The company intends to begin selling the anti-gravity treadmill technology for physical rehabilitation through its German sales organization.
AlterG first became available to German customers in 2013 through a distribution agreement with Physiomed Group. Under this existing contract, Physiomed continues to provide service and support to its base of nearly 500 customers in Germany. It will continue to distribute AlterG units in parallel with the Lifeward team.
Lifeward acquired AlterG and its anti-gravity technology for approximately $19 million in August 2023. The anti-gravity systems developed by AlterG use patented, NASA-derived differential air pressure technology. They reduce the effects of gravity, allowing people to move in new ways with finely calibrated support and reduced pain. The company launched its new AlterG NEO offering this past June.
This move adds AlterG to the Rewalk Personal Exoskeleton in Lifeward’s German sales portfolio. The company expects a number of financial benefits from direct sales, including greater revenue due to a more focused sales effort. It also expects higher margins with little incremental investment through its existing sales and support infrastructure in Germany.
“We believe that there is significant potential to expand penetration of the German market through a more aggressive selling and marketing approach. By leveraging Lifeward’s direct sales organization and infrastructure, we believe we are better positioned to meet the needs of the market and do so more efficiently with higher margins,” said Larry Jasinski, CEO. “By realigning our focus on growing the AlterG revenues in Germany, we believe we can accelerate our path to profitability in Germany and globally.”
