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ReWalk Robotics Donates ReStore Exo-Suit to Brooks Rehabilitation to Support Stroke Survivors

·7 min read

Covid-19 Pandemic Has Further Illustrated Need for Innovative Stroke Rehab Solutions

MARLBOROUGH, Mass., Dec. 21, 2020 /PRNewswire/ -- ReWalk Robotics, Ltd. (Nasdaq: RWLK) ("ReWalk" or the "Company"), a manufacturer of robotic medical devices for individuals with lower limb disabilities, today announced it has donated one of its ReStore Exo-suits to Brooks Rehabilitation, located in Jacksonville, Florida. The ReStore will be utilized by the therapy team in one of the the specialized Neuro Recovery Centers to conduct gait training sessions with patients seeking post-stroke rehabilitation.

ReWalk Robotics logo (PRNewsFoto/ReWalk Robotics) (PRNewsfoto/ReWalk Robotics Ltd.)
ReWalk Robotics logo (PRNewsFoto/ReWalk Robotics) (PRNewsfoto/ReWalk Robotics Ltd.)

Brooks combines highly trained clinicians with the latest technologies to advance rehabilitation through innovation and research-based practices. The ReStore Exo-suit is a first of its kind technology which is designed to be versatile and adaptable, allowing it to be used with a broader range of a clinic's stroke rehabilitation patients than previous robotic technologies.

"Being able to offer robotic assistance devices is especially important for patients and clinicians during the COVID-19 crisis to help support public health safety protocols," said Larry Jasinski, ReWalk CEO. "Our ReStore exo-suit is an innovative solution for stroke patients, and we're happy to deliver the device to a leading national care center known for adopting advanced care solutions to help serve their patients."

"As a recognized leader in physical therapy for 50 years, Brooks' sees technology not as a tool, but as a resource to help our clinicians achieve higher quality outcomes during a patient's rehabilitation. Thanks to this donation, we are able to offer our patients additional options for their stroke recovery," said Robert McIver, PT, DPT, NCS, Director of Clinical Technology at Brooks Rehabilitation.

A video of patients training with the ReStore device at Brooks can be seen here.

For more information, please visit rewalk.com.

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 United States, Israel and Germany. For more information on the ReWalk systems, please visit 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 and an allowed trademark in the United States.

About Brooks Rehabilitation

For 50 years, Brooks Rehabilitation, headquartered in Jacksonville, Fla., has been a comprehensive source for physical rehabilitation services. As a nonprofit organization, Brooks operates one of the nation's largest inpatient rehabilitation hospitals in the U.S. with 160 beds, one of the region's largest home healthcare agencies, over 40 outpatient therapy clinics, a Center for Inpatient Rehabilitation in partnership with Halifax Health in Daytona Beach, the Brooks Rehabilitation Medical Group, two skilled nursing facilities, assisted living and memory care. Brooks will treat more than 55,000 patients through their system of care each year. In addition, Brooks operates the Clinical Research Center, which specializes in research for stroke, brain injury, spinal cord injury and more to advance the science of rehabilitation. Brooks also provides many low or no cost community programs and services such as the Brooks Clubhouse, Brooks Aphasia Center and Brooks Adaptive Sports and Recreation to improve the quality of life for people living with physical disabilities. For more information, visit brooksrehab.org. Connect with us via YouTube, Facebook and Twitter.

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: ReWalk's management's conclusion, and its independent registered public accounting firm's statement in its opinion relating to its consolidated financial statements for the fiscal year ended December 31, 2019, that there is a substantial doubt as to the Company's ability to continue as a going concern; the current COVID-19 pandemic has adversely affected and may continue to affect adversely 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; ReWalk's ability to establish a pathway to commercialize its products in China; 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 expectations regarding future growth, including its ability to increase sales in its existing geographic markets and expand to new markets; 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; the outcome of ongoing shareholder class action litigation relating to its initial public offering; 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; the risk of a cybersecurity attack or breach of the Company's IT systems significantly disrupting its business operations; 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; and other factors discussed under the heading "Risk Factors" in ReWalk's annual report on Form 10-K for the year ended December 31, 2019 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.