Lifeward’s long-term CEO to resign
Larry Jasinski, CEO of Lifeward
Larry Jasinski, CEO of Marlborough-based mobility device manufacturer Lifeward, will be stepping down from his executive role of the company formerly known as ReWalk Robotics in the second quarter of 2025.
Jasinski’s resignation puts a period at the end of his 13-year tenure with the company and will also mark his resignation from his position on Lifeward’s board of directors, according to a Wednesday press release from Lifeward.
“On behalf of the entire board of directors, we sincerely thank Larry for his unwavering dedication to the Company and the people we serve,” Joseph Turk, chairman of the Lifeward board, said in the release. “Larry has been a true champion in the pursuit of our mission to provide access to technology that changes lives of people with physical limitations or disabilities. We look forward to collaborating with him in the months ahead to ensure a smooth transition and wish him the very best.”
Lifeward’s board has assembled a special committee to conduct a search for Jasinski’s successor.
With locations in Germany and Israel, Lifeward products afford those with physical limitations including those caused by brain injuries, spinal cord injuries, and multiple sclerosis the ability to move independently.
The company manufactures four main offerings: a personal exoskeleton that wraps around a paralyzed individual’s legs and torso, allowing them to walk and maneuver stairs and curbs; an exo-suit to aid restorative functional walking patterns after a stroke; an electrical stimulation cycling bike; and a reduced gravity treadmill.
“I have been thrilled and honored to have led a remarkable team in creating a new industry that allowed the paralyzed community the ability to walk in everyday life. I am grateful and thank all the individuals I worked with on this journey,” Jasinski said in the release.
Founded in 2001 as ReWalk Robotics, the firm rebranded to Lifeward in January 2024 after its August 2023 $19-million cash acquisition of AlterG, a California company specializing in technology for use in physical and neurological rehabilitation. That same month, the company expanded direct sales of its exoskeleton devices into Canada.
“The ReWalk team shepherded a concept to a working device, compiled extensive scientific data, secured regulatory approvals, established capacity to supply, and importantly – delivered patients access to technology through payment coverage by Medicare, German insurers and others. Simply put, we changed lives,” said Jasinski.
Jasinski led Lifeward as it underwent a fraud class action lawsuit in federal court in which plaintiffs alleged the company did not disclose material information with its initial public offering of the firm’s exoskeleton product. The lawsuit was dismissed in 2020.
Lifeward’s exoskeleton was featured on the popular Fox Broadcasting show Glee in 2010, when the character Artie Abrams, a teenager paralyzed following a car crash as a child, is gifted the device for Christmas.
In November, the manufacturer announced it would shutter two of its U.S. facilities, laying off 15 employees in a consolidation effort expected to save the company $3 million in operating expenses.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
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