AlterG’s systems use NASA-derived Differential Air Pressure technology to counteract the effects of gravity to help individuals to move in new ways with precise support and less discomfort
AlterG acquired by Nasdaq-listed medical device firm ReWalk Robotics. (Credit: Cytonn Photography on Unsplash)
Nasdaq-listed ReWalk Robotics has wrapped up the previously announced $19m acquisition of mobility enhancement products developer AlterG.
Established in 2005, AlterG creates, produces, and sells Anti-Gravity systems. These systems utilise NASA-derived Differential Air Pressure technology to counteract gravity’s effects, which enables individuals to move in novel ways with precise support and less discomfort.
The AlterG systems, with over 4,000 installations worldwide, are said to have aided millions in attaining their objectives and improving mobility outcomes reliably and safely.
The Anti-Gravity systems offered by AlterG include the FIT Anti-Gravity Treadmill, the VIA Anti-Gravity Treadmill, and the AlterG PRO Anti-Gravity Treadmill. The technology of the AlterG Anti-Gravity Treadmill is said to bring together precise unweighting technology with real-time gait analytics and video feedback.
By utilising a pressurised air chamber to consistently decrease gravitational load and body weight in exact intervals of 1%, AlterG empowers patients and athletes to move without limitations and without discomfort. The process helps in revitalising and developing muscle strength, expanding range of motion, and enhancing balance, function, and overall fitness.
ReWalk Robotics CEO Larry Jasinski said: “We are exceedingly pleased to have now formally combined the unique and complementary strengths of our two organisations.
“We now look forward to applying our respective competencies and leveraging our synergies to expand clinician and patient access to the innovative technologies within our combined portfolio.”
As per the terms of the deal announced earlier this month, ReWalk Robotics paid the consideration in cash.
The deal also includes provisions for ReWalk Robotics to potentially make two earnout payments. These would be calculated as a percentage of AlterG’s year-over-year revenue growth during the two consecutive 12-month periods following the closure of the transaction.
Following the completion of the transaction, Charles Remsberg, the former CEO of AlterG, took on the role of chief sales officer at ReWalk Robotics.
Established in 2001, ReWalk Robotics is a medical device firm focused on creating, advancing, and bringing to market technologies that enhance mobility and well-being for individuals with neurological conditions, both in rehabilitation and in their daily lives.