Lifeward (LFWD) Streamlines U.S. Operations

Lifeward Ltd. (Nasdaq: LFWD) (“Lifeward” or the “Company”), announced plans today to streamline its U.S. operations including the closing of two U.S. facilities to complete the integration that has followed the acquisition of AlterG in August 2023. The consolidation is expected to save the Company approximately $3 million in operating expenses and improve gross margins by approximately two percentage points when the full impact is achieved.

Following the consolidation, Lifeward will have reduced its total headcount by greater than 35% since the closing of the AlterG acquisition. Key functions located at the affected facilities will be integrated into the operations of the Marlborough, Massachusetts facility, and manufacturing of the AlterG Anti-Gravity Systems will be assumed by Cirtronics Corporation, a nationally recognized contract manufacturer specializing in the manufacture of precision medical devices and instrumentation.

“Lifeward continues to undergo a significant and rapid evolution to a company focused on commercial execution,” said Larry Jasinski, Chief Executive Officer. “This latest phase of integration will contribute to a more profitable, resilient company in the coming years by substantially reducing our operating structure and improving efficiencies and coordination across the Company.”

For more information, please visit GoLifeward.com.

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