MARLBOROUGH, Mass. and YOKNEAM
ILIT, Israel, March 21, 2018 /PRNewswire/ -- ReWalk
Robotics Ltd. (Nasdaq: RWLK) ("ReWalk" or "the Company"), a leading
manufacturer of robotic exoskeletons, today announced that INAIL,
the Italian Ministry of Labor and Social Policy's statutory
insurance corporation, has put in place a coverage policy that will
provide exoskeleton systems for all qualifying beneficiaries. This
policy, the first of its kind in Italy, will provide individuals with spinal
cord injury access to obtain their own medical device so that they
can stand and walk again. Importantly, the INAIL policy is now in
effect. Beneficiary claims are expected to begin assessment
for coverage immediately. "The INAIL policy is a milestone in the
adoption of exoskeleton technology for the people of Italy, and will serve as a precedent in
helping many more injured workers around the world gain access to
this impactful medical device," said ReWalk CEO Larry Jasinski.
The INAIL policy is one of a series of national coverage
announcements from major European national insurers, and follows
the decision of the German statutory health insurance body to list
the ReWalk 6.0 Exoskeleton System in the German Medical Device
Directory. This trend sees insurers moving towards broad policy
application for procurement and reimbursement of
exoskeletons.
"We are encouraged by the series of similar decisions by
insurers and other payers, and continue to work diligently with
providers worldwide to develop coverage policies for spinal cord
injured beneficiaries," Jasinski added.
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.
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, and to expand to new markets and
achieve its planned expense reductions; the conclusion of ReWalk's
management and the opinion of ReWalk's auditors for the Company's
financial statements for the fiscal year ended December 31, 2017, 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
offerings of securities; 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 ability to regain compliance with the
continued listing requirements of the NASDAQ Capital Market and the
risk that its ordinary shares will be delisted if it cannot do so;
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; the risk of substantial dilution resulting from
the issuance to Timwell Corporation Limited ("Timwell"); the
significant voting power and de facto voting control Timwell will
acquire; the risk that the Timwell issuances will fail to close and
the China joint venture will not
form; and other factors discussed under the heading "Risk Factors"
in ReWalk's Annual Report on Form 10-K for the year ended
December 31, 2017 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.