ReWalk Robotics (RWLK) Says Italian Workers Compensation Insurer Issues National Coverage Policy for Its Exoskeletons

March 21, 2018 8:23 AM EDT

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ReWalk Robotics Ltd. (Nasdaq: RWLK) ("ReWalk" or "the Company"), a leading manufacturer of robotic exoskeletons, today announced that INAIL, the Italian Ministry of Labor and Social Policy's statutory insurance corporation, has put in place a coverage policy that will provide exoskeleton systems for all qualifying beneficiaries. This policy, the first of its kind in Italy, will provide individuals with spinal cord injury access to obtain their own medical device so that they can stand and walk again. Importantly, the INAIL policy is now in effect. Beneficiary claims are expected to begin assessment for coverage immediately. "The INAIL policy is a milestone in the adoption of exoskeleton technology for the people of Italy, and will serve as a precedent in helping many more injured workers around the world gain access to this impactful medical device," said ReWalk CEO Larry Jasinski.

The INAIL policy is one of a series of national coverage announcements from major European national insurers, and follows the decision of the German statutory health insurance body to list the ReWalk 6.0 Exoskeleton System in the German Medical Device Directory. This trend sees insurers moving towards broad policy application for procurement and reimbursement of exoskeletons.

"We are encouraged by the series of similar decisions by insurers and other payers, and continue to work diligently with providers worldwide to develop coverage policies for spinal cord injured beneficiaries," Jasinski added.

About ReWalk Robotics Ltd.ReWalk Robotics Ltd. develops, manufactures and markets wearable robotic exoskeletons for individuals with spinal cord injury. Our 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.ReWalk® is a registered trademark of ReWalk Robotics Ltd. in Israel.

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