Lifeward Ltd. (NASDAQ:LFWD) stock climbed 5.1% following the announcement of an expanded distribution partnership for its AlterG product lines across the United Arab Emirates and the Gulf Cooperation Council (GCC) region.
The medical technology firm extended its relationship with SportsMed Products Ltd., leveraging SportsMed’s Dubai-based subsidiary, SportsMed Performance Trading LLC, to cover these Middle Eastern markets. This expansion builds on SportsMed’s established role as the exclusive AlterG distributor in the United Kingdom and Republic of Ireland since 2015.
SportsMed has already set up a demonstration zone in Dubai, allowing prospective clients to experience Lifeward’s latest AlterG NEO+ system firsthand. Since the partnership’s inception, the UK-based distributor has sold over 300 AlterG devices and offers comprehensive training, servicing, and maintenance support to customers.
Mark Grant, Lifeward’s CEO, described the expansion as “a critical step in driving the success and global reach of the AlterG product lines.” The company, which specializes in medical technologies for individuals with physical limitations or disabilities, views this partnership as key to accelerating growth in the Middle East.
SportsMed’s deep expertise with AlterG dates back to 2010, when it was founded by former employees of AlterG.
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