Business
ReWalk Robotics to Acquire AlterG; Acquisition Builds Commercial Scale and Accelerates Path to Profitability
Combined Company Expands Patient and Clinician Access to Innovative Rehabilitation Technologies for Home and Clinic Use Transaction Projected to Increase
About this update from Lifeward Ltd.
[{"type":"text","content":"Combined Company Expands Patient and Clinician Access to Innovative Rehabilitation Technologies for Home and Clinic Use Transaction Projected to Increase Revenue Growth and Improve Operating Margin, While Reducing Cash Burn Rate MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILLIT, Israel, Aug. 08, 2023 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (Nasdaq: RWLK) (“ReWalk”), a leading provider of innovative technologies that enable mobility and wellness in rehabilitation and daily life for individuals with neurological conditions, today announced the execution of a definitive agreement to acquire AlterG, Inc. (“AlterG”), a leading innovator and provider of Anti-Gravity systems for use in physical and neurological rehabilitation. This transaction adds AlterG’s current and future product lines to ReWalk’s existing portfolio of neurorehabilitation products and is expected to substantially expand its customer-facing capabilities and advance future growth opportunities. AlterG is a leader in transformative technology that empowers people to recover mobility, improve wellness, and enhance physical performance. AlterG develops, manufactures, and markets Anti-Gravity systems, which use patented, NASA-derived Differential Air Pressure technology to reduce the effects of gravity and allow people to move in new ways with finely calibrated support and reduced pain. AlterG systems can be found in more than 4,000 facilities around the world and have helped millions to safely and consistently reach their goals and achieve better mobility outcomes. “This transaction is truly transformative for ReWalk and is a milestone in our long-term strategy for growth from both our existing portfolio of products and from synergistic acquisitions,” said Larry Jasinski, Chief Executive Officer (“CEO”) of ReWalk. “We believe this transaction will leverage our combined market presence from both businesses and, by creating sales and support efficiencies across all product lines, accelerate our path to profitability. Through this transaction, we believe we will create a formidable commercial infrastructure to support multiple additional products across the continuum of care from the clinic to the home.” “AlterG and ReWalk share a common vision of combining synergistic industry-leading products into a world-class portfolio which leverages our collective strengths,” added Ch...