Release Details

Major investment by YASKAWA kicks off next phase of global expansion for the ReWalk™ exoskeleton

September 25, 2013 – ARGO Medical Technologies has partnered with innovative robotics experts YASKAWA Electric Corporation as it continues the global expansion of its ReWalk exoskeleton device which enables individuals with lower limb disabilities such as paraplegia to walk. YASKAWA has made a significant investment into the ReWalk exoskeleton technology and will also serve as the exclusive distributor for the ReWalk in Japan, China, Singapore, Taiwan, Thailand, and Korea.

“This strategic partnership will bring significant value through the synergy of YASKAWA’s technology in the general field of robotics combined with our expertise in the human factors and treatment of spinal cord injuries,” said ARGO CEO Larry Jasinski. “We look forward to this mutually beneficial partnership as we enter a new phase of development and growth.”

This recent investment by YASKAWA is the largest single investment as ARGO closes its most recent round of fundraising which marks its largest to date. The new funding and partnership with YASKAWA will help advance the ReWalk infrastructure and technology for users and support company growth with the expansion of research and development and enhanced design to streamline manufacturing.

“I am proud to be part of such a transformative company and watch it evolve from the vision of Dr. Amit Goffer who was inspired to develop the ReWalk based on his own personal story, to what is now a global exoskeleton leader,” said ARGO Chairman and SCP Vitalife Managing Partner Jeff Dykan. “We are excited about this strategic partnership with YASKAWA as Argo continues to expand its global commercialization capabilities and bring the ReWalk to many more potential users around the world.”

“Robotics has the potential to change the world of healthcare and rehabilitation, and ARGO’s knowhow in the field will allow us to contribute to quality of life improvements of people around the world,” said YASKAWA CEO Junji Tsuda. “We are looking forward to developing and expanding this strategic partnership in the years to come as we strive to achieve the goals we set for ourselves in our Vision 2015.”

ARGO currently offers two ReWalk models – the ReWalk Personal, currently available in Europe and Israel and pending FDA review in the US; and the ReWalk Rehabilitation which is now available in Europe, Israel and the United States. Both models are designed to provide a customized user experience with on-board computers and motion sensors that restore self-initiated walking without needing tethers or switches to begin movement.

About ARGO Medical Technologies
ARGO Medical Technologies develops, manufactures and markets walk restoration devices for people with lower limb disabilities. The company’s ReWalk™ exoskeleton allows an ambulation and rehabilitation alternative to wheelchair users, enabling people with lower limb disabilities, such as paraplegia, to stand and walk independently. ARGO is led by a team of experts in the fields of rehabilitation devices, control and computer sciences with decades of combined experience in R&D, engineering, manufacturing and global commercialization of advanced medical equipment. The company is assisted by renowned international experts in the fields of medicine, biomedical engineering, robotics and marketing. Founded in 2001 in Israel, ARGO is today an international company with headquarters in the US, Germany and Israel. For more information, please visit http://www.rewalk.com.

About YASKAWA Electric Corporation
YASKAWA is a world-leading manufacturer of industrial robots, servo and inverter drives. Ever since its incorporation in 1915, the company’s philosophy has been to contribute to the progress and wellbeing of society by developing, manufacturing and marketing products of the highest quality. These core values, along with its strong investment focus on research and development has made YASKAWA the global market leader it is today. In its “Vision 2015” YASKAWA has set goals to create a market for robots that work closer and co-exist with humans in the “Robotics Human Assist” business domain, develop solutions for renewable energies in the “Environmental & Energy” business domain, while constantly expanding its global scope of operations in its core “Mechatronics Solution” business domain. For more information, please visit http://www.yaskawa.co.jp/en/.

ARGO Media Contacts:
US/UK: Kristen Cullen
T.: +1 617 391 9622, kcullen@rasky.com
EU: Mela Ikanovic
T.: +49(0)30 2589 5080, mela.ikanovic@rewalk.com