Sam Brusco, Associate Editor08.09.23
ReWalk Robotics, a company that provides technologies to enable mobility and wellness in rehabilitation and daily life for those with neurological conditions, began a $19 million acquisition deal for AlterG, a provider of “Anti-Gravity” treadmill systems for physical and neurological rehabilitation.
AlterG’s patented, NASA-derived Differential Air Pressure tech is the basis of its Anti-Gravity treadmill systems. The company's technology reduces the effects of gravity and allows patients to move in new ways with finely calibrated report and reduced pain, according to the company. The systems are found in over 4,000 facilities globally and have helped millions of patient achieve improved mobility.
“This transaction is truly transformative for ReWalk and is a milestone in our long-term strategy for growth from both our existing portfolio of products and from synergistic acquisitions,” Larry Jasinski, CEO of ReWalk told the press. “We believe this transaction will leverage our combined market presence from both businesses and, by creating sales and support efficiencies across all product lines, accelerate our path to profitability. Through this transaction, we believe we will create a formidable commercial infrastructure to support multiple additional products across the continuum of care from the clinic to the home.”
“AlterG and ReWalk share a common vision of combining synergistic industry-leading products into a world-class portfolio which leverages our collective strengths,” added Charles Remsberg, CEO of AlterG. “This transaction instantly creates the scale to fund next-generation enhancements to our existing products and to pursue other innovative and commercial rehabilitation technologies that further strengthen our relationships with our customers as a key resource for innovative solutions in neurological and physical rehabilitation.”
Following the transaction, Remsberg will join ReWalk’s executive team at as chief sales officer. ReWalk will pay about $19 million cash for Alter-G at the deal’s close, which the company expects to happen on August 11. Further cash earnouts may be paid upon a percentage of AlterG’s year-over-year future revenue growth over the next two years.
Alter G accrued $20 million of revenue if its fiscal year 2022, with a positive operating profit.
AlterG’s patented, NASA-derived Differential Air Pressure tech is the basis of its Anti-Gravity treadmill systems. The company's technology reduces the effects of gravity and allows patients to move in new ways with finely calibrated report and reduced pain, according to the company. The systems are found in over 4,000 facilities globally and have helped millions of patient achieve improved mobility.
“This transaction is truly transformative for ReWalk and is a milestone in our long-term strategy for growth from both our existing portfolio of products and from synergistic acquisitions,” Larry Jasinski, CEO of ReWalk told the press. “We believe this transaction will leverage our combined market presence from both businesses and, by creating sales and support efficiencies across all product lines, accelerate our path to profitability. Through this transaction, we believe we will create a formidable commercial infrastructure to support multiple additional products across the continuum of care from the clinic to the home.”
“AlterG and ReWalk share a common vision of combining synergistic industry-leading products into a world-class portfolio which leverages our collective strengths,” added Charles Remsberg, CEO of AlterG. “This transaction instantly creates the scale to fund next-generation enhancements to our existing products and to pursue other innovative and commercial rehabilitation technologies that further strengthen our relationships with our customers as a key resource for innovative solutions in neurological and physical rehabilitation.”
Following the transaction, Remsberg will join ReWalk’s executive team at as chief sales officer. ReWalk will pay about $19 million cash for Alter-G at the deal’s close, which the company expects to happen on August 11. Further cash earnouts may be paid upon a percentage of AlterG’s year-over-year future revenue growth over the next two years.
Alter G accrued $20 million of revenue if its fiscal year 2022, with a positive operating profit.