on the current, more advanced ReWalk Personal Exoskeleton may be c

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Friday, March 1, 2024

ReWalk, CMS, DBA, Macs, Disability, Medicare, HCPCS, Rehabilitation, Robotics, Face, Health insurance

MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, March 01, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (DBA Lifeward™), (Nasdaq: LFWD) (“Lifeward” or the “Company”), a global market leader delivering life-changing solutions to revolutionize what is possible in rehabilitation, recovery, and the pursuit of life’s passions in the face of physical limitation or disability, today announced that in CMS’ February 29th HCPCS decision memorandum the pricing decision for personal exoskeletons is deferred to obtain more information about current exoskeleton pricing. CMS accepted that “between the original 2020 HCPCS application and the present, the previous model [of the ReWalk Exoskeleton] has been discontinued in favor of the current model that incorporates additional, clinically significant functionality,” and the agency is open to gaining more information about pricing of the current exoskeleton model.

Key Points:

CMS issues these HCPCS decision memorandums twice per year, so it is anticipated that a pricing decision would be made in the next cycle, if not earlier.
As of February 2024, a total of 35 ReWalk Personal Exoskeleton systems have been delivered to Medicare beneficiaries and will continue to be processed accordingly.
“We set a goal many years ago to help individuals with spinal cord injury achieve broader access to technologies which enable them to walk again.
To learn more about the Lifeward mission and product portfolio, please visit GoLifeward.com .

Lifeward Reports Fourth Quarter and Full Year 2023 Financial Results

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Tuesday, February 27, 2024

MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, Feb. 27, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (DBA Lifeward™), (Nasdaq: LFWD) (“Lifeward” or the “Company”), a global market leader delivering life-changing solutions to revolutionize what is possible in rehabilitation, recovery, and the pursuit of life’s passions in the face of physical limitation or disability, today announced its financial results for the three months and full year ended December 31, 2023.

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Gross margin was 35.5% during the fourth quarter of 2023, compared to 30.9% in the fourth quarter of 2022.
Total operating expenses in the fourth quarter of 2023 were $8.6 million, compared to $5.7 million in the fourth quarter of 2022.
Excluding the impact of AlterG, operating expenses were $5.4 million in the fourth quarter of 2023, compared to $5.7 million in the fourth quarter of 2023, down $0.3 million, or -4%.
Operating loss in the fourth quarter of 2023 was $6.1 million, compared to $5.0 million in the fourth quarter of 2022.

ReWalk Robotics Expands Direct Sales Coverage to Canada

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Friday, January 12, 2024

ReWalk, Rehabilitation, Acquisition, AlterG

and BERLIN and YOKNEAM ILLIT, Israel, Jan. 12, 2024 (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, announced today that the Company is expanding its direct sales coverage to Canada.

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and BERLIN and YOKNEAM ILLIT, Israel, Jan. 12, 2024 (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, announced today that the Company is expanding its direct sales coverage to Canada.
This expansion occurs as the result of the integration between the former ReWalk and AlterG commercial teams following the recent acquisition, which has resulted in a more extensive sales force with increased capacity.
“With the formation of our larger, newly combined commercial team, we have expanded three sales territories to include the major population centers in Canada,” said Larry Jasinski, Chief Executive Officer of ReWalk.
“In addition to the restructuring of our commercial teams, each of our functional areas has been realigned into our new operating structure.

ReWalk Robotics Ltd. to Present at Sidoti Virtual Investor Conference on January 17

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Thursday, January 11, 2024

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and BERLIN and YOKNEAM ILIT, Israel, Jan. 11, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (Nasdaq: RWLK) (“ReWalk” or the “Company”) announced that Larry Jasinski, Chief Executive Officer, and Mike Lawless, Chief Financial Officer, will provide an overview presentation and host one-on-one meetings with investors at the Sidoti January Virtual Investor Conference, taking place on January 17-18, 2024.

Key Points:

and BERLIN and YOKNEAM ILIT, Israel, Jan. 11, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (Nasdaq: RWLK) (“ReWalk” or the “Company”) announced that Larry Jasinski, Chief Executive Officer, and Mike Lawless, Chief Financial Officer, will provide an overview presentation and host one-on-one meetings with investors at the Sidoti January Virtual Investor Conference, taking place on January 17-18, 2024.
The presentation will begin at 2:30 PM EST on January 17, 2024 and can be accessed live here: https://sidoti.zoom.us/webinar/register/WN_ZpcK-ahiRLabYaQ5ySQKsw .
ReWalk will also host virtual one-on-ones with investors on Wednesday and Thursday, January 17-18, 2023.
Registration is free and interested investors do not need to be a Sidoti client.

ReWalk Robotics CEO Issues Year-End 2023 Open Letter to Shareholders and Provides 2024 Commercial and Operational Priorities

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Thursday, January 4, 2024

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and BERLIN and YOKNEAM ILLIT, Israel, Jan. 04, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. ( Nasdaq: RWLK ) (“ReWalk” or the “Company”), today issued an open letter from Larry Jasinski, Chief Executive Officer, to shareholders detailing transformational achievements in 2023 and commercial and operating priorities for 2024.

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and BERLIN and YOKNEAM ILLIT, Israel, Jan. 04, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. ( Nasdaq: RWLK ) (“ReWalk” or the “Company”), today issued an open letter from Larry Jasinski, Chief Executive Officer, to shareholders detailing transformational achievements in 2023 and commercial and operating priorities for 2024.
The full letter is published below:
On behalf of ReWalk and our Board of Directors, I want to wish everyone a happy, healthy, and safe new year.
We are proud to have made great progress in navigating the pathway to appropriate Medicare payment for our ReWalk Exoskeleton.
As such, the start of the new year is an opportune time to spotlight the Company’s 2024 commercial and operating plans.

ReWalk Robotics Presents on Personal Exoskeleton Pricing at Medicare Public Meeting

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Thursday, November 30, 2023

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and BERLIN and YOKNEAM ILLIT, Israel, Nov. 30, 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, presented at the Healthcare Common Procedure Coding System (“HCPCS”) public meeting on November 29, 2023 and provided feedback to the Centers for Medicare & Medicaid Services (“CMS”) regarding the preliminary payment determination for the code describing the ReWalk Personal Exoskeleton.

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and BERLIN and YOKNEAM ILLIT, Israel, Nov. 30, 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, presented at the Healthcare Common Procedure Coding System (“HCPCS”) public meeting on November 29, 2023 and provided feedback to the Centers for Medicare & Medicaid Services (“CMS”) regarding the preliminary payment determination for the code describing the ReWalk Personal Exoskeleton.
“Yesterday’s meeting was an opportunity for us to show our appreciation for the significant progress that CMS has made in providing a pathway for paralyzed individuals to access life-changing exoskeleton technologies,” said Larry Jasinski, CEO of ReWalk.
“It was also an opportunity to provide updated pricing information for the current ReWalk Personal Exoskeleton so that CMS can utilize these data in its payment calculations in place of the 2020 data that were used in the preliminary payment determination.”
The meeting was attended by multiple representatives from CMS who had the opportunity to ask questions and seek further clarification on the materials presented.
Following this public meeting, CMS is expected to review the additional information submitted by ReWalk and any other commenters, issue a final payment determination in February 2024, and implement payment rate updates to its fee schedule effective April 1, 2024.

ReWalk Robotics Demonstrates AI Autonomous Decision Making in Next Generation Exoskeleton Prototype

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Tuesday, November 28, 2023

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As part of the Israel Innovation Authority’s MAGNET incentive program, the Human Robot Interaction Consortium (the “HRI Consortium”), the company has reached a milestone by integrating advanced sensing technologies and artificial intelligence (“AI”) to enable autonomous decision making in the Company’s latest exoskeleton prototype.

Key Points:

As part of the Israel Innovation Authority’s MAGNET incentive program, the Human Robot Interaction Consortium (the “HRI Consortium”), the company has reached a milestone by integrating advanced sensing technologies and artificial intelligence (“AI”) to enable autonomous decision making in the Company’s latest exoskeleton prototype.
“As our recent success with Medicare continues to broaden coverage for exoskeletons, ReWalk is committed to making exoskeletons more accessible and easier to use with each generation.
As a member of the HRI Consortium, ReWalk collaborates with several universities to develop advanced technologies aimed at improving the human-exoskeleton interaction.
ReWalk is one of nine companies participating in the HRI Consortium, in addition to several Israeli universities.

ReWalk Robotics Reports Third Quarter 2023 Financial Results

Retrieved on:

Tuesday, November 14, 2023

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MARLBOROUGH, Mass., BERLIN and YOKNEAM ILLIT, Israel, Nov. 14, 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, today announced its financial results for the three and nine months ended September 30, 2023.

Key Points:

Significant progress advancing the 510(k) premarket notification for the next-generation ReWalk 7 toward submission by the end of 2023.
Gross margin was 19.6% during the third quarter of 2023, compared to 24.9% in the third quarter of 2022.
Total operating loss in the third quarter of 2023 was $7.9 million, compared to $5.4 million in the third quarter of 2022.
ReWalk management will host its third quarter 2023 conference call as follows:

In Historic Move, Medicare Proposes Preliminary Reimbursement Level for ReWalk Personal Exoskeleton

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Monday, November 6, 2023

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MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILLIT, Israel, Nov. 06, 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, today announced that the Centers for Medicare & Medicaid Services (“CMS”) has included the ReWalk Personal Prosthetic Exoskeleton system in the agenda for the upcoming Healthcare Common Procedure Coding System (“HCPCS”) meeting on November 29, 2023 and provided a preliminary payment determination of $94,617.

Key Points:

Preliminary payment determination of $94,617 does not yet factor in currently available ReWalk system with Breakthrough Device Designation.
CMS welcomes additional pricing materials at upcoming HCPCS meeting to reflect subsequent advancements in technology and pricing since ReWalk’s 2020 application.
In applying this formula to the code describing the ReWalk Personal Exoskeleton, CMS relied on average prices from 2020 market transactions, which CMS determined to be $125,500, and resulted in preliminary Medicare pricing of $94,617.
A final payment determination is expected in early 2024 with an April 1, 2024 effective date.