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MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel - Lifeward Ltd. (NASDAQ: LFWD), a company specializing in medical technology for individuals with physical limitations or disabilities, has appointed Mark Grant as its new President and Chief Executive Officer, effective June 2, 2025. The company, which InvestingPro data shows has achieved impressive revenue growth of 42% over the last twelve months, is currently trading near its 52-week low of $1.22, significantly below its peak of $5.25. The announcement comes as part of a planned leadership transition, with outgoing CEO Larry Jasinski set to assist as Co-CEO until the end of June and thereafter on an advisory basis through the end of the year.
Mark Grant brings three decades of experience in commercial leadership, having held various roles at Medtronic and more recently at IMRA Surgical. His expertise spans across strategic solutions, channel development, and team management in diverse geographies. Grant’s appointment aligns with Lifeward’s growth strategy and focus on innovation, as noted by Joseph Turk, Chairman of the Lifeward Board of Directors.
In his previous positions, Grant has been instrumental in achieving significant milestones such as securing Medicare payment for Lifeward’s ReWalk exoskeleton and fostering the development of a robust pipeline of cases for the product. The ReWalk exoskeleton is part of Lifeward’s portfolio of life-changing solutions, which also includes the AlterG Anti-Gravity system, the MyoCycle FES System, and the ReStore Exo-Suit.
In conjunction with Grant’s hiring, Lifeward’s Board of Directors approved an inducement award of 400,000 options to purchase ordinary shares of Lifeward, in accordance with Nasdaq Listing Rule 5635(c)(4), vesting over four years and contingent upon his continued employment. The company maintains a strong financial position, with InvestingPro analysis showing a healthy current ratio of 2.18 and more cash than debt on its balance sheet.
Lifeward, founded in 2001, operates in the United States, Israel, and Germany, and is committed to driving innovation that empowers individuals with physical challenges. This leadership change reflects Lifeward’s ongoing commitment to growth and profitability while enhancing the quality of life for its customers. According to InvestingPro, analysts maintain a positive outlook on the stock with price targets ranging from $3 to $13, suggesting significant potential upside from current levels. For deeper insights into Lifeward’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
The company’s forward-looking statements indicate a focus on continued innovation and market expansion, while also acknowledging the risks and uncertainties inherent in product development, regulatory approval processes, and market acceptance. This news is based on a press release statement from Lifeward Ltd.
In other recent news, Lifeward Ltd. has reported preliminary financial results for the first quarter of 2025, revealing approximately $5.0 million in revenue against operating expenses projected between $6.5 million and $6.7 million. These figures are preliminary and subject to change following a financial review. In addition, Lifeward announced the national launch of its ReWalk 7 Personal Exoskeleton in the United States, which has received FDA clearance. The device is designed to aid individuals with spinal cord injuries and includes features like cloud connectivity and customizable walking speeds.
The company also disclosed that Charles Remsberg, Chief Sales Officer, will leave the company effective May 30, 2025, under a termination without cause agreement. Meanwhile, H.C. Wainwright has reaffirmed its Buy rating for Lifeward, maintaining a price target of $13.00, following Lifeward’s recent corporate updates and financial disclosures. Despite a challenging fourth quarter in 2024, where Lifeward missed earnings forecasts with a revenue of $7.5 million, the company remains focused on reducing operating expenses and targeting sustainable growth in 2025.
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