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ReWalk Robotics, a robotics company specializing in building exoskeletons to help people with mobility challenges, has renewed its lease at its Marlborough offices.
The company negotiated a new lease on its 11,854-square-foot office space at 200 Donald Lynch Blvd. with Worcester-based landlord Minardi MetroWest Properties, according to a Saturday press release from Wayland-based R.W. Holmes Commercial Real Estate.
R.W. Holmes President Garry Holmes represented ReWalk and Executive Vice President Philip DeSimone of Kelleher & Sadowsky Associates represented the landlord.
Financial terms were not disclosed.
Other tenants at 200 Donald Lynch Blvd. are Lifeline Systems, which leased 40,000 square feet of office space in August, and German firm Sartorius Stedim Biotech which is renovating 56,000 square feet in the building for lab space.
ReWalk is a publicly-traded company based in Marlborough; Berlin, Germany; and Yokneam Illit, Israel. On May 11, the company reported that first quarter revenue was up 40% over the first quarter 2022. In March, the company received clearance from the U.S. Food and Drug Administration for use of its exoskeleton on stairs and curbs. It is the first such device to receive that clearance, according to a March press release from ReWalk.
“Our execution and positive progress in Q1 advanced us towards achieving the goals we set for 2023,” ReWalk CEO Larry Jasinski said in a May 11 press release. “Specifically, our first Medicare claim submission was made to test and develop the correct pathway for processing for our innovative, breakthrough product. We believe the interaction with Centers for Medicare and Medicaid Services and the Medicare Administrative Contractor has helped to define a path for this first submission and set the parameters for 10 additional planned submissions in Q2.”
“We achieved a major milestone with FDA clearance of the ReWalk exoskeleton for use on stairs and curbs, expanded the number of VA centers that train ReWalk users, and increased our German case submissions, all of which we believe will favorably impact year-over-year growth in 2023 and 2024.”
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