Lifeward, a Marlborough-based medical device company, has expanded its global footprint, partnering with a Singapore-based healthcare group to distribute its exoskeleton throughout Mexico, Thailand, and the United Arab Emirates.
Verita Neuro will be Lifeward’s exclusive exoskeleton distributor throughout all three countries in which the group has already established innovation centers for treatments of neurological and spinal cord injuries, according to a Wednesday press release from Lifeward.
The medical device firm’s new distribution agreement is in alignment with Lifeward’s goal of expanding global access to its ReWalk Personal Exoskeleton, the company’s CEO Mark Grant said in the release. Lifeward’s exoskeletons are wearable, robotic suits, affording mobility to those living with neurological and spinal cord injuries.
“[Verita Neuro’s] hybrid commercial model, combining direct sales in the United States with third-party distribution and servicing in select international markets, is intended to support increased sales volumes while managing operating expenses and advancing long-term, sustainable growth,” Grant said in the release.
Verita Neuro will use Lifeward’s exoskeleton in its in-patient neurorehabilitation program to perform patient-specific setup and training. The company has a global database of more than 25,000 patients with spinal cord injuries.
Verita Neuro is a wholly owned subsidiary of Singapore-based Verita Healthcare Group, that offers diagnostics, treatments, and med-tech solutions for those with spinal cord injuries, brain injuries, and other neurological conditions. The parent company operates throughout the U.S., Asia, Europe, South America and the Middle East.
“As the global pioneer in neurological restoration, Verita Neuro redefined epidural stimulation reconnecting brain-body pathways to regain voluntary movement and vital autonomic functions. We are excited to empower our patients with the most cutting-edge robotic physical rehabilitation systems. Through Lifeward’s ReWalk exoskeleton in our in-patient program, we’re achieving another world first, seamless multimodal enablement,” Julian Andriesz, CEO of Verita Healthcare Group, said in the release.
In November, Lifeward announced its ReWalk 7 Personal Exoskeleton had received its first prior authorization from a UnitedHealthcare Medicare Advantage Plan, meaning the health insurer had approved coverage of the Lifeward device, according to a Nov. 17 press release.
Later, in December, the company announced it had received prior authorization for the exoskeleton from Humana Medicare Advantage Plan.
“This prior authorization approval from a Humana Medicare Advantage Plan represents another significant milestone in payer adoption of the ReWalk Exoskeleton. As coverage broadens and prior authorizations accelerate, we are seeing stronger predictability in reimbursement, healthier cash flow dynamics, and a clearer foundation for scalable, sustainable growth in the U.S. market,” Grant said in a Dec. 3 press release.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
