US/World News

Israeli co. that helps the paralyzed walk to go public

(JNS.org) ReWalk Robotics, the Israeli company that developed an exoskeleton system enabling paralyzed people to walk again, has announced that it is going public with the hope of making its system more widely available. The company announced that it will go public on New York’s NASDAQ stock exchange and hopes to raise $50 million by offering 3.4 million shares in a price range of $14-$16. The initial public offering (IPO) is set to take place in the second week of September under the symbol RWLK. The announcement follows last month’s Food and Drug Administration (FDA) approval of ReWalk’s exoskeleton system. The system was developed by Dr. Amit Goffer, who became a quadriplegic after an accident in 1997, and allows paralyzed people to independently walk on their own by using computers and motion sensors built into the robotic frame.

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