{"id":83955,"date":"2014-09-22T05:09:16","date_gmt":"2014-09-22T02:09:16","guid":{"rendered":"https:\/\/www.technion.ac.il\/blog\/technion-alumnus-has-his-day-on-wall-street-as-rewalk-stock-soars\/"},"modified":"2014-09-22T05:09:16","modified_gmt":"2014-09-22T02:09:16","slug":"technion-alumnus-has-his-day-on-wall-street-as-rewalk-stock-soars","status":"publish","type":"post","link":"https:\/\/www.technion.ac.il\/en\/blog\/technion-alumnus-has-his-day-on-wall-street-as-rewalk-stock-soars\/","title":{"rendered":"Technion Alumnus has his day on Wall Street as ReWalk Stock Soars"},"content":{"rendered":"

(Sept. 17, 2014) A contingent of \u201cReWalkers\u201d led by Technion graduate Dr. Amit Goffer, stopped traffic in New York\u2019s Times Square today as photographers rushed to capture the jubilation surrounding the Initial Public Offering (IPO) of ReWalk Robotics Ltd.<\/a>,<\/span> the company that makes the ReWalk device. Invented by Dr. Goffer, the Founder and President of ReWalk Robotics, the ReWalk allows paraplegics to stand upright, walk and in some cases climb stairs.<\/strong><\/p>\n

\"ReWalk<\/a>
ReWalk rings the bell at the Nasdaq<\/figcaption><\/figure>\n

Listed on the NASDAQ exchange under the symbol RWLK, ReWalk Robotics (formerly Argo Medical Technologies) went public Friday, September 12, offering 3 million shares at a price of $12 per share. By the end of the first day of trading, shares soared \u2014 more than doubling in price to close at $26.50. The price has continued to rise. As of this morning, when ReWalk CEO Larry Jasinski had the honor of ringing the Opening Bell at the NASDAQ MarketSite in Times Square, ReWalk was anointed the best performing IPO of the year, having gained more than 230% since the offering.<\/p>\n

The IPO came just months after ReWalk, headquartered in Yokneam, Israel and Marlborough, MA., received U.S. Food and Drug Administration (FDA) approval in June 2014, making it the first and only motorized exoskeleton available for personal use in the U.S. Prior to receiving approval, ReWalk was available in Europe and Israel for personal use, but was limited in the U.S. for use in rehabilitation and veteran\u2019s clinics.<\/p>\n

\u201cEach time I meet with the \u201cReWalkers\u201d (those who use the device), the same thing happens. I get tears in my eyes,\u201d said Dr. Goffer, who is a quadriplegic and confined to a wheelchair. \u201cThe IPO is a great event. It\u2019s very exciting, but the acknowledgment I get from the people using the device, saying how it\u2019s changed their lives, being hugged by their families \u2026 makes me more than happy.\u201d<\/p>\n

Speaking outside of the exchange after the Bell Ringing ceremony, CEO Jasinski said that about one third of the core ReWalk employees are Technion graduates. When asked what they bring to the table, he motioned to the dozen ReWalkers milling about Times Square and said: \u201cnow they can walk.\u201d He also noted that all of ReWalk\u2019s R&D is based in Israel and the devices are fabricated in Israel as well.<\/p>\n

ReWalk captured global media attention in the spring of 2012 when it was used to participate in the London Marathon, and again the following year when it was used to participate in a portion of the Tel Aviv Marathon. The device earned a coveted spot on Time magazine\u2019s \u201cThe 25 Best Inventions of the Year\u201d for 2013.<\/p>\n

\"Amit<\/a>
Amit Goffer and the ReWalk team in NYC<\/figcaption><\/figure>\n

On the heels of ReWalk\u2019s tremendous success, Dr. Goffer and a fellow Technion alumnus Oren Tamari have recently launched start-up RehaMed Technologies to develop an innovative standing wheelchair called UPnRIDE.<\/p>\n

Resembling a Segway or electric scooter, UPnRIDE is unlike other standing wheelchairs in that it allows users full mobility in both sitting and standing positions, and on any outdoor urban surface. Proprietary know-how gives UPnRIDE stability due to automatic balance, and releases safety arms to prevent falls. Users will be able to move independently between standing and sitting positions without needing assistance to rearrange the body.<\/p>\n

Its Segway-like appearance is meant to remove the stigma often associated with being disabled. \u201cWhen you see a person in a wheelchair you notice immediately that he is disabled. With the UPnRIDE, you won\u2019t know if he is disabled or just enjoying a Segway-like ride,\u201d says Dr. Goffer, who was left a quadriplegic after a tractor accident in 1997. \u00a0While he is not able to use the ReWalk, he will be able to use UPnRIDE. \u00a0\u201cI can\u2019t wait to use it myself,\u201d says Dr. Goffer.<\/p>\n