ReWalk Robotics, Maker of FDA Approved Exoskeleton, Prepares for $50 Million IPO

By: | September 8th, 2014

ReWalk

Israeli company ReWalk Robotics, which recently received approval from the FDA for its exoskeleton that enables paraplegics to walk, has announced its plan for a $50 IPO, with 3.4 million shares at a price range of $14 to $16.

The company has sold 81 ReWalk systems as of the beginning of August since becoming FDA approved in June.

ReWalk had revenue of $950,000 for the six months ended June 30, 2014, and booked $2 million in sales for the 12 months ended June 30, 2014.

The company has no plans of slowing down citing manufacturing relocation as a major contributor to lowering cost per unit.

Not bad for a company found merely 13 years ago, in 2001.

Technology, engineering, and design enthusiast.

Google+ 

More articles from Industry Tap...

Tell Us What You Think

Loading Facebook Comments ...

Leave a Reply

Your email address will not be published. Required fields are marked *