MARLBOROUGH, Mass. and
BERLIN, March 2, 2021 /PRNewswire/ -- ReWalk
Robotics, Ltd. (Nasdaq: RWLK) ("ReWalk" or the "Company"), a
leading manufacturer of robotic medical devices for people with
lower extremity disabilities, today announced it has entered into a
contract with BKK Mobil Oil Insurance to provide ReWalk Personal
Exoskeleton devices to its eligible beneficiaries with spinal cord
injury.
The contractual arrangement is the first with a company health
insurance fund and follows a series of agreements with several
health insurance providers in Germany, which ReWalk has signed since the
beginning 2020. With over one million beneficiaries, BKK Mobil Oil
is one of the largest of a total of 72 corporate health insurance
funds in Germany. Under the terms
of this contract, eligible individuals can receive a ReWalk
Personal 6.0 exoskeleton, which enables them to stand and walk in
their homes and communities, after completing the training
program.
"BKK Mobil Oil has taken the lead within corporate health
insurers in Germany by entering
into this contract," said ReWalk CEO Larry
Jasinski. "We hope that more corporate health insurances
will join this contract to ensure quality care with ReWalk
exoskeletons for their insureds."
"In addition to the innovative exoskeleton aid, which gives new
hope to many paralyzed people, we were particularly impressed by
the well thought-out and detailed care concept of ReWalk Robotics
GmbH. Everyone involved is aware of the current status of the
supply at all times, and can plan the next treatment steps, so that
our insured receive high-quality care and are efficiently guided
through the procedure," says Tanja
Euhus, Head of the Contracts Department at BKK Mobil
Oil.
In 2018, the ReWalk 6.0 personal exoskeleton system was listed
in the Medical Device Directory (MDD) of the Head Association of
Statutory Health Insurances (SHI), which includes all approved
devices for insurance procurement. That addition was a critical
turning point, enabling any of Germany's 103 statutory health insurance
companies to pursue standards of care for ReWalk. After being
listed in the MDD directory, ReWalk began to enter into supply
contracts with a number of German insurers.
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. The Company'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 United
States, 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.
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
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 include, among others: our ability to have sufficient
funds to meet certain future capital requirements, which could
impair our efforts to develop and commercialize existing and new
products; the adverse effect that the current COVID-19 pandemic has
had and may continue to have on the Company's business and
results of operations; ReWalk's ability to have sufficient funds to
meet certain future capital requirements, which could impair the
Company's efforts to develop and commercialize existing and new
products; 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 a cybersecurity attack or breach of the Company's IT
systems significantly disrupting its business operations; ReWalk's
expectations regarding future growth, including its ability to
increase sales in its existing geographic markets and expand to new
markets; 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 obtain certain components of its products from
third-party suppliers and its continued access to its product
manufacturers; ReWalk's ability to repay its secured indebtedness;
ReWalk's ability to improve its products and develop new products;
ReWalk's compliance with medical device reporting regulations to
report adverse events involving the Company's products, which could
result in voluntary corrective actions or enforcement actions such
as mandatory recalls, 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
its mandatory 522 postmarket surveillance study; 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 establish a pathway to commercialize its
products in China; the impact of
substantial sales of the Company's shares by certain shareholders
on the market price of the Company's ordinary shares; ReWalk's
ability to use effectively the proceeds of its offerings of
securities; the risk of substantial dilution resulting from the
periodic issuances of ReWalk's ordinary shares; the impact of the
market price of the Company's ordinary shares on the determination
of whether it is a passive foreign investment company; the market
and other conditions; and other factors discussed under the heading
"Risk Factors" in ReWalk's annual report on Form 10-K for the year
ended December 31, 2020 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.
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SOURCE ReWalk Robotics Ltd.