Days after Lifeward completed an approximately $47-million acquisition, the Marlborough-based mobility device manufacturer secured $20 million in capital funding.
Lifeward issued a combination of securities to two unidentified investors, including equity and debt, according to a Thursday filing with the U.S. Securities and Exchange Commission.
WBJ has reached out to Lifeward to confirm details of the raise.
On March 25, Lifeward completed its acquisition of Oratech Pharmaceuticals, a subsidiary of New York-based Oramed Pharmaceuticals, which develops medical technology to protect proteins in medications and increase their absorption into the body.
Lifeward originally announced in January it would sell up to 49.99% of the company for roughly $47 million from Oramed and another investor. On March 25, the manufacturer reported it had issued 2.26 million shares, 1.3 million warrants, and $10 million in convertible notes to Oramed.
The acquisition came shortly after Lifeward regained compliance with Nasdaq listing requirements on March 11, seven months after first receiving a warning it was at risk of being delisted.
After receiving notice in August that its stock price had fallen below the $1 per share minimum for 30 consecutive business days, the company struggled to raise its stock price.
In February, the manufacturer was granted a 180-day extension. A 1-for-12 reverse stock split in March brought the company back into compliance with every 12 of its shares being consolidated into one.
Founded in 2001 as ReWalk Robotics, Lifeward specializes in mobility devices for individuals with lower-limb disabilities, such as exoskeletons, anti-gravity treadmills, and cycling machines.
In fiscal 2025, the manufacturer generated $22.03 million in revenue, a 14% decrease from fiscal 2024, according to a March 18 SEC filing.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare, manufacturing, and higher education industries.
