MARLBOROUGH, Mass. and YOKNEAM
ILIT, Israel, July 11, 2017 /PRNewswire/ -- ReWalk
Robotics Ltd. (NASDAQ: RWLK) ("ReWalk" or the "Company"), a leading
manufacturer of exoskeleton systems, announced today that the
Company has signed a new, exclusive distribution agreement in
France with Harmonie Médical
Service (HMS). Through the agreement, HMS will serve as the
sole distributor of ReWalk exoskeleton systems to qualifying
candidates with spinal cord injury (SCI) across France. HMS,
one of the largest medical device providers in the country, will be
able to distribute both ReWalk Personal systems for use in the home
and community and ReWalk Rehabilitation systems in clinical
rehabilitation settings of providers working with individuals with
SCI.
"The partnership with HMS provides an ideal structure to allow
paralyzed individuals throughout France the ability to walk again," said
Jodi Gricci, Chief Commercial
Officer of ReWalk Robotics. "Starting in 2011, Dr. Jacques Kerdraon at Kerpape demonstrated
leadership and built data to show the value of this technology. As
the product is now available for everyday use at home and in the
community, HMS provides the resources, support structure and
quality as a leading provider of products for injured
individuals."
"Our partnership with ReWalk is a real opportunity for HMS,"
said Sébastien Chamereau, Head of Disability Activity for Harmonie
Médical Service. "We have been working for 30 years in the medical
materials domain with people who have lost their mobility. We have
always looked for innovative technologies in this domain,
especially with the arrival of the first stand-up wheelchairs and,
later, intelligent control systems. Our goal is to provide maximum
autonomy to our customers in their everyday lives. The ReWalk 6.0
offers new medical and social opportunities to individuals with
spinal cord injury. In signing this exclusive distribution contract
with ReWalk, HMS will foster the arrival of this new technology
throughout France. It is when I
saw sparkles in the eyes and a large smile on the face of a young
paraplegic man using a ReWalk system that I knew why I really
wanted to provide this product in France."
Established in 1789, HMS is a renowned health service provider
in France, with branches
throughout the country and more than 500 employees. The
distribution agreement with ReWalk will apply to all of the HMS
offices across France.
About Harmonie Médical Service
Harmony Medical Service is a family-owned health service provider
founded in 1789. The firm joined the mutual Harmony network in
1997, and now includes more than 64 agencies and 45 departments
spread throughout the French territory. The company offers a wide
range of products for sale and rent in different areas, including
disability and mobility, medical equipment, comfort items,
technical aids for home care, community health facilities,
orthopedics, physiotherapy and management vehicles. For more
information visit www.harmonie-medical-service.fr
About ReWalk Robotics Ltd.
ReWalk Robotics Ltd. develops, manufactures and markets wearable
robotic exoskeletons for individuals with spinal cord injury.
ReWalk's mission is to fundamentally change the quality of life for
individuals with lower limb disability through the creation and
development of market leading robotic technologies. Founded in
2001, ReWalk has headquarters in the U.S., Israel and Germany. For more information on the ReWalk
systems, please visit www.rewalk.com.
ReWalk® is a registered trademark of ReWalk Robotics Ltd. in
Israel.
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, and Section 21E of the U.S. Securities
Exchange Act of 1934. Such forward-looking statements may include
projections regarding ReWalk's future performance 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 include, among others: ReWalk's expectations regarding
future growth, including its ability to increase sales in its
existing geographic markets, expand to new markets and achieve its
planned expense reductions; the conclusion of ReWalk's management
for the financial statements for fiscal 2016 and the first quarter
of 2017, and the opinion of ReWalk's auditors in their report on
the Company's financial statements for fiscal 2016, that there are
substantial doubts as to ReWalk's ability to continue as a going
concern; ReWalk's ability to maintain and grow its reputation and
the market acceptance of its products; ReWalk's ability to achieve
reimbursement from third-party payors for its products; ReWalk's
expectations as to its clinical research program and clinical
results; ReWalk's expectations as to the results of, and the Food
and Drug Administration's potential regulatory developments with
respect to, ReWalk's mandatory post-market 522 surveillance study;
the outcome of ongoing shareholder class action litigation relating
to ReWalk's initial public offering; ReWalk's ability to repay its
secured indebtedness; ReWalk's ability to improve its products and
develop new products; ReWalk's ability to maintain adequate
protection of its intellectual property and to avoid violation of
the intellectual property rights of others; ReWalk's ability to
gain and maintain regulatory approvals; ReWalk's ability to secure
capital from its at-the-market equity distribution program based on
the price range of its ordinary shares and conditions in the
financial markets; ReWalk's ability to use effectively the proceeds
of its 2016 follow-on offering; ReWalk's ability to maintain
relationships with existing customers and develop relationships
with new customers; and other factors discussed under the heading
"Risk Factors" in ReWalk's Annual Report on Form 10-K for the year
ended December 31, 2016, as amended,
filed with the U.S. Securities and Exchange Commission and other
documents subsequently filed with or furnished to the U.S.
Securities and Exchange Commission. 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.
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SOURCE ReWalk Robotics Ltd.