Reimbursement of the device marks a key milestone in the Company's relationship with major U.S. private insurers.
ReWalk Robotics, Ltd. (Nasdaq: RWLK) ("ReWalk" or the "Company"), announced today that the first Cigna Corporation (Cigna) insurance beneficiary has received a ReWalk Personal 6.0 exoskeleton for use at home and in his community.
The beneficiary is a New York man who sustained a spinal cord injury in a motorcycle accident in 2016. After learning about ReWalk's technology and going through the proper examinations, he became eligible to receive a ReWalk Personal 6.0 exoskeleton. He has started training in his ReWalk system and when finished he will be able to take it home and utilize the device in his daily life. The Company has several other Cigna cases in the pipeline that are currently being processed.
"This coverage by Cigna, a leading global health service company in the United States, is the latest example of progress in the acceptance of exoskeletons by the payor community," said ReWalk CEO Larry Jasinski. "We continue to actively engage insurers regarding exoskeleton policy provision for eligible beneficiaries and are pleased to see recent progress with Cigna and other providers worldwide. The expansion of peer-reviewed publications on the benefits of exoskeleton use has led to meaningful discussions and advancements, which we believe will continue to expand across the industry."
In February of this year, Cigna revised its policy regarding coverage of exoskeleton medical devices for persons with spinal cord injury. Cigna, which previously had a non-coverage policy, will now review submissions from beneficiaries on a case-by-case basis to consider providing coverage based on medical criteria. This policy revision is the first of its kind by a major U.S. private insurer, joining the U.S. Department of Veterans Affairs, which in December 2015 issued a national policy for the evaluation, training and procurement of ReWalk Personal exoskeletons for all qualifying Veterans across the United States.
"Since our inception, we have delivered more than 500 exoskeleton systems, the majority of which are used by individuals at home, though many more are awaiting coverage of their own devices. As payors evaluate the benefits of exoskeleton technology we are confident more will follow Cigna's lead and make this life changing technology available to its members," Jasinski added.
About ReWalk Robotics, Ltd.
ReWalk Robotics, Ltd. develops, manufactures and markets wearable robotic exoskeletons for individuals with lower limb disabilities as a result of spinal cord injury or stroke. The Company's mission is to fundamentally change the quality of life for individuals with lower limb disability through the creation and development of market leading robotic technologies. Founded in 2001, ReWalk has headquarters in the United States, Israel and Germany. For more information on the ReWalk systems, please visit www.rewalk.com.