ReWalk Robotics (NASDAQ:RWLK) news for Thursday concerning a contract for its exoskeletons has RWLK stock soaring higher.
A ReWalk Robotics news release reveals that a German private health insurance company has signed a contract to obtain the company’s exoskeletons. This will have the health insurance company providing them to people suffering from spinal cord injuries.
The contract is specifically for ReWalk Robotics’ ReWalk Personal 6.0 exoskeleton. This is an exoskeleton that can be used by people with spinal cord injuries to allow them to walk again. This allows them to perform actions in their daily lives that they otherwise couldn’t.
Larry Jasinski, CEO of ReWalk Robotics, said the following about the news boosting RWLK stock up today.
“The ready adoption of supply contracts by public and private insurers across Germany supports exoskeleton devices for spinal cord injury becoming a standard of care for qualified beneficiaries. This new insurer is leading by example, and creating meaningful change in the lives of all those who will be able to procure a device and begin ReWalking in their communities.”
The contract for ReWalk Robotics’ ReWalk Personal 6.0 exoskeleton comes after the device was listed on the Medical Device Directory of the National Association of Statutory Health Insurance Funds in Germany in 2018. This listing approves the device for use in the country.
ReWalk Robotics doesn’t reveal the name of the German health insurance company that it has a contract with in its news release.
RWLK stock was up 18.8% as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.