Lifeward signs contractual agreement with BARMER, Germany’s second largest statutory health insurance company, to streamline access to ReWalk Personal Exoskeletons for eligible beneficiaries
Following this agreement, approximately 45% of people with Statutory Health Insurance in Germany now have coverage policies with a defined reimbursement process for personal exoskeletons
MARLBOROUGH, Mass. and BERLIN, Germany, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Lifeward Ltd. (Nasdaq: LFWD) (“Lifeward” or the “Company”), a global leader in innovative medical technology to transform the lives of people with physical limitations or disabilities, today announced that it has finalized its agreement with BARMER, Germany’s second largest statutory health insurer, to formalize the reimbursement process for the provision of ReWalk Exoskeletons to medically eligible beneficiaries.
“We are extremely pleased to streamline access for eligible individuals with spinal cord injury among the millions of people insured by BARMER.,” said Larry Jasinski, Chief Executive Officer at Lifeward. “As a result of BARMER’s leadership position in the German healthcare market, we believe this agreement will help set a precedent for further expansion of insurance coverage for exoskeletons in Germany and worldwide. In the past year, we have seen an acceleration in reimbursement policies, with Medicare in the U.S., state coverage in Hungary, and now BARMER in Germany. Lifeward is well positioned to further expand access through submissions to Medicare Advantage Programs and other U.S. commercial payers.”
With over 8.5 million insured beneficiaries, BARMER has already provided 20 ReWalk Personal Exoskeletons to beneficiaries in recent years, making it the leading insurer in Germany in terms of coverage for personal exoskeletons. Under this agreement, the reimbursement process and procedures are formally defined for medically eligible beneficiaries to receive a ReWalk Personal Exoskeleton for everyday use.
“This contract offers our policyholders high quality standards, which Lifeward, as a high-performance contractual partner, complies with for every supply. In addition, the contractual agreement enables us to establish sustainable structures in the supply of exoskeletons,” said a representative from the contract department at BARMER.
To learn more about the ReWalk Exoskeleton, please visit the Lifeward website.
About Lifeward
Lifeward designs, develops, and commercializes life-changing solutions that span the continuum of care in physical rehabilitation and recovery, delivering proven functional and health benefits in clinical settings as well as in the home and community. Our mission at Lifeward is to relentlessly drive innovation to change the lives of individuals with physical limitations or disabilities. We are committed to delivering groundbreaking solutions that empower individuals to do what they love. The Lifeward portfolio features innovative products including the ReWalk Exoskeleton, the AlterG Anti-Gravity System, the MyoCycle FES System, and the ReStore Exo-Suit.
Founded in 2001, Lifeward has operations in the United States, Israel, and Germany. For more information on the Lifeward product portfolio, please visit GoLifeward.com.
Lifeward®, ReWalk®, ReStore® and Alter G® are registered trademarks of Lifeward Ltd. and/or its affiliates.
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, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements may include projections regarding Lifeward's future performance and future regulatory interactions 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 Lifeward’s control. Important factors that could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements are more fully discussed in the Company’s periodic filings with the Securities and Exchange Commission (“SEC”), including the risk factors described under the heading "Risk Factors" in the Company’s annual report on Form 10-K and 10-K/A for the year ended December 31, 2023 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 the Company’s actual results to differ from the statements contained herein may emerge from time to time, and it is not possible for the Company to predict all of them. Except as required by law, Lifeward undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.
Lifeward Media Relations:
Kathleen O’Donnell
VP Marketing & New Business Development
Lifeward Ltd.
E: media@golifeward.com
Lifeward Investor Contact:
Mike Lawless
Chief Financial Officer
Lifeward Ltd.
E: ir@golifeward.com
