Lifeward’s ReWalk™ Personal Exoskeleton Now Covered by Aetna, Coverage Expands to Include Three of the Largest Medicare Advantage Insurers

Rhea-AI Summary

Lifeward (Nasdaq: LFWD) announced on Feb 17, 2026 that Aetna issued a prior authorization for a Medicare Advantage beneficiary to obtain the ReWalk Personal Exoskeleton, joining Humana and UnitedHealthcare.

Coverage now spans three major Medicare Advantage insurers, representing approximately 16 million beneficiaries, for qualified individuals meeting medical necessity criteria.

The ReWalk Personal Exoskeleton is FDA-approved; peer-reviewed studies cited benefits for ambulation, musculoskeletal health, and cardiopulmonary function.

Positive

• Coverage added by Aetna, joining Humana and UnitedHealthcare
• Expanded access across ~16 million Medicare Advantage beneficiaries
• Device is FDA-approved with peer-reviewed evidence of clinical benefits

Negative

• Access requires prior authorization and meeting medical necessity criteria
• Coverage is insurer-specific prior authorizations, not a guaranteed national policy

Key Figures

Medicare Advantage beneficiaries: approximately 16 million Major MA insurers: 3 insurers Nursing experience: 15 years +1 more

4 metrics

Medicare Advantage beneficiaries approximately 16 million Covered by Aetna, Humana, and UnitedHealthcare combined

Major MA insurers 3 insurers Aetna, Humana, UnitedHealthcare covering ReWalk Personal Exoskeleton

Nursing experience 15 years Experience of the nurse beneficiary quoted in the release

Injury year 2022 Year the quoted nurse sustained a thoracic spinal cord injury

Market Reality Check

Price: $0.5104 Vol: Volume 129,302 is below t...

low vol

$0.5104 Last Close

Volume Volume 129,302 is below the 20-day average of 245,604 (rel 0.53x). low

Technical Price 0.5104 is trading below the 200-day MA at 0.76 and near the 52-week low of 0.50.

Peers on Argus

Sector peers are mixed: RSLS up 29.8%, BMRA up 5.05%, PAVM up 1.46%, HSCS down 3...

1 Down

Sector peers are mixed: RSLS up 29.8%, BMRA up 5.05%, PAVM up 1.46%, HSCS down 3.23%, while scanner momentum flags SSKN down 6.96%. Moves do not show a clear sector-wide trend tied to this reimbursement news.

Historical Context

5 past events · Latest: Jan 13 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 13	Strategic partnership	Positive	+9.2%	Oramed partnership adding POD platform and up to $47M in funding access.
Jan 13	Transaction details	Positive	+9.2%	Binding agreements giving Oramed 49.9% stake and funding upcoming clinical work.
Dec 19	Board leadership change	Neutral	-4.4%	Appointment of Bob Marshall as Chairman and governance transition at year-end.
Dec 17	International expansion	Positive	+0.1%	Exclusive distribution deal with Verita Neuro across three new international markets.
Dec 03	Reimbursement expansion	Positive	+25.4%	Humana Medicare Advantage prior authorization following UnitedHealthcare approval.

Pattern Detected

LFWD has generally reacted positively to strategic partnerships and reimbursement expansion, with one divergence on a governance-focused announcement.

Recent Company History

Over the past several months, Lifeward has advanced both strategic and commercial initiatives. On Dec 3, 2025, a Humana Medicare Advantage prior authorization, following UnitedHealthcare, coincided with a 25.45% gain as reimbursement clarity improved. International distribution expanded into Mexico, Thailand, and the UAE on Dec 17, 2025. Governance shifted with a new Board chair effective Jan 1, 2026. On Jan 13, 2026, a transformative Oramed partnership brought up to $47 million in potential funding and biotech upside. Today’s Aetna coverage decision builds directly on this reimbursement and access trajectory.

Market Pulse Summary

This announcement expands Medicare Advantage access for the ReWalk Personal Exoskeleton to three maj...

Analysis

This announcement expands Medicare Advantage access for the ReWalk Personal Exoskeleton to three major insurers representing about 16 million beneficiaries, reinforcing the reimbursement gains seen with UnitedHealthcare and Humana in late 2025. It builds on a strategy focused on payer adoption and broader distribution. At the same time, investors should track how this growing coverage interacts with ongoing capital-structure changes, merger-related proposals, and Nasdaq bid-price compliance efforts as disclosed in recent filings.

Key Terms

medicare advantage, prior authorization, medical necessity, spinal cord injury, +3 more

7 terms

medicare advantage financial

"Aetna joins Humana and United Healthcare in providing Medicare Advantage coverage"

Medicare Advantage is a type of health insurance plan offered by private companies that covers services traditionally provided by government-run Medicare. Think of it as a bundled package that combines hospital, doctor, and other medical care into one plan, often with added benefits. For investors, it matters because the popularity and profitability of these plans can influence healthcare companies and the broader health insurance industry.

prior authorization financial

"Aetna has issued a prior authorization for a Medicare Advantage beneficiary"

Prior authorization is a process where a health insurance company requires approval before covering certain medical services or medications. It functions like a pre-approval step, ensuring that the treatment is necessary and appropriate before expenses are paid. For investors, understanding prior authorization is important because delays or denials can impact healthcare costs, provider operations, and the financial stability of related companies.

medical necessity medical

"beneficiaries who meet medical necessity criteria for the ReWalk Personal Exoskeleton"

Medical necessity is a clinical judgment that a particular test, treatment, or service is appropriate and needed for diagnosing or treating a patient’s condition, and is commonly required for insurance coverage and regulatory approval. For investors, it matters because payers’ and regulators’ determinations of medical necessity affect whether healthcare products and services get paid for, similar to how a building permit determines whether a construction project can proceed and be profitable.

spinal cord injury medical

"individual living with spinal cord injury"

Damage to the bundle of nerves that runs down the middle of the back and carries messages between the brain and the body; like a cut or crush to an electrical cable that disrupts signals to limbs and organs. It matters to investors because the severity and permanence of the damage drive demand for medical devices, drugs, rehabilitation services and long-term care, shaping the commercial size, regulatory hurdles and revenue timelines for companies developing treatments.

fda-approved regulatory

"The ReWalk Personal Exoskeleton System is an FDA-approved technology"

FDA-approved means a medical product, drug, device or treatment has passed the U.S. Food and Drug Administration’s review for safety and effectiveness for a specific use. Think of it like a formal safety and performance seal that allows the product to be marketed for that purpose in the U.S.; for investors, approval reduces regulatory uncertainty, enables sales and reimbursement pathways, and can materially affect a company’s revenue prospects and valuation.

peer-reviewed medical

"Multiple peer-reviewed studies have demonstrated the system's benefits"

Peer-reviewed means a study, report or paper has been examined and approved by independent experts in the same field before publication, like having multiple qualified inspectors check a building plan. For investors, peer review signals that methods and conclusions have passed scrutiny beyond the author’s claims, making scientific, clinical or technical findings more reliable and reducing the chance that decisions or valuation are based on unchecked or flawed evidence.

cardiopulmonary medical

"benefits related to ambulation, musculoskeletal health, and cardiopulmonary function"

Relating to the combined function of the heart and lungs—how the heart pumps blood and the lungs oxygenate that blood and remove waste gases. Investors watch cardiopulmonary issues because treatments, devices, or clinical results in this area can affect demand, regulatory reviews, hospital spending and patient outcomes; think of the heart and lungs as a vehicle’s engine and fuel system—if either falters, the market for repairs and improvements can change quickly.

AI-generated analysis. Not financial advice.

Aetna joins Humana and United Healthcare in providing Medicare Advantage coverage for beneficiaries who meet medical necessity criteria for the ReWalk Personal Exoskeleton

Together, these three national Medicare Advantage insurers represent approximately 16 million beneficiaries across the United States

HUDSON, Mass. and YOKNEAM ILLIT, Israel, Feb. 17, 2026 (GLOBE NEWSWIRE) -- Lifeward Ltd. (Nasdaq: LFWD) (“Lifeward” or the “Company”), a global leader in innovative medical technology designed to transform the lives of people with physical limitations or disabilities, today announced that Aetna has issued a prior authorization for a Medicare Advantage beneficiary to obtain the ReWalk Personal Exoskeleton, recognizing the device as medically necessary for a qualifying individual living with spinal cord injury. With Aetna's decision, coverage for the ReWalk Personal Exoskeleton now spans three of the largest Medicare Advantage insurers, as UnitedHealthcare and Humana have also issued prior authorizations for qualified beneficiaries.

"Aetna's decision represents meaningful progress in expanding access to evidence-based advanced rehabilitation technology," said Mark Grant, CEO of Lifeward. "As leading Medicare Advantage insurers independently review the clinical evidence and reach consistent medical necessity determinations, it reinforces that exoskeleton-assisted walking serves as an appropriate therapeutic intervention for qualified individuals living with spinal cord injury."

The ReWalk Personal Exoskeleton System is an FDA-approved technology designed to enable individuals with spinal cord injury to achieve functional ambulation. Multiple peer-reviewed studies have demonstrated the system's benefits related to ambulation, musculoskeletal health, and cardiopulmonary function.

These recent prior authorization approvals carry significant meaning for patients and providers who have long advocated for broader access to exoskeletal rehabilitation technology. Among those benefiting from the expanded coverage landscape is a nurse living with thoracic spinal cord injury whose Medicare Advantage plan authorized a ReWalk Personal Exoskeleton.

"As a nurse for 15 years and someone who sustained a spinal cord injury in 2022, I understand both professionally and personally how life-changing this kind of technology can and will be for so many," the beneficiary said. "I've cared for patients navigating spinal cord injuries, and I live that reality every single day. Access to innovative mobility devices means more than movement; it means dignity, healing, and a renewed sense of independence. Having a favorable decision for my Aetna Advantage plan for this device is groundbreaking; it opens the door for others in our community to experience that same opportunity for progress and possibility."

With prior authorizations from three of the largest Medicare Advantage insurers, beneficiaries who qualify may now pursue access to the ReWalk Personal Exoskeleton. Lifeward continues to collaborate closely with insurers, clinicians, and rehabilitation professionals to integrate advanced rehabilitation technology as a critical element of spinal cord injury management.

To learn more about the Lifeward mission and product portfolio, please visit GoLifeward.com.

About Lifeward
Lifeward designs, develops, and commercializes life-changing solutions that span the continuum of care in physical rehabilitation and recovery, delivering proven functional and health benefits in clinical settings as well as in the home and community. Our mission at Lifeward is to relentlessly drive innovation to change the lives of individuals with physical limitations or disabilities. We are committed to delivering groundbreaking solutions that empower individuals to do what they love. The Lifeward portfolio features innovative products including the ReWalk Exoskeleton, the AlterG Anti-Gravity systems, the ReStore Exo-Suit, and the MyoCycle FES Systems.

Founded in 2001, Lifeward has operations in the United States, Israel, and Germany. For more information on the Lifeward product portfolio, please visit GoLifeward.com.

ReWalk^®, ReStore^® and Alter G^® are registered trademarks of ReWalk Robotics Ltd. (DBA Lifeward) and/or its affiliates.    

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, and Section 21E of the U.S. Securities Exchange Act of 1934 concerning Lifeward, Oramed, the strategic investment and partnership agreement with Oramed (collectively, the “Proposed Transactions”) and other matters. Such forward looking statements may include projections regarding the Company's future performance and other statements that are not statements of historical fact and, in some cases, may be identified by words like "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future," "will," "should," "would," "seek" and similar terms or phrases. The forward-looking statements contained in this press release are based on management's current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. Important factors that could cause the Company’s actual results to differ materially from those indicated in the forward looking statements include, among others: Lifeward’s and Oramed’s management teams’ expectations, hopes, beliefs, intentions or strategies regarding the future including, without limitation, statements regarding: the reverse share split allowing us to regain compliance with Nasdaq’s minimum bid price requirement, the structure, timing and completion of the Proposed Transactions; perceived benefits or opportunities of the Proposed Transactions; timing of closing of the Proposed Transactions, expected proceeds, expectations regarding the use of proceeds, and impact on ownership structure; the anticipated timing of the closing; the future operations of Lifeward, including research and development activities; the nature, strategy and focus of Lifeward; anticipated clinical drug development activities and related timelines, including the initiation of the planned clinical trial and other clinical results; the sufficiency of post-transaction resources to support the advancement of Lifeward’s pipeline through certain milestones and the time period over which Lifeward’s post-transaction capital resources will be sufficient to fund its anticipated operations; unexpected costs, charges or expenses resulting from the Proposed Transactions; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Proposed Transactions; and legislative, regulatory, political and economic developments; the acceptance of the ReWalk 7 Personal Exoskeleton by healthcare professionals and patients; uncertainties associated with future clinical trials and the clinical development process, the product development process and FDA regulatory submission review and approval process; the Company's ability to have sufficient funds to meet certain future capital requirements, which could impair the Company's efforts to develop and commercialize existing and new products; the Company's ability to maintain and grow its reputation and the market acceptance of its products; the Company's ability to achieve reimbursement from third-party payors, including CMS, for its products; the Company's limited operating history and its ability to leverage its sales, marketing and training infrastructure; the Company's expectations as to its clinical research program and clinical results; the Company's expectations regarding future growth, including its ability to increase sales in its existing geographic markets and expand to new markets; the Company's ability to obtain certain components of its products from third-party suppliers and its continued access to its product manufacturers; the Company’s ability to navigate any difficulties associated with moving production of its AlterG Anti-Gravity Systems to a contract manufacturer and transitioning the manufacturing of its ReWalk products to its in-house manufacturer; the Company's ability to improve its products and develop new products; the Company's compliance with medical device reporting regulations to report adverse events involving the Company's products, which could result in voluntary corrective actions or enforcement actions such as mandatory recalls, and the potential impact of such adverse events on the Company's ability to market and sell its products; the Company's ability to gain and maintain regulatory approvals; the Company's ability to maintain adequate protection of its intellectual property and to avoid violation of the intellectual property rights of others; the risk of a cybersecurity attack or breach of the Company's IT systems significantly disrupting its business operations; the Company's ability to use effectively the proceeds of its offerings of securities; and other factors discussed under the heading "Risk Factors" in the Company’s annual report on Form 10-K, as amended, for the year ended December 31, 2024 filed with the SEC and other documents subsequently filed with or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. Factors or events that could cause the Company’s actual results to differ from the statements contained herein may emerge from time to time, and it is not possible for the Company to predict all of them. Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

Contact:

Almog Adar
Chief Financial Officer
Lifeward

E: media@golifeward.com
E: ir@golifeward.com

FAQ

What did Lifeward (LFWD) announce on Feb 17, 2026 about ReWalk coverage?

Lifeward announced that Aetna approved a prior authorization for a Medicare Advantage beneficiary to receive ReWalk. According to Lifeward, this joins prior authorizations from Humana and UnitedHealthcare, expanding coverage across three major Medicare Advantage insurers representing about 16 million beneficiaries.

Does Aetna now cover the ReWalk Personal Exoskeleton for Medicare Advantage members (LFWD)?

Aetna issued a prior authorization recognizing ReWalk as medically necessary for a qualifying beneficiary. According to Lifeward, Aetna's decision complements approvals from Humana and UnitedHealthcare but coverage requires meeting insurer medical necessity criteria and prior authorization.

How many Medicare Advantage beneficiaries are potentially affected by LFWD's coverage expansion?

The combined coverage by the three insurers covers approximately 16 million Medicare Advantage beneficiaries. According to Lifeward, that figure represents the population served by Aetna, Humana, and UnitedHealthcare where qualified beneficiaries may seek access to ReWalk via prior authorization.

Is the ReWalk Personal Exoskeleton FDA-approved and clinically supported (LFWD)?

Yes — the ReWalk Personal Exoskeleton is FDA-approved and supported by peer-reviewed studies showing ambulation and health benefits. According to Lifeward, multiple studies demonstrate improvements in ambulation, musculoskeletal health, and cardiopulmonary function for spinal cord injury patients.

What does the Aetna prior authorization mean for individuals with spinal cord injury seeking ReWalk (LFWD)?

It means a qualifying Medicare Advantage beneficiary can obtain ReWalk after insurer review and authorization. According to Lifeward, the decision signals insurer recognition of medical necessity but individual access still depends on meeting specific clinical criteria and approval processes.