Shares of ReWalk Robotics (RWLK) the leading global exoskeleton developer and manufacturer, announced today that the U.S. Department of Veterans Affairs has issued a national policy for the evaluation, training and procurement of ReWalk Personal exoskeleton systems for all qualifying veterans across the United States. Shares of RWLK are up 125% at time of writing.
The VA policy, which is exclusive to ReWalk Robotics exoskeleton systems, is the first national coverage policy in the United States for qualifying individuals who have suffered spinal cord injury.We spoke with Loren Wass at the company back in October.“The key to sales traction is time,” Wass said. He likened the burgeoning technology market for those with mobility issues to the product cycle for cell phones. Wass drew a parallel between current wheelchairs and mobility assistance to some of the early phones we had in our cars, explaining that the technology advances for those confined to wheelchairs was on the cusp of dramatic change.
When asked about his own experience selling the products, he talked about the importance of insurers covering the cost for patients, and the changes the industry was going through. What really struck me, though, was his belief in the importance of his work, and how rewarding he found it.
“It’s like walking into Fenway Park and hearing your name called, and hearing the applause every time I see a mother or a father or a husband or daughter get out of the chair and walk for the first time in years,” Wass said. “That feeling will never get old for me.”
Wass’ passion certainly resonated with me, and ReWalk is now certainly on my radar here at Equities.com, because I love great stories like this!
ReWalk Robotics Ltd., a medical device company, designs, develops, and commercializes exoskeletons for wheelchair-bound individuals. The company offers ReWalk Personal for everyday use to individuals at home and in their communities; and ReWalk Rehabilitation for exercise and therapy to individuals with lower limb disabilities in the clinical rehabilitation environment. It is also developing ReWalk Q for individuals with quadriplegia. ReWalk Robotics Ltd. markets and sells its products directly to institutions and individuals in Germany and the United States, as well as through third-party distributors in other markets. The company was formerly known as Argo Medical Technologies Ltd. ReWalk Robotics Ltd. was founded in 2001 and is headquartered in Yokneam Ilit, Israel.
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