Rewalk Robotics (NASDAQ:RWLK) had a good day as the company’s stock was skyrocketing following a revision to the company’s national policies from the U.S. Department of Veterans Affairs (VA)
The Israel-based company said that the aforementioned agency issued a revision to the company’s national policy regarding its exoskeleton medical device training and procurement for qualifying Veterans with spinal cord injury (SCI). The new policy includes additional guidance throughout the evaluation process of this treatment.
Plus, the announcement also means that more veterans will have access to Rewalk Robotics training program locations across the VA network, as well as expanded access to private rehabilitation centers through the company’s Veterans Choice Program.
The new policy was issued back in June 2018 and it is an update to the company’s standard operating policy (SOP) that was issued by the VA in December 2015. The new evaluation process will now include access to all veterans for one of the 24 designated spinal cord injury VA centers (SCI/D).
Once a veteran is determined to be qualified for training and procurement of his or her own exoskeleton system, each individual may have the option of pursuing training in one of three ways: at an applicable SCI/D hub center, at a qualified VA hospital designated by the VA’s “hub & spoke” program, or at a qualified private rehabilitation center through the VA’s Veterans Choice Program, which is a program through which Veterans can receive care from a community provider that’s paid for by the VA.
RWLK stock went absolutely gangbusters on Friday as shares were up about 69.5% by mid-afternoon today following the news.