The deal includes a purchase price of approximately $19 million at closing. ReWalk expects to close the deal on Aug. 11, with closing contingent upon the satisfaction of customary closing conditions. Additional cash earnouts may be paid based upon a percentage of AlterG’s future revenue growth in the next two.
ReWalk aims to strengthen its long-term financial position and path to profitability through this deal. In fiscal 2022, AlterG generated $20 million in revenue and recorded a positive operating profit.
“This transaction is truly transformative for ReWalk and is a milestone in our long-term strategy for growth from both our existing portfolio of products and from synergistic acquisitions,” said Larry Jasin…