German Federal Social Court Schedules Hearing on Classification of Exoskeleton Medical Devices for Spinal Cord Injured Individuals

MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILIT, Israel, Sept. 12, 2022 (GLOBE NEWSWIRE) — ReWalk Robotics, Ltd. (Nasdaq: RWLK) (“ReWalk” or the “Company”), a leading manufacturer of robotic medical technology for people with lower extremity disabilities, today announced the German Federal Social Court has scheduled a hearing to review the decision of whether an exoskeleton medical device should be classified as directly or indirectly compensating for the lost function of individuals with spinal cord injuries or paraplegia. The hearing is scheduled for November 10, 2022.

The court’s decision will establish a new national policy for exoskeleton medical aids and will apply nationally to all Germans covered by Statutory Health Insurance (SHI). Establishing a legal classification for exoskeletons will provide guidance for both patients and insurance companies, setting a reliable legal basis for the application process for the provision of exoskeletons.

“The multitude of benefits that patients experience from regaining the ability to stand and walk again with the use of a ReWalk exoskeleton have made it clear that restoring walking function after spinal cord injury is a basic need,” says Larry Jasinski, CEO of ReWalk Robotics. “The German healthcare system has led the way in its adoption of exoskeletons for spinal cord injured individuals. By establishing a clear classification for exoskeleton medical aids, the court will provide important, national guidance to payers and patients in the application process for care and create a pathway to providing access to this innovative technology for all eligible users in Germany through an established supply process. We look forward to the upcoming decision.”

For more information on ReWalk Robotics and the ReWalk exoskeleton, visit rewalk.com.

About ReWalk Robotics Ltd.

ReWalk Robotics Ltd. develops, manufactures and markets wearable robotic exoskeletons for individuals with lower limb disabilities as a result of spinal cord injury or stroke. ReWalk’s mission is to fundamentally change the quality of life for individuals with lower limb disability through the creation and development of market leading robotic technologies. Founded in 2001, ReWalk has headquarters in the U.S., Israel and Germany. For more information on the ReWalk systems, please visit rewalk.com.

ReStore® is a registered trademark of ReWalk Robotics Ltd. in the United States, Europe and the United Kingdom.

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements may include projections regarding ReWalk’s future performance and other statements that are not statements of historical fact and, in some cases, may be identified by words like “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “should,” “would,” “seek” and similar terms or phrases. The forward-looking statements contained in this press release are based on management’s current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of ReWalk’s control. Important factors that could cause ReWalk’s actual results to differ materially from those indicated in the forward-looking statements are more fully discussed in ReWalk’s periodic filings with the Securities and Exchange Commission (“SEC”), including the risk factors described under the heading “Risk Factors” in ReWalk’s annual report on Form 10-K and 10-K/A for the year ended December 31, 2021 filed with the SEC and other documents subsequently filed with or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. Factors or events that could cause ReWalk’s actual results to differ from the statements contained herein may emerge from time to time, and it is not possible for ReWalk to predict all of them. Except as required by law, ReWalk undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

Investor Contact:
Almog Adar
Director of Finance
ReWalk Robotics Ltd.
T: +972-4-9590130
E: investorrelations@rewalk.com

Media Contact:
John Tomlin
E: media@rewalk.com