The US Department of Veteran Affairs has just revised its national policy on exoskeleton medical device training and procurement for qualifying Veterans with spinal cord injuries (SCI). ReWalk Robotics Ltd. (NASDAQ:RWLK) announced the news today, and the company’s stock rose immediately following the announcement.
Policy Revamp
The policy was issued back in June of 2017 and was an update to the original standard operating policy (SOP) issued by the VA in December of 2015. With the new revision of the policy, all Veterans will flow through one of the 24 designated spinal cord injury VA centers (SCI/D).
Once the veteran has been deemed qualified by one of the 24 VA centers to receive his or her own exoskeleton system, they may begin receiving training and procurement in one of three ways: at a qualified private rehab center through the VA’s Veteran’s Choice Program, at a qualified VA Hospital, or at the applicable SCI/D hub center.
Larry Jasinski, ReWalk’s CEO, said in the official press release:
“This revised policy is a great step forward that will potentially help many paralyzed Veterans who simply seek to walk again. These significant SOP updates mean that numerous injured Veterans who have expressed an interest in obtaining a ReWalk, but have not been able to participate due to a lack of availability in their area, can now have access. We are pleased to see the VA build upon the SOP, taking into account the Department’s own extensive research and its ongoing national trial.”
RWLK Daily Stock Movement
According to Yahoo Finance, ReWalk Robotics Ltd. closed the market yesterday at $0.72 a share. The stock opened the day at $0.82 a share, and closed the market at $1.25 a share, up $0.530, or 73.64% today. ReWalk Robotics’ market cap closed the day at $43.292 million and had a day trading range of $0.78 – $1.35.
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