ReWalk Gains FDA Approval
ReWalk, an exoskeleton walking device for wheelchair bound individuals, recently gained approval for home and communal use from the United States Food and Drug Administration. The device is the brainchild of Dr. Amit Goffer, whose Israeli based ARGO Medical Technologies now seeks to raise $50-60 Million on Nasdaq. Powered by a computer and motion sensors rather than robots, ReWalk mimics the natural walking pattern as it enables those with spinal cord injuries to learn to walk again after using the ReWalk training process and rehabilitation system. The device’s FDA approval and much anticipated IPO appear signal that ReWalk will soon be available for purchase in the United States. Yet, ReWalk’s upcoming availability will not only provide Americans with revolutionary technology: at a retail price of $69,000, ReWalk will also enable patients to drastically reduce their treatment costs from the hundreds of thousands of dollars that paraplegics regularly pay for medical care. ReWalk’s United States release will provide American customers access to an Israeli technology that has already changed the lives of many European customers.
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