ReWalk Robotics Appoints Chunlin (Allen) Han to its Board of Directors
May 20 2019 - 7:00AM
ReWalk Robotics Ltd. (Nasdaq:RWLK) (“ReWalk” or “the Company”)
announced today that the Company has appointed Mr. Chunlin
(Allen) Han to the board of directors of the Company (the
“Board”). Ms. Ning Cong has departed the Board as of May 14, 2019
and Mr. Han has been appointed to ReWalk Board as of May 15, 2019
pursuant to the investment agreement with Timwell Corporation
Limited (“Timwell”).
Mr. Han is an executive director of Liquid
Harmony Limited and serves as Head of Investment and Financing for
Realcan Pharmaceutical Group Co. Ltd. (Shenzen: 002589.SZ), a large
distributor of medical drugs and equipment in China with access to
more than 8,000 hospitals and 33,000 primary medical institutions,
where he has been instrumental in acquiring more than 50
distribution companies and participated in three joint venture
investments. Mr. Han holds a Bachelor of Science degree in
pharmacology from McGill University in Montreal, Canada. His
father, Xu Han, and his mother, Renhua Zhang, indirectly control
Timwell affiliate Realcan Ambrum Healthcare Industry Investment
(Shenzhen) Partnership Enterprise (Limited Partnership), and Mr. Xu
Han is the sole shareholder of Timwell.
“We would like to thank Ning for her service on the ReWalk
board, and are pleased to welcome Allen to our Board of Directors
as a Timwell representative. We look forward to working with Allen
and Timwell,” said ReWalk CEO Larry
Jasinski.
About ReWalk Robotics Ltd.
ReWalk Robotics Ltd. develops, manufactures and markets wearable
robotic exoskeletons for individuals with lower limb disabilities
as a result of spinal cord injury or stroke. 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 and the United States.
ReStore® is a registered trademark of ReWalk Robotics Ltd in
Europe.
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 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 maintain 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;
the risk of decreased liquidity in the market for ReWalk’s ordinary
shares and a reduced market capitalization of the Company following
the recently-effected reverse share split, and the risk of dilution
following the recently-effected increase in authorized share
capital; 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 in 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 limited operating
history and its ability to leverage its sales, marketing and
training infrastructure; ReWalk’s expectations as to its clinical
research program and clinical results; ReWalk’s ability to improve
its products and develop new products; ReWalk’s ability to repay
its secured indebtedness; the outcome of ongoing shareholder class
action litigation relating to ReWalk’s initial public offering;
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; ReWalk’s ability to gain and maintain regulatory
approvals; 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
and ReWalk’s 510k submission for the ReStore for stroke patients;
ReWalk’s ability to maintain adequate protection of its
intellectual property and to avoid violation of the intellectual
property rights of others; the risk of a cybersecurity attack or
breach of our IT systems significantly disrupting our business
operations; ReWalk’s ability to use effectively the proceeds of
offerings of securities; ReWalk’s ability to establish a pathway to
commercialize its products in China; the risk of substantial
dilution resulting from the periodic issuances of ReWalk’s ordinary
shares; 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; and other factors discussed under the heading “Risk
Factors” in ReWalk’s Annual Report on Form 10-K for the fiscal year
ended December 31, 2018 filed with the U.S. Securities and Exchange
Commission (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.
Investor Contact: Ori Gon
Chief Financial Officer ReWalk Robotics Ltd. T:
+972-4-9590123 E: investorrelations@rewalk.com |
|
ReWalk Robotics (NASDAQ:RWLK)
Historical Stock Chart
From Mar 2024 to Apr 2024
ReWalk Robotics (NASDAQ:RWLK)
Historical Stock Chart
From Apr 2023 to Apr 2024