MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel - ReWalk Robotics Ltd. (DBA Lifeward™) (NASDAQ: LFWD), a company known for its medical devices for physical rehabilitation, announced the appointment of Mike Swinford to its Board of Directors, effective April 18, 2024. Swinford, the CEO of Numotion, brings extensive experience in the healthcare industry, particularly in mobility and independence solutions.
Swinford's tenure at Numotion, which began in July 2014, saw the company grow to serve over 400,000 individuals annually across a spectrum of mobility-related disabilities. His leadership extended to expanding commercial coverage and spearheading initiatives for wheelchair technology and service regulations.
Before Numotion, Swinford had a notable 22-year career at GE Healthcare, including a role as President and CEO of GE Healthcare Services (NASDAQ:HCSG). His background features a variety of operational and commercial roles, from start-ups to turnarounds. Additionally, he serves on the boards of CareATC and Aspen Surgical, further emphasizing his broad expertise in the healthcare sector.
Jeff Dykan, Chairman of the Lifeward Board, praised Swinford's track record and commitment to improving access for people with disabilities, highlighting the alignment with Lifeward's commercialization goals and mission to innovate in the field of physical rehabilitation.
Lifeward, established in 2001, operates in the United States, Israel, and Germany, and its portfolio includes products like the ReWalk Exoskeleton and the AlterG Anti-Gravity systems.
The information is based on a press release statement from ReWalk Robotics Ltd. (DBA Lifeward).
InvestingPro Insights
As Lifeward (NASDAQ: LFWD) welcomes Mike Swinford to its Board of Directors, investors and stakeholders may be interested in recent financial metrics and market performance to better understand the company's current position. Lifeward, with a market capitalization of $42.32 million, has been making significant strides in the medical device industry.
One notable InvestingPro Tip for Lifeward is the company's proactive approach to capital management. Management has been aggressively buying back shares, a move that often signals confidence in the company's future prospects. Additionally, Lifeward maintains a strong liquidity position, holding more cash than debt on its balance sheet, which provides financial flexibility and a buffer against market uncertainties.
InvestingPro Data highlights impressive revenue growth, with a 151.39% increase in the last twelve months as of Q4 2023. This is further underscored by a quarterly revenue growth of 215.92% in Q4 2023. Despite these strong growth figures, it's important to note that the company is not currently profitable, with a negative price-to-earnings (P/E) ratio of -1.92 and an adjusted P/E ratio of -2.15 for the same period. Moreover, analysts anticipate sales growth in the current year, which could be a positive indicator for future performance.
For investors seeking a deeper dive into Lifeward's financials and strategic insights, InvestingPro offers additional tips and metrics. There are 10 more InvestingPro Tips available, providing a comprehensive analysis of the company's financial health and market potential. To access these insights, visit https://www.investing.com/pro/LFWD and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Overall, Lifeward's recent appointment and its financial data suggest a company that is investing in growth and leadership while navigating the challenges of profitability and market volatility. These insights could be crucial for investors making informed decisions about their interest in Lifeward.
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