Marlborough manufacturer sells exoskeletons to VA
Courtesy/ReWalk
A demonstration of ReWalk's exoskeleton systems.
ReWalk Robotics Ltd., a manufacturer of robotic exoskeletons for those with spinal cord injuries, has sold 28 of its systems to the U.S. Department of Veterans Affairs, it announced Thursday.
ReWalk, which has offices in Marlborough and is based in Israel, also sold 20 systems to the VA last year to start a national clinical trial. It has already shipped 20 of the systems for the newest order, which will also support the trial, and will deliver the remaining eight in the second quarter of the year.
The VA's trial is studying the impact of exoskeleton use in personal settings. It is using 160 random patients, half who will wear the ReWalk exoskeleton system and half who will use standard wheelchairs. The trials are taking place at six VA centers across the country.
ReWalk did not disclose financial terms of the deal. The company said it is the first exoskeleton manufacturer in the United States to receive U.S. Food & Drug Administration clearance for use in the home, community and rehabilitation settings.
ReWalk got FDA clearance in 2014, selling 73 units for $3.8 million in revenue in 2015 and 119 for $5.9 million last year.
Analysts are forecast sharp growth for the company in coming years, ReWalk CEO Larry Jasinski said. Insurance coverage will be key to the company's growth, he said, with 199 pending insurance claims and a potential for more demand from the VA.
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