MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILLIT, Israel, Jan. 05, 2024 (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 that it has received payment from Noridian Healthcare Solutions ("Noridian"), a Medicare Administrative Contractor ("MAC"), for its first claim for the ReWalk Personal Exoskeleton.
This marks coverage and payment by Medicare fee-for-service for the first-ever claim submitted for a ReWalk Personal Exoskeleton device. This milestone reflects an acknowledgement by Medicare that the ReWalk Personal Exoskeleton is a medically necessary device, as supported by a body of scientific evidence, when prescribed for an eligible Medicare beneficiary with spinal cord injury ("SCI").
"This recent payment for a ReWalk Personal Exoskeleton by the Medicare program represents an achievement for the paralyzed community and reinforces the medical necessity of the ReWalk Exoskeleton for eligible individuals with SCI," said Larry Jasinski, CEO of ReWalk Robotics. "We are thrilled to see that ReWalk's years of collaboration and coordination, working in tandem with Medicare representatives, health care providers, lawmakers, and members of the SCI community, are beginning to come to fruition. We look forward to continuing our work with Medicare now that the 2024 Home Health Rule, which codifies a clear coverage pathway for personal exoskeletons, has gone into effect on January 1, 2024."
To learn more about ReWalk's work with Medicare beneficiaries, please visit rewalk.com/medicare.
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 future regulatory interactions 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
