MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, March 22, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (DBA Lifeward™), (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, today applauded the introduction of a Senate companion bill to H.R. 6373, the VA Spinal Trauma Access to New Devices (STAND) Act. The Senate companion bill was introduced by Chairman of the Senate Veterans' Affairs Committee, Senator Jon Tester (D-MT), and the Ranking Member of that committee, Senator Jerry Moran (R-KS).

"We are extremely thankful to all those in the House of Representatives and now the Senate that have either led or co-sponsored this important legislation for paralyzed Veterans," said Larry Jasinski, CEO at Lifeward. "This bicameral, bipartisan approach is a signal to all that Congress is willing to engage on an issue that has an important, life-changing impact on improving visibility and access to technologies like the ReWalk Personal Exoskeleton for Veterans who are clinically eligible and motivated to stand and walk in their daily lives."

This legislation seeks to codify the U.S Department of Veterans' Affairs obligation to perform annual examinations on their spinal cord injury and disorder (SCI/D) Veterans and to assess them for assistive technologies, including powered exoskeletons, increasing the numbers of Veterans that will have access to transformative devices and technologies. The bill also requires VA to report to Congress on their performance regarding the exams and device placements and holds local and regional VA medical centers accountable for performance against these same metrics.

The Senate bill comes on the same day that ReWalk device user and U.S. Marine Corps Veteran, Brittany Elliott, testified in a legislative hearing in front of the House Committee on Veterans' Affairs, Subcommittee on Health regarding the STAND Act. The committee will continue to work toward forwarding the House resolution to the full committee in the coming weeks.

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 systems, the ReStore Exo-Suit, and the MyoCycle FES Systems.

Founded in 2001, Lifeward has operations in the United States, Israel, and Germany. For more information on the Lifeward product portfolio, please visit GoLifeward.com.

ReWalk^®, ReStore^® and Alter G^® are registered trademarks of ReWalk Robotics Ltd. (DBA Lifeward) and/or its affiliates.

Forward-Looking Statements

In 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, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. 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 Lifeward's control. Important factors that could cause the Company's actual results to differ materially from those indicated in the forward-looking statements are more fully discussed in the Company's periodic filings with the Securities and Exchange Commission ("SEC"), including the risk factors described under the heading "Risk Factors" in the Company's annual report on Form 10-K 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, Lifeward undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

Lifeward Media Relations:

LifeSci Communications

E: media@golifeward.com

Lifeward Investor Contact:

Mike Lawless

Chief Financial Officer

Lifeward

E: ir@golifeward.com

VA STAND Act introduced in the United States Senate