ReWalk Robotics develops, manufactures and markets wearable robotic exoskeletons for individuals with lower limb disabilities as a result of spinal cord injury or stroke
ReWalk Robotics, Ltd. (Nasdaq: RWLK) (“ReWalk,” “we” or the “Company”), a manufacturer of robotic medical devices for individuals with lower limb disabilities, has finalized and moved to implement two separate agreements to distribute additional product lines in the United States market. Upon commencement of the effective periods of these agreements, the Company will be the exclusive distributor of the MediTouch Tutor movement biofeedback systems in the United States, and will also have distribution rights for the MYOLYN MyoCycle Functional Electrical Stimulation (“FES”) cycles to U.S. rehabilitation clinics and personal sales through the U.S. Department of Veterans Affairs (“VA”) hospitals.
“The addition of these products, which will be sold through our existing direct field sales and training teams, provides value to us in multiple ways,” says Andy Dolan, Vice President of Marketing at ReWalk. “These impressive technologies serve similar clinician and patient profiles as our current products which presents an opportunity to increase same-site sales, and offering a broader portfolio of solutions also potentially expands our access to new customers. The MediTouch Tutor devices will also give us an entry into the telehealth capable products category to leverage recent COVID-19 related reimbursement changes and trends in rehabilitative care.”
The MediTouch Tutor movement biofeedback product line includes the Arm, Hand, 3D and Leg Tutor devices. These devices are used by physical and occupational therapists to evaluate functional tasks during rehabilitation of neurologic disorders, and can also be used by patients remotely at home. The system consists of sensors attached to textiles worn on the patient’s hand, arm or leg to detect motion and a web-based program which uses game play to provide instruction and motivation to the patient user. The program also captures and evaluates patient progress and provides feedback to the clinician.
“Entering the US physical rehabilitation clinic and home telehealth markets with our innovative wearable devices and web-based MediTutor app in order to provide the best clinical care and affordable cost effective treatment, while enabling social distancing specifically during this pandemic is a key goal for our company, and we believe that this partnership with ReWalk gives us the customer access we need,” said Giora Ein-ZVi, CEO of MediTouch.
The MYOLYN MyoCycles use FES to facilitate therapeutic exercise for persons with muscle weakness or paralysis caused by disorders like spinal cord injury, multiple sclerosis, and stroke. Similar to the ReWalk exoskeleton, these devices can be used in a clinic for rehabilitation or training for an individual to eventually use their own at home. Both the MyoCycle Pro for clinic use and MyoCyle Home for patient home use have Federal Supply Schedule (“FSS”) contracts to facilitate sales to VA hospitals and patients with VA benefits.
“We are thrilled to bring together ReWalk’s world-class sales team and MYOLYN’s innovative FES technology. Sales of the MyoCycle FES Cycling Therapy System are already growing rapidly and, with this partnership, MYOLYN and ReWalk are poised to accelerate that growth to bring the technology to even more people who need it. The neuro-rehab industry is highly fragmented so this partnership creates a substantial competitive advantage and builds long-term value by uniting complementary products serving the same market,” said Alan Hamlett, PhD, Co-Founder and CEO of MYOLYN, LLC.
The Company previously discussed these agreements on its Q1 earnings call and is providing more detail at this time as it plans to implement them. The companies are currently preparing to train ReWalk’s field teams on these devices and expect to launch commercial activities in July 2020.
Source: Company Press Release