Lifeward appoints Almog Adar as new CFO

MARLBOROUGH, Mass. - Lifeward Ltd. (NASDAQ:LFWD), a medical technology company focused on solutions for people with physical limitations, announced Wednesday the appointment of Almog Adar as Chief Financial Officer. The company, currently valued at $11 million, has shown strong revenue growth of 42% over the last twelve months, according to InvestingPro data.

Adar, who previously served as Lifeward’s Vice President of Finance and Chief Accounting Officer, has been with the company since 2020 when he joined as Director of Finance and Corporate Financial Controller.

Mark Grant, President and Chief Executive Officer of Lifeward, said, "I am thrilled to welcome Almog to the executive leadership team. He has been an invaluable leader within our finance team."

Prior to joining Lifeward, Adar worked as Controller at Infinya Recycling Ltd. and as Assistant Controller at Delta Galil Industries. His earlier career included a position at Ernst & Young, where he gained experience in auditing and financial reporting.

"I am honored to step into the role of Chief Financial Officer at this pivotal moment for Lifeward," Adar said in the press release statement.

Adar holds a Bachelor of Arts degree in Accounting and Economics from the Open University of Israel and is a Certified Public Accountant licensed by the Israeli Ministry of Justice.

Lifeward, founded in 2001, designs and develops rehabilitation solutions including the ReWalk Exoskeleton, AlterG Anti-Gravity system, MyoCycle FES System, and ReStore Exo-Suit. The company maintains operations in the United States, Israel, and Germany. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional key insights available to subscribers. Get the complete financial picture with the comprehensive Pro Research Report, part of the extensive coverage available for over 1,400 US stocks.

In other recent news, Lifeward Ltd. announced the pricing of a $2.6 million public offering, which involves 4 million ordinary shares and accompanying warrants priced at $0.65 per share. This move is expected to dilute existing shareholders. Additionally, the company has expanded its distribution partnership with SportsMed Products Ltd. to include the United Arab Emirates and the Gulf Cooperation Council, enhancing its market reach for the AlterG product lines. Lifeward also held its 2025 Annual Meeting of Shareholders, where shareholders approved the 2025 Incentive Compensation Plan, allowing for stock-based awards to officers, directors, and employees.

In corporate governance changes, Lifeward appointed Mark Grant as a Class II director, increasing the board size to eight members. Concurrently, Larry Jasinski announced his resignation from the board and his role as Co-Chief Executive Officer, effective June 30, 2025, although he will remain as an advisor through the end of the year. Furthermore, Michael Lawless, the company’s Chief Financial Officer, is set to resign for personal reasons, effective June 27, 2025, as disclosed in a recent SEC filing. These developments reflect significant shifts within Lifeward’s leadership and strategic market positioning.

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