Lifeward to close two U.S. facilities, reduce total headcount by over 35%

Lifeward (LFWD) announced plans to streamline its U.S. operations including the closing of two U.S. facilities to complete the integration that has followed the acquisition of AlterG in August 2023. The consolidation is expected to save the Company approximately $3M in operating expenses and improve gross margins by approximately two percentage points when the full impact is achieved. Following the consolidation, Lifeward will have reduced its total headcount by greater than 35% since the closing of the AlterG acquisition. Key functions located at the affected facilities will be integrated into the operations of the Marlborough, Massachusetts facility, and manufacturing of the AlterG Anti-Gravity Systems will be assumed by Cirtronics Corporation, a nationally recognized contract manufacturer specializing in the manufacture of precision medical devices and instrumentation.