ReWalk Robotics (f/k/a Argo Medical) has completed the development of the ReWalk™ exoskeleton which allows a paralyzed individual the ability to walk, stand, sit and climb stairs independently.
This accomplishment improves the users’ mobility, changes the dynamics of their daily interaction with society and allows them to function in broader environmental settings.
Clinical studies and subsequent follow-up experience provide extensive evidence that the product significantly improves the user’s quality of life and overall health.
Penetration of 1% of all wheelchair users (5.8M in Western World) would equal a $2.3 billion dollar market.
Penetration of 15% of the 580,000 well defined potential exoskeleton users would equal a $3.4 billion market.
The ReWalk is the market leader in this emerging market with superior function, maturity of design, production capacity, regulatory, IP, clinical experience, regulatory clearance and readiness to grow.
ReWalk I units (for rehab centers) have both CE and FDA approval.
ReWalk P units (for personal/home use) have a CE mark for sales in Europe and FDA approval was received in June 2014.
Sales of ReWalk I units commenced in 2011 IN Europe and the US and sales of the ReWalk P units in Europe commenced in 2012 and in the US, following receipt of the FDA approval in June 2014.
The Company successfully completed a Nadaq IPO in September 2014.
See video link below of the ReWalk in the 2013 Tel-Aviv Marathon (10Km) and showcased to President Obama: