Lifeward and CorLife Finalize Partnership to Expand Workers' Compensation Access to ReWalk Exoskeleton

March 06, 2025 08:00 ET | Source: Lifeward Ltd. CorLife to become the exclusive distributor of the ReWalk Personal Exoskeleton for individuals with Workers’ Compensation claims Partnership expected to enable Lifeward to achieve greater growth and penetration into the Workers’ Compensation market MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel and GREEN BAY, Wis., March 06, 2025 (GLOBE NEWSWIRE) -- Lifeward Ltd., (Nasdaq: LFWD) (“Lifeward”) a global leader in innovative medical technology to transform the lives of people with physical limitations or disabilities, and CorLife, LLC., (“CorLife”) a division of Numotion, the nation’s leading and largest provider of products and services that provide mobility, health and personal independence, jointly announced today that the companies have finalized an agreement for CorLife to become the exclusive distributor for the ReWalk Personal Exoskeleton for individuals with Workers’ Compensation claims. The ReWalk Personal Exoskeleton is a lower-body exoskeleton that enables paralyzed individuals with spinal cord injuries (“SCI”) to stand and walk in everyday life and is an essential tool for maintaining health and wellness after SCI. The ReWalk Exoskeleton is the only personal exoskeleton that offers the ability to ascend and descend stairs and curbs, making it the most accessible exoskeleton for use in real-world environments in the home and community setting. This agreement leverages CorLife’s extensive network of credentialed providers and experts to include the ReWalk Personal Exoskeleton among the services and equipment they provide to thousands of injured workers each year. Additionally, the CorLife reimbursement team will manage all workers’ compensation claims submissions for the ReWalk Personal Exoskeleton. “We are thrilled to expand our capabilities to better serve the needs of injured workers with SCI,” said Larry Jasinski, CEO of Lifeward. “Partnering with CorLife allows us to significantly increase awareness of the benefits of the ReWalk Personal Exoskeleton among individuals with workers’ compensation and utilize CorLife’s established expertise to facilitate efficient processing of claims.” “As a leader in the workers’ compensation industry, CorLife is dedicated to providing comprehensive care for injured workers, including mobility equipment, medical supplies, and home health care. Our commitment to fostering strategic partnerships allows us to deliver the most advanced and innovative mobility solutions to those we serve,” said Brad Sewell, Executive Director of CorLife. “We are excited to collaborate with Lifeward to expand access for individuals living with spinal cord injuries sustained on the job. Through this partnership, we aim to provide access to the ReWalk Personal Exoskeleton, empowering individuals to experience the health benefits and enhanced mobility that this groundbreaking technology offers.” For more information, please visit GoLifeward.com and CorLife.com About LifewardLifeward designs, develops, and commercializes life-changing solutions that span the continuum of care in physical rehabilitation and recovery, delivering proven functional and health benefits in clinical settings as well as in the home and community. Our mission at Lifeward is to relentlessly drive innovation to change the lives of individuals with physical limitations or disabilities. We are committed to delivering groundbreaking solutions that empower individuals to do what they love. The Lifeward portfolio features innovative products including the ReWalk Exoskeleton, the AlterG Anti-Gravity System, the ReStore Exo-Suit, and the MyoCycle FES System. Founded in 2001, Lifeward has operations in the United States, Israel, and Germany. Lifeward®, ReWalk®, ReStore®, and Alter G® are registered trademarks of Lifeward Ltd. and/or its affiliates. About CorLifeCorLife, a division of Numotion, personalizes the ancillary benefits experience for workers' compensation carriers, third-party administrators, self-insured businesses, and injured workers nationwide, offering 1:1 concierge-level service. With transparent, competitive pricing, and exceptional service, CorLife provides peace of mind to clinical teams, case managers, adjusters, and plan members. The company maintains an extensive nationwide network of credentialed clinical providers and experts through its CorLife network, offering services such as durable medical equipment, medical supplies, home access, home modifications, wheelchair-accessible vehicles, home healthcare, and more. CorLife is committed to quickly and cost-effectively developing personalized solutions for critically injured workers. In collaboration with Numotion, CorLife employs over 500 Assistive Technology Professionals (ATPs) who provide unparalleled clinical expertise for complex cases. As a comprehensive, full-spectrum healthcare services provider, CorLife addresses both short-term and long-term medical needs, eliminating the need for multiple ancillary service providers. CorLife is dedicated to delivering personalized service, attention to detail, exceptional value, and positive outcomes. Forward-Looking StatementsIn 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, and Section 21E of the U.S. Securities Exchange Act of 1934. Such forward-looking statements may include projections regarding the Company'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 the Company’s control. Important factors that could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements include, among others: the Company’s ability to realize the anticipated benefits of the acquisition of AlterG, including the possibility that the expected benefits of the acquisition will not be realized within the expected time period or at all; the effect of the AlterG acquisition on the ability of the Company to retain customers and key personnel and to maintain relationships with suppliers, distributors and other key business relations; potential litigation in connection with the AlterG acquisition; uncertainties associated with future clinical trials and the clinical development process, the product development process and FDA regulatory submission review and approval process; the Company's ability to have sufficient funds to meet certain future capital requirements, which could impair the Company's efforts to develop and commercialize existing and new products; the Company's ability to maintain and grow its reputation and the market acceptance of its products; the Company's ability to achieve reimbursement from third-party payors, including CMS, for its products; the Company's limited operating history and its ability to leverage its sales, marketing and training infrastructure; the Company's expectations as to its clinical research program and clinical results; the Company's expectations regarding future growth, including its ability to increase sales in its existing geographic markets and expand to new markets; the Company's ability to obtain certain components of its products from third-party suppliers and its continued access to its product manufacturers; the Company’s ability to navigate any difficulties associated with moving production of its AlterG Anti-Gravity Systems to a contract manufacturer; the Company's ability to improve its products and develop new products; the Company's compliance with medical device reporting regulations to report adverse events involving the Company's products, which could result in voluntary corrective actions or enforcement actions such as mandatory recalls, and the potential impact of such adverse events on the Company's ability to market and sell its products; the Company's ability to gain and maintain regulatory approvals; the Company's ability to maintain adequate protection of its intellectual property and to avoid violation of the intellectual property rights of others; the risk of a cybersecurity attack or breach of the Company's IT systems significantly disrupting its business operations; the Company's ability to use effectively the proceeds of its offerings of securities; and other factors discussed under the heading "Risk Factors" in the Company’s annual report on Form 10-K, as amended, for the year ended December 31, 2023 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 the Company’s actual results to differ from the statements contained herein may emerge from time to time, and it is not possible for the Company to predict all of them. Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise. Lifeward Media Relations:Kathleen O’DonnellVice President, Marketing & New Business DevelopmentLifeward Ltd.E: media@golifeward.com Lifeward Investor Contact:Mike LawlessChief Financial OfficerLifeward Ltd.E: ir@golifeward.com

Lifeward and CorLife Finalize Partnership to Expand Workers' Compensation Access to ReWalk Exoskeleton

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