ReWalk Robotics To Acquire AlterG; Acquisition Builds Commercial Scale And Accelerates Path To Profitability; ReWalk Will Pay A Cash Purchase Price Of ~$19M
Portfolio Pulse from Happy Mohamed
ReWalk Robotics Ltd. (NASDAQ:RWLK) has announced a definitive agreement to acquire AlterG, Inc., a provider of Anti-Gravity systems for use in physical and neurological rehabilitation. The acquisition, costing approximately $19 million, is expected to expand ReWalk's customer-facing capabilities and advance future growth opportunities. AlterG generated revenue of $20 million in fiscal year 2022 with positive operating profit. The transaction is expected to close on August 11, 2023.
August 08, 2023 | 9:47 pm
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ReWalk Robotics' acquisition of AlterG is expected to expand its product portfolio and customer base, potentially leading to increased revenue and growth.
The acquisition of AlterG, a company with a positive operating profit and $20 million revenue in 2022, is likely to strengthen ReWalk's financial position and accelerate its path to profitability. This could positively impact ReWalk's stock in the short term.
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