New Agreement Expands Distribution Rights to Lifeward to Include Referral Sales for Home Use Applications
MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel and GAINESVILLE, Fla., March 05, 2025 (GLOBE NEWSWIRE) -- Lifeward Ltd., (Nasdaq: LFWD) (“Lifeward” or the “Company”), a global leader in innovative medical technology to transform the lives of people with physical limitations or disabilities, and MYOLYN, Inc. (“MYOLYN”) a leading medical technology company specializing in functional electrical stimulation (“FES”) therapy, jointly announced today that the companies are expanding their exclusive contract to increase patient access to the MyoCycle FES Cycling Therapy System (“MyoCycle”) for home use through the Lifeward organization.
MYOLYN is best known for its innovative, affordable, and easy-to-use MyoCycle, a stationary exercise bike with integrated electrical stimulation to the user’s muscles to provide therapeutic exercise for individuals experiencing muscle weakness or paralysis caused by disorders like spinal cord injury, multiple sclerosis, and stroke. Based on the new contract, Lifeward will add management of referrals and sales of the MyoCycle Home product for patients that are transitioning from clinical use to home use. This expanded contract builds upon the existing distribution agreement between the two companies, under which Lifeward has been managing all hospital and clinic-based sales of the MyoCycle Pro product nationwide, as well as home use sales for individuals with VA and Workers’ Compensation benefits. The new agreement will expand the partnership to include sales to individuals referred by their therapist for home use of the MyoCycle Home. MYOLYN will continue to directly service patients who are already discharged from therapy and want to maximize their health and recovery with a home FES cycling program.
“We are so pleased to grow and strengthen our partnership with MYOLYN,” said Larry Jasinski, CEO of Lifeward. “We see great opportunity to better serve the patients who have completed their therapy in the clinic and want to continue their rehabilitation at home. This agreement will significantly expand Lifeward’s ability to continue to serve these patients, and Lifeward has already built the significant case management infrastructure necessary to support the anticipated growth in the MyoCycle product line, due to the shared nature of these internal resources between the MyoCycle and the ReWalk Exoskeleton.”
“Our mission has always been to make our products accessible to those who need them,” said Alan Hamlet, Co-Founder and CEO of MYOLYN. “By expanding our partnership with Lifeward, we can help more patients receive the care they need and assist them in the transition from clinical to home use.”
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 System, the ReStore Exo-Suit, and the MyoCycle FES System. Founded in 2001, Lifeward has operations in the United States, Israel, and Germany.
Lifeward®, ReWalk®, ReStore®, and Alter G® are registered trademarks of Lifeward Ltd. and/or its affiliates.
About MYOLYN
MYOLYN is an innovative medical technology company dedicated to improving health and human performance by empowering people to move. The company designs, manufactures, and distributes devices that leverage electrical stimulation to improve muscle performance. The company’s flagship product, the MyoCycle FES Cycling Therapy System, enables patients with paralysis to perform therapeutic cycling exercise, maximizing recovery, preventing secondary health consequences, and improving quality of life.
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, and Section 21E of the U.S. Securities Exchange Act of 1934. 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 the Company’s control. Important factors that could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements include, among others: the Company’s ability to realize the anticipated benefits of the acquisition of AlterG, including the possibility that the expected benefits of the acquisition will not be realized within the expected time period or at all; the effect of the AlterG acquisition on the ability of the Company to retain customers and key personnel and to maintain relationships with suppliers, distributors and other key business relations; potential litigation in connection with the AlterG acquisition; uncertainties associated with future clinical trials and the clinical development process, the product development process and FDA regulatory submission review and approval process; the Company's ability to have sufficient funds to meet certain future capital requirements, which could impair the Company's efforts to develop and commercialize existing and new products; the Company's ability to maintain and grow its reputation and the market acceptance of its products; the Company's ability to achieve reimbursement from third-party payors, including CMS, for its products; the Company's limited operating history and its ability to leverage its sales, marketing and training infrastructure; the Company's expectations as to its clinical research program and clinical results; the Company's expectations regarding future growth, including its ability to increase sales in its existing geographic markets and expand to new markets; the Company's ability to obtain certain components of its products from third-party suppliers and its continued access to its product manufacturers; the Company’s ability to navigate any difficulties associated with moving production of its AlterG Anti-Gravity Systems to a contract manufacturer; the Company's ability to improve its products and develop new products; the Company's compliance with medical device reporting regulations to report adverse events involving the Company's products, which could result in voluntary corrective actions or enforcement actions such as mandatory recalls, and the potential impact of such adverse events on the Company's ability to market and sell its products; the Company's ability to gain and maintain regulatory approvals; the Company's ability to maintain adequate protection of its intellectual property and to avoid violation of the intellectual property rights of others; the risk of a cybersecurity attack or breach of the Company's IT systems significantly disrupting its business operations; the Company's ability to use effectively the proceeds of its offerings of securities; and other factors discussed under the heading "Risk Factors" in the Company’s annual report on Form 10-K, 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, the Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.
Lifeward Media Relations: Kathleen O’Donnell Vice President, Marketing & New Business Development Lifeward Ltd. E: media@golifeward.com
