ReWalk Robotics (Nasdaq:RWLK) announced today that it successfully demonstrated proof-of-concept with its next-generation exoskeleton.
The Israel-based company, which operates out of Marlborough, Massachusetts, in the U.S., incorporated AI into its latest technology. It integrated advanced sensing technologies and AI to enable autonomous decision-making in the new exoskeleton prototype.
ReWalk hit this milestone as part of the Israel Innovation Authority’s MAGNET incentive program, the Human Robot Interaction Consortium.
David Hexner, ReWalk VP of R&D, said in a news release that the exoskeleton can detect and react to changes in terrain. This could lead to a potentially new generation of smart exoskeletons, according to Hexner. He said the company aims to make its technologies easier and safer to use while reducing the cognitive load on the user. ReWalk hopes to broaden the use case to more activities of everyday life.
This marks another positive development for ReWalk, which recently earned a major reimbursement win. Starting on Jan. 1, 2024, the Centers for Medicare & Medicaid Services (CMS) will cover exoskeletons in the Medicare brace benefit category.
In the rule, CMS says the exoskeleton changes can expedite coverage and payment for newer technology and powered devices. Particularly, it could help those with disabilities associated with muscular and/or neural conditions. The rule finalizes a clear coverage pathway reimbursed by Medicare on a lump-sum basis.
“With today’s announcement, ReWalk continues its tradition of innovation in the design and practical use of exoskeletons for individuals living with spinal cord injury,” said Larry Jasinski, CEO of ReWalk. “As our recent success with Medicare continues to broaden coverage for exoskeletons, ReWalk is committed to making exoskeletons more accessible and easier to use with each generation. We are excited to fully incorporate these advancements into future ReWalk exoskeletons.”
