Lifeward Announces Appointment of Joseph E. Turk as Incoming Chairman of its Board of Directors

MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, July 02, 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 announced that Jeff Dykan, current Chairman of the Lifeward Board of Directors, will retire from his role and will not stand for reelection effective at the 2024 Annual Meeting of Shareholders. Joseph Turk, who has served on Lifeward's Board since 2022, has been appointed as the incoming Chairman and will assume the role following the upcoming shareholder meeting.

Under Mr. Dykan's leadership, Lifeward (previously ReWalk Robotics) has thrived as it grew from an early-stage concept, attracted a management team to lead development, navigated regulatory clearances - including a De Novo approval with the FDA, conducted an IPO, established an exoskeleton coverage policy for U.S. Veterans under the VA, acquired AlterG to grow its portfolio, and most recently, established reimbursement for personal exoskeletons under Medicare. Lifeward is greatly appreciative of Mr. Dykan's guidance and leadership throughout the Company's history of pioneering the exoskeleton and physical rehabilitation industries.

"I am extremely honored to have served as Chairman of ReWalk Robotics, and now Lifeward, throughout such a rich period in the history of this Company," said Mr. Dykan. "Our initial vision was to enable all individuals with spinal cord injury to walk again in their everyday lives, and we have come a tremendous way toward achieving that goal. I am so proud of all that we have achieved together, and I am confident that the refreshed and experienced Board is in good hands under Joe's leadership with the overall expertise in commercialization."

"Lifeward has benefitted greatly from Jeff's leadership as he guided the Company's growth from an initial concept into the commercial business it is today," continued Joseph Turk, incoming Chairman of Lifeward. "Thanks to Jeff's efforts in establishing this company – and this industry, we are now able to shift our focus toward commercial expansion and market development across both our ReWalk and AlterG product lines. We wish Jeff all the best as he steps down from his current role and extend our sincere gratitude for all his years of service."

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 and 10-K/A, as amended, 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: [email protected] 

Lifeward Investor Contact:

Mike Lawless

Chief Financial Officer

Lifeward

E: [email protected]