MARLBOROUGH, Mass. and YOKNEAM
ILIT, Israel, Sept. 14, 2017 /PRNewswire/ -- ReWalk
Robotics Ltd. ("ReWalk" or the "Company") (Nasdaq: RWLK), today
announced that one of the leading German insurers, Barmer, has
signed a confirmation regarding the provision of ReWalk systems for
all qualifying beneficiaries. This confirms the procurement of
exoskeletons for users that meet the inclusion criteria and reach
successful assessment by the German Medical Service of the Health
Insurers (MDK) before and after training
"The continued expansion of data, the growing number of
successful ReWalk users worldwide and the positive decision from
the German Social Court have led Barmer to determine that
exoskeletons are a standard of care for use in everyday life," said
ReWalk CEO Larry Jasinski. "The
progressive approach of a prominent Statutory Health Insurance
group, such as Barmer, and an increase of purchases and expanded
training efforts with the Workman's compensation BG
(Berufsgenossenschaft) in Germany,
marks meaningful progress to improve the quality of life for those
with spinal cord injury."
Barmer has already begun processing claims with three
beneficiaries entering training for in-home use of an exoskeleton.
One of the most significant national insurers in Germany, and a member of the German Statutory
Health Insurance network, Barmer provides insurance coverage for
nearly 10 million people.
Separately, the Company announced that ReWalk continues to
engage with U.S. national and regional insurance providers to
secure potential coverage policies based on a growing wealth of
data and a number of appeal rulings that have deemed exoskeleton
devices a "medically necessary" standard of care for individuals
with spinal cord injury (SCI). As part of this ongoing initiative,
a large national insurance provider has requested additional
information in order to continue to evaluate a change from their
current non-coverage policy. The Company is also submitting data to
two additional U.S. commercial groups for policy reviews.
About ReWalk Robotics Ltd.
ReWalk Robotics Ltd. develops, manufactures and markets wearable
robotic exoskeletons for individuals with spinal cord injury. Our
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 the second quarter of 2017 and for
fiscal 2016, 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
equity and debt financings in light of limitations under its Form
S-3, the price range of its ordinary shares and conditions in the
financial markets, and the risk that such financings may dilute
ReWalk's shareholders or restrict its business; 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; the impact of the
market price of ReWalk's ordinary shares on the determination of
whether ReWalk is a passive foreign investment company; ReWalk's
compliance with medical device reporting regulations to report
adverse events involving its products and the potential impact of
such adverse events on ReWalk's ability to market and sell its
products; 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.
View original content with
multimedia:http://www.prnewswire.com/news-releases/payer-coverage-for-rewalk-expands-in-germany-with-barmer-300519519.html
SOURCE ReWalk Robotics Ltd.