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MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel – Lifeward Ltd. (NASDAQ:LFWD), a company known for its medical technology aimed at improving the lives of those with physical limitations and showing remarkable revenue growth of 173% over the last twelve months, and MYOLYN, Inc., a firm specializing in functional electrical stimulation (FES) therapy, announced an expansion of their exclusive contract today. According to InvestingPro analysis, Lifeward appears undervalued at its current market cap of $17.85 million. This expansion aims to enhance patient access to MYOLYN’s MyoCycle FES Cycling Therapy System for home use through Lifeward’s network.
The MyoCycle is a stationary exercise bike that employs electrical stimulation to activate muscles, providing therapeutic exercise for individuals with muscle weakness or paralysis due to conditions such as spinal cord injury, multiple sclerosis, and stroke. The expanded agreement will now include management of referrals and sales of the MyoCycle Home product for patients transitioning from clinical to home therapy. With a healthy current ratio of 2.65 and more cash than debt on its balance sheet, Lifeward appears well-positioned to support this expansion.
Lifeward CEO Larry Jasinski expressed enthusiasm about the partnership’s growth, emphasizing the opportunity to better serve patients who wish to continue rehabilitation at home. The company has prepared for the expected increase in MyoCycle product line demand by leveraging existing infrastructure, which also supports the ReWalk Exoskeleton.
Alan Hamlet, Co-Founder and CEO of MYOLYN, also commented on the expanded partnership, highlighting their mission to make products accessible to those in need and easing the transition from clinical to home therapy.
Lifeward’s portfolio includes the ReWalk Exoskeleton, AlterG Anti-Gravity System, ReStore Exo-Suit, and the MyoCycle FES System, reflecting the company’s commitment to innovation in physical rehabilitation and recovery. MYOLYN remains focused on empowering movement through electrical stimulation devices.
The information is based on a press release statement from Lifeward Ltd. and does not include any speculation or broader industry analysis. For comprehensive financial analysis and additional insights, including 14 exclusive ProTips and detailed valuation metrics, visit InvestingPro.
In other recent news, Lifeward has announced a $5 million registered direct offering, aiming to sell 1,818,183 ordinary shares at $2.75 per share. The offering, facilitated by H.C. Wainwright & Co. as the exclusive placement agent, is expected to close soon, with the proceeds intended for commercial efforts and general corporate purposes. Concurrently, Lifeward will issue warrants in a private placement, allowing the purchase of an additional 1,818,183 shares at the same price, exercisable immediately for three years. In another development, Lifeward has partnered with BARMER, Germany’s second-largest health insurer, to facilitate reimbursement for its ReWalk Personal Exoskeletons, impacting nearly half of Germany’s statutory health insurance holders. This agreement aims to ease access to exoskeleton technology for individuals with spinal cord injuries insured by BARMER. Furthermore, Laidlaw has initiated coverage of Lifeward with a Buy rating and a $10 price target, citing the potential for increased revenue from the ReWalk device, supported by a new Medicare payment rate. These developments reflect Lifeward’s ongoing efforts to enhance its market position and expand product accessibility both in the U.S. and internationally.
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