Lifeward entered into an agreement to acquire technology assets and knowledge, including functional prototypes, from Skelable, developer of a robotic upper-body orthotic device, for $480,000 in Lifeward equity.
As part of the acquisition, Skelable’s key engineering team will join Lifeward to ensure continuity of knowledge, and the transfer of technology, intellectual property, and design intent into Lifeward’s development framework.
The acquired technology will enable commercialization of an orthotic system designed to assist and enhance functional movement in individuals with weakened or paralyzed arms and hands, primarily following stroke. Lifeward expects the new exoskeleton to be ready for commercial launch in 18 to 24 months.
“This upper-limb orthotic technology is a natural extension of our ReWalk platform and accelerates Lifeward’s evolution into a fully integrated, whole-body neuro-rehabilitation company,” said Mark Grant, president and CEO. “This acquisition expands our addressable market, enhances commercial efficiency through shared channels, and strengthens our position across payers and prescribers. We are also adding exceptional engineering talent that will significantly expand our internal [research and development] capabilities and accelerate innovation across our platform.”
Lifeward expects to leverage established pathways within the Centers for Medicare & Medicaid Services that are applicable to upper-extremity powered orthoses and robotic assistive devices for the new exoskeleton.
