ReWalk Robotics Ltd (RWLK)

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ReWalk Enters Contract with BKK Mobil Oil health insurance fund for the supply of ReWalk exoskeleton to eligible persons with spinal cord injury in Germany

https://finance.yahoo.com/news/rewalk-enters-contract-bkk-mobil-133000559.html

MARLBOROUGH, Mass. and BERLIN, March 2, 2021 /PRNewswire/ -- ReWalk Robotics, Ltd. (Nasdaq: RWLK) ("ReWalk" or the "Company"), a leading manufacturer of robotic medical devices for people with lower extremity disabilities, today announced it has entered into a contract with BKK Mobil Oil Insurance to provide ReWalk Personal Exoskeleton devices to its eligible beneficiaries with spinal cord injury.

The contractual arrangement is the first with a company health insurance fund and follows a series of agreements with several health insurance providers in Germany, which ReWalk has signed since the beginning 2020. With over one million beneficiaries, BKK Mobil Oil is one of the largest of a total of 72 corporate health insurance funds in Germany. Under the terms of this contract, eligible individuals can receive a ReWalk Personal 6.0 exoskeleton, which enables them to stand and walk in their homes and communities, after completing the training program.

"BKK Mobil Oil has taken the lead within corporate health insurers in Germany by entering into this contract," said ReWalk CEO Larry Jasinski. "We hope that more corporate health insurances will join this contract to ensure quality care with ReWalk exoskeletons for their insureds."

"In addition to the innovative exoskeleton aid, which gives new hope to many paralyzed people, we were particularly impressed by the well thought-out and detailed care concept of ReWalk Robotics GmbH. Everyone involved is aware of the current status of the supply at all times, and can plan the next treatment steps, so that our insured receive high-quality care and are efficiently guided through the procedure," says Tanja Euhus, Head of the Contracts Department at BKK Mobil Oil.

In 2018, the ReWalk 6.0 personal exoskeleton system was listed in the Medical Device Directory (MDD) of the Head Association of Statutory Health Insurances (SHI), which includes all approved devices for insurance procurement. That addition was a critical turning point, enabling any of Germany's 103 statutory health insurance companies to pursue standards of care for ReWalk. After being listed in the MDD directory, ReWalk began to enter into supply contracts with a number of German insurers.