Company Creates Exoskeleton to Allow the Paralyzed to Walk Again: ReWalk Robotics Ltd. (NASDAQ:RWLK)

July 18, 2018

Larry Jasinski has served as Chief Executive Officer and as a member of the ReWalk Robotics Ltd. board since February 2012. From 2005 until 2012, Mr. Jasinski served as the President and Chief Executive Officer of Soteira, Inc., a company engaged in development and commercialization of products used to treat individuals with vertebral compression fractures, which was acquired by Globus Medical in 2012. From 2001 to 2005, Mr. Jasinski was President and Chief Executive Officer of Cortek, Inc., a company that developed next-generation treatments for degenerative disc disease, which was acquired by Alphatec in 2005. From 1985 until 2001, Mr. Jasinski served in multiple sales, research and development, and general management roles at Boston Scientific Corporation.

In this 4,545 word exclusive interview with the Wall Street Transcript, Larry Jasinski details his company’s developing efforts to bring their technology to the United States, Germany and the rest of the world.

“ReWalk Robotics provides robotic technology that assists people who need help with lower limb disability. To be more specific, someone who has paralysis can get up and walk through the use of this equipment. In the future, patients who had stroke, Parkinson’s or MS — multiple sclerosis — we believe will be able to get assistance from robotic devices to allow them to walk.”

ReWalk Robotics is developing new products to access different market segments:

“Relative to the stroke patients, we are showing that we do change the walking pattern and the gait. Three studies are published from Harvard University’s Wyss Institute where the initial concept was developed. Presently, our FDA clinical study is focusing on the safety of the system to support a submission for FDA clearance. Additionally, we will investigate several exploratory endpoints to measure other potential positive impacts for stroke patients.”

The marketing strategy hinges on the ability of the company to acquire reimbursement rights from various healthcare payers around the world.

“Now, what we have to do is to broaden that to other commercial payers in Europe and beyond. We have 282 documented applications for systems on top of the almost 500 that we will place here by next quarter. Those are just the ones that are waiting. We have about 100 veterans waiting because they live too far from existing VA centers. While it is encouraging that we have people who are waiting, it is discouraging that they have to wait so long.”

To get the complete picture of ReWalk Robotics, read the enire 4,545 word interview with the CEO in the Wall Street Transcript.