Lifeward receives CE mark for ReWalk 7 exoskeleton in Europe

MARLBOROUGH, Mass. - Lifeward Ltd. (NASDAQ:LFWD), a medical device company currently valued at $8.32 million, has received CE mark approval for its ReWalk 7 Personal Exoskeleton, allowing for commercial sales in Europe, the company announced Monday. According to InvestingPro analysis, the company holds more cash than debt on its balance sheet, though it’s currently trading near its 52-week low of $0.50.

The seventh-generation exoskeleton features cloud connectivity, push-button control, customizable walking speeds, and improved stair and curb navigation capabilities for individuals with spinal cord injuries.

Europe represents approximately 40% of Lifeward’s exoskeleton sales, with Germany being the company’s second-largest market globally. The company operates in Europe through Lifeward GmbH, which has established supply contracts with several major German insurance carriers, including BARMER, covering approximately 45% of people with statutory health insurance in Germany. With annual revenue of $24.43 million, Lifeward faces challenges as InvestingPro data shows it’s quickly burning through cash, with analysts not anticipating profitability this year.

"Achieving CE mark approval is a pivotal regulatory milestone for Lifeward," said Mark Grant, CEO of Lifeward, according to the press release.

The ReWalk exoskeleton has been available in Europe since receiving its initial CE mark in 2010. The latest version builds on previous generations with enhanced features aimed at improving mobility for users with physical limitations.

Lifeward, founded in 2001, designs and develops rehabilitation solutions including the ReWalk Exoskeleton, AlterG Anti-Gravity System, ReStore Exo-Suit, and MyoCycle FES System. The company maintains operations in the United States, Israel, and Germany.

This information is based on a company press release statement.

In other recent news, Lifeward Ltd. has made several notable announcements. The company appointed Almog Adar as its new Chief Financial Officer, a position he steps into after serving as Vice President of Finance and Chief Accounting Officer since 2020. In addition, Lifeward’s shareholders approved the 2025 Incentive Compensation Plan during the Annual Meeting, which enables stock-based awards for its officers, directors, and employees. The company also revealed an expanded distribution partnership for its AlterG product lines in the United Arab Emirates and the Gulf Cooperation Council, building on an existing relationship with SportsMed Products Ltd.

Furthermore, Lifeward announced a public offering priced at $2.6 million, involving 4 million ordinary shares and accompanying warrants, which will allow holders to purchase additional shares. The offering is expected to dilute existing shareholders. Additionally, Lifeward has made changes to its Board of Directors, appointing Mark Grant as a Class II director, while Larry Jasinski will resign from the board and continue in an advisory role until the end of the year. These developments reflect Lifeward’s ongoing efforts to strengthen its financial and operational strategies.

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