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Lifeward Ltd. (Nasdaq:LFWD), a leading innovator in rehabilitation and recovery solutions, has announced an exciting expansion of its product offerings in Germany. Effective immediately, Lifeward will begin selling the AlterG family of products through its established German sales organization. This announcement was made at the REHACARE 2024 conference in Düsseldorf, where attendees had the opportunity to experience live demonstrations of the new AlterG NEO and make purchases on-site.
The addition of AlterG products enhances Lifeward's existing portfolio, which already includes the ReWalk Personal Exoskeleton. This strategic move is expected to yield several financial advantages for the company, particularly through a more concentrated sales effort and improved profit margins. By utilizing its existing sales and support infrastructure in Germany, Lifeward anticipates minimal incremental investment while significantly increasing its revenue potential.
Larry Jasinski, Chief Executive Officer of Lifeward, expressed enthusiasm about the company's new direction. “We believe that there is significant potential to expand penetration of the German market through a more aggressive selling and marketing approach,” he stated. Jasinski emphasized that leveraging Lifeward’s direct sales organization will allow the company to better meet market demands while operating more efficiently and profitably.
The REHACARE 2024 conference serves as an ideal platform for Lifeward to showcase its commitment to innovation in rehabilitation technologies. The conference, renowned for attracting healthcare professionals and industry leaders, offers a unique opportunity for Lifeward to engage with potential customers and partners. By showcasing the AlterG NEO, the company is positioning itself to capture attention and drive sales in the competitive rehabilitation market.
Charles Remsberg, Lifeward's Chief Sales Officer, echoed Jasinski's optimism regarding the company's prospects in Germany. He noted that the team is well-prepared to leverage existing relationships with customers to promote the AlterG brand effectively. “With the experience we gained earlier this year in the U.S., we are confident that we have the team and plan in place to maximize our efficiencies and dedicate our attention to growing the ReWalk and AlterG markets in Germany,” Remsberg remarked.
The AlterG products, known for their cutting-edge technology and rehabilitation capabilities, are designed to help individuals with physical limitations regain mobility and pursue their passions. This aligns with Lifeward's mission to transform lives through innovative solutions. By expanding its reach in Germany, Lifeward aims to not only enhance its product offerings but also to make a meaningful impact on the lives of those in need of rehabilitation support.
With the launch of AlterG products in Germany, Lifeward is setting the stage for a new phase of growth. The company is optimistic that this strategic initiative will accelerate its path to profitability both in Germany and on a global scale. As Lifeward continues to innovate and expand its market presence, stakeholders will be closely watching its performance in this key European market.
