MARLBOROUGH, Mass., Aug. 02, 2021 (GLOBE NEWSWIRE) — ReWalk Robotics Ltd. (Nasdaq: RWLK), a manufacturer of robotic medical devices for individuals with lower limb disabilities, today announced Jeannine Lynch will join the Company on August 31, 2021, as Vice President of Strategy and Market Access. Ms. Lynch will focus on completing the building and implementation of ReWalk’s market access and reimbursement programs. Ms. Lynch will report to ReWalk CEO, Larry Jasinski. She will also be part of the management team responsible for overseeing planning and implementation of all company business strategy and policies.
“We have been the worldwide leader in building payment pathways and coverage for exoskeleton technologies and are further expanding that effort with the addition of Ms. Jeannine Lynch to implement our strategic efforts for market access, along with contracting public and private insurance,” said Larry Jasinski, ReWalk CEO. “We are thrilled to add the skills and experience of Ms. Lynch to help our customers and build our business. ReWalk’s meaningful success with expanding clinical data, establishing a new CMS code, contracting in Germany, and recent progress in advancing our coverage position has us well positioned to secure exoskeleton coverage payments for the many individuals with spinal cord injuries who wish to walk once again.”
Prior to ReWalk, Ms. Lynch served as Senior Director of Patient Access Services at BioMarin Pharmaceuticals. In addition to her work with BioMarin, Ms. Lynch has worked for industry leaders such as Genentech and Pfizer/Agouron. She has held leadership roles in commercial management, product launches and built customized patient services to address several different rare and ultrarare medical conditions.
“I’m excited to join ReWalk, a team dedicated to driving innovation for patients who are dealing with spinal cord injury, stroke and other neurodegenerative disorders,” said Jeannine Lynch, ReWalk’s incoming Vice President of Strategy and Market Access. “Healthcare innovation includes the product, services and having them accessible to appropriate patients. Coverage by private and public insurers is critical to increase level of care and I look forward to helping strengthen ReWalk’s capabilities in these important areas and elevate ReWalk over its competitors.”
Ms. Lynch is a graduate of the University of California Berkeley and holds a Master of Public Health from the University of Michigan. She sits on the Board of Directors for MVP, a non-profit organization to help young people of color prepare, perform, progress, and prosper in their education, leadership and early professional careers.
In conjunction with the appointment of Ms. Lynch, the Compensation Committee of the Board of Directors of ReWalk approved the grant of an aggregate of 125,000 Restricted Stock Units as an inducement material to Ms. Lynch’s entering into employment with ReWalk in accordance with Nasdaq Listing Rule 5635(c)(4), subject to the terms and conditions of the applicable award agreement covering such grant. The grant will be effective on the date she joins the Company.
The Restricted Stock Units will vest and become exercisable as to 25% of the underlying ordinary shares on August 31, 2022, and will vest and become exercisable as to the remaining 75% of the underlying ordinary shares in 3 equal annual installments on August 31, 2023, August 31, 2024 and August 31, 2025, subject to Ms. Lynch’s continued employment with ReWalk on such vesting dates.
About ReWalk Robotics Ltd.
ReWalk Robotics Ltd. develops, manufactures and markets wearable robotic exoskeletons for individuals with lower limb disabilities as a result of spinal cord injury or stroke. ReWalk’s mission is to fundamentally change the quality of life for individuals with lower limb disability through the creation and development of market leading robotic technologies. Founded in 2001, ReWalk has headquarters in the United States, Israel and Germany. For more information on the ReWalk systems, please visit rewalk.com.
