In 2016, a New York man was in a motorcycle accident, and he injured his spinal cord as a result. Today, ReWalk Robotics (NASDAQ:RWLK) announced that this same man received a ReWalk Personal 6.0 exoskeleton. Of course, the news has benefited the recipient, but it has also had a positive impact on the RWLK stock.
At the time of writing, RWLK stock is up nearly 20%.
RWLK Stock Goes Flying
The man who has received the ReWalk Personal 6.0 exoskeleton (this is a customizable exoskeleton for home and in the community) has commenced his training and will be eligible to take the exoskeleton home once he has completed his ReWalk system. So it’s great news for him. But ReWalk Robotics is also benefitting.
Because the coverage is by Cigna, which a US-based health service company, ReWalk Robotics CEO Larry Jasinski believes Cigna’s involvement is the “latest example of progress in the acceptance of exoskeletons by the payor community.”
According to Seeking Alpha, while the payor community may be accepting exoskeletons, Jasinski and his team are also doing their part, continuing to “actively engage insurers regarding exoskeleton policy provision for eligible beneficiaries.” Regardless of who is doing what though, Jasinski says ReWalk is glad “to see recent progress with Cigna and other providers worldwide.”
Jasinski doesn’t seem to be the only one optimistic, too. The market did, after all, send RWLK stock into the double-digits following the news.
At the time of writing, RWLK stock is trading at $3.94, which puts it up 16.59%. Earlier in the trading day, according to Yahoo Finance, the stock was up around 18%.
For Those Who Don’t Know
For those who don’t know, ReWalk Robotics was founded in 2001, and it creates and manufactures robotic exoskeletons for those with lower limb disabilities. It does this because RWLK wants to improve and change the quality of life for those with these disabilities. The company has headquarters in the following countries: Israel, Germany, and the United States. The RWLK stock trades on the Nasdaq Exchange.
Featured image: DepositPhotos © abidal