Direct sales of AlterG products through the Lifeward GmbH sales team expected to improve margins and increase AlterG revenues in Germany, accelerating Lifeward’s path to profitability

MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILLIT, Israel, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Lifeward Ltd. (Nasdaq: LFWD) (“Lifeward” or the “Company”), a global market leader delivering life-changing solutions to revolutionize what is possible in rehabilitation, recovery, and the pursuit of life’s passions in the face of physical limitation or disability, announced today that it will begin selling the AlterG family of products through its German sales organization, effective immediately. The announcement was made at today’s REHACARE 2024 conference in Düsseldorf, Germany, where the new AlterG NEO will be available for live demonstrations and purchase.

The move adds the AlterG product line to the ReWalk Personal Exoskeleton in Lifeward’s German sales portfolio. The Company expects several financial benefits from selling directly, including greater revenue due to a more focused sales effort and higher margins with little incremental investment by utilizing its existing sales and support infrastructure in Germany.

“We believe that there is significant potential to expand penetration of the German market through a more aggressive selling and marketing approach. By leveraging Lifeward’s direct sales organization and infrastructure, we believe we are better positioned to meet the needs of the market and do so more efficiently with higher margins,” said Larry Jasinski, Chief Executive Officer. “By realigning our focus on growing the AlterG revenues in Germany, we believe we can accelerate our path to profitability in Germany and globally.”

“Our team in Germany is poised capitalize on our existing relationships with customers to grow the German market for AlterG,” said Charles Remsberg, Chief Sales Officer. “With the experience we gained earlier this year in the US, we are confident that we have the team and plan in place to maximize our efficiencies and dedicate our attention to growing the ReWalk and AlterG markets in Germany.”

AlterG products have been available to customers in Germany since 2013 through a distribution arrangement with PHYSIOMED GROUP (formerly proxomed Medizintechnik GmbH). Under this existing contract, PHYSIOMED GROUP will continue to provide service and support to its existing base of nearly 500 customers in Germany and will continue to distribute AlterG units in parallel with the Lifeward team.

About Lifeward
Lifeward 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 MyoCycle FES System, and the ReStore Exo-Suit.