ReWalk Robotics to go public

The company behind a revolutionary $69,500 exoskeleton that lets paralyzed patients walk again is planning to go public.

ReWalk Robotics, based in Israel and Marlboro, disclosed plans to raise 
$57.5 million through an initial public offering.

The company develops and sells a robotic exoskeleton that has allowed paralyzed patients, including vets, to walk thanks to an onboard computer and motion sensors. In ReWalk's regulatory filing, the company said its future could depend on being able to successfully go public.

"Without additional capital, from this offering or otherwise, we may run out of cash in the second half of 2014," the filing said. The company also said in the filing it is unclear how the exoskeletons will be viewed by insurance companies.

Still, the market for the exoskeletons is relatively untested. In June, ReWalk was given FDA approval to sell its systems directly to patients to use in their homes, but has not started selling them yet. The exoskeletons are currently used in rehabilitation hospitals.

So far this year, IPOs from medical device companies have not fared well, a trend experts blame
partly on a slow response by insurance companies.

"The recent results for medical device IPOs has been poor, perhaps related to the uncertainty of medical reimbursements," said Kathleen Smith of IPO investment firm Renaissance Capital.

"However, if ReWalk is seen as a unique robotics company, there may be more interest by IPO investors. "

A spokeswoman for ReWalk declined to comment, citing the SEC-mandated quiet period.

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Hybrid Lexus pairs quality, mpg

Can the discerning car buyer demand high quality and high returns on fuel cost? Yes, they can, and the 2014 Lexus 450h delivers both.

The luxury hybrid class has suddenly filled up with many competitive machines, including such fine examples as the Tesla, Cadillac ELR, Infiniti Q 50 Hybrid and three BMW offerings. How do you pick? Even though it's priced at a premium, I'd start with the GS 450h because through and through, no matter what kind of power plant it carries, the Lexus opulence is what one has come to expect from the Japanese maker.

Of course, you could spend thousands less and get the Camry Hybrid but the hallmark of any Lexus, and the reason you buy it, is the luxurious fit and finish
 of the automobile. Just look through the window and you'll see the handsome bamboo wood trim and leather-wrapped steering wheel. Pop open the door and slide into the firm, comfortable perforated heated and cooled leather seats, feel the cabin silence with the thud of the door and take in the ele­gance afforded you.

The luxury refinements continue with an upgraded package that adorns the car with a moonroof, 19-inch alloy wheels, heated steering wheel, LED headlights and a 12.3-inch high-resolution display and navigation. A powerful sound system makes rides a pleasure and the infotainment center responds to either voice commands or by using the mouselike selector. One drawback, and I've encountered this in other models, is the cellphone audio quality is rather poor for a $70,252 car. One other disappointment: Because the battery is mounted behind the rear seats, the trunk cargo area suffers and there's no option to fold the rear seats.

The large LCD displays light up with the Lexus logo on start, and once you slide the car into gear the solid ride and easy proportions of the 450h make maneuvering the four-door, five-passenger sedan easy. Front and back radar and cameras help get you in and out of tight spots and double as safety features when in cruise mode. All the controls are in the right spots, easily accessed and intuitive.

This is a wonderful car to drive and the Lexus Hybrid Drive is a 338 hp 3.5 liter V-6/electric motor combination mated to a electronically controlled variable transmission that makes the car a quiet, smooth cat that glides through the streets but has plenty of pop when you need it. The 450h CVT is configured to perform like the eight-speed tranny that earlier models featured.

Twist the Drive Mode Selector to the newly added­ Sport and the car's gearing and suspension adjust to give you more powerful acceleration and steering command. Paddle shifters complete the sporty mode, if you desire, as does the red hue of the dash lights. The rear wheel drive auto­mobile delivers 29 miles per gallon in the city and 34 mpg on the highway. Run this in pure ECO mode and you can squeeze a couple of extra mpg but the performance suffers.

I like the car's subtle lines and toned-down hourglass front grille assembly. The upgraded package features adaptive LED headlamps.

Based at a MSRP of $59,600, our test car had a number of goodies added in addition to the $5255 luxury package. Blind spot monitoring, heads-up display, one-touch power trunk and parking assist add another $2500 to the price; various processing fees land you at our final price.

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New group helps artists brush up biz skills

A new hub for artists trying to mix their creativity with business savvy is holding its annual Marketplace tomorrow in Somerville.

Jessica Burko, a mixed-media artist, photographer and founder and director of Boston Handmade, is holding the event from 11 a.m. to 4 p.m. tomorrow in Union Square.

"Our group exists to support creative entrepreneurs in their microbusinesses," said Burko, 40, of Roslindale. "When you go to art school, you don't necessarily get any business training. So our group is all about filling that gap."

Boston Handmade also offers workshops on topics such as how to use social media to market your business.

"I really wanted to meet a group of fellow artists and crafts people like that to bounce ideas off of," said Dana Garczewski, an illustrator whose studio, The Patterned Peacock, is in Watertown.

Garczewski, 36, sees events like the Boston Handmade Marketplace as a chance to show people the value of buying goods handmade locally.

"It's an opportunity to get to know the artists in your own backyard," she said, "and experience art and crafts in a very hands-on way."

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E-coupon app ringing it up

For mobile commerce to be successful, consumers — not the merchants — have to be the driving force, and one of the few companies that has figured that out is our own Waltham-based e-Coupons service SavingStar, which is announcing a huge expansion on Monday.

Rather than trying to get consumers to forgo their credit cards or lure them with "game theory," as Square and LevelUp have done, SavingStar is doing something simpler — and maybe even nobler: They've spent the past three years trying to modernize the ol' grocery store coupon.

Launched in 2011, the digital grocery savings service began helping shoppers earn cash back on purchase at stores such as Stop & Shop, Hannaford, Shaw's, CVS, Wegmans, Roche Bros., and Price Chopper. The soon-to-be-announced expansion adds partnerships with Wal-Mart, Target, Kmart, Walgreens, Family Dollar and Dollar General.

Spun from Newton-based marketing corporation 
Upromise, SavingStar is a mobile app for Android and iOS that organizes and provides coupons from leading manufacturers — essentially the digital equivalent of the supermarket circular.

But it's more valuable to merchants than paper coupons because it encourages consumers to use their customer loyalty cards at checkout. And that gives the merchants better data about consumption.

As for consumers, they don't see the discount at the register, but in the form of rewards that accumulate as cash, transferable to Paypal, Amazon gift cards or a bank account.

It's brilliant, really. Nothing generates loyalty like checking your bank statement and seeing that a company has actually deposited money rather than withdrawn it.

In addition to the merchant partner expansion, SavingStar is also adding a new feature, allowing consumers to earn discounts just by taking a picture of their receipt.

SavingStar, which claims 
five million users, has raised 
$27.4 million in venture capital since its founding, including a $9.1 million fourth round last year, according to CrunchBase.

SavingStar is consumer-driven, and I wouldn't be surprised if a company like Amazon scoops them up soon.

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Traditional exterior hides modern home

This stylish new townhouse is one of six similar available units that's bringing a contemporary look to a traditional but highly desirable Somerville neighborhood between Davis and Teele squares.

Each unit at 39-43 Elmwood St. has four levels of living space and features a private outdoor deck carved into its roof. The exteriors of the two buildings are Hardieplank clapboard with white trim with gables as a nod to the existing neighborhood. But the interiors are completely contemporary.

The units feature high-tech components such as iBot smart-home technology, Nest learning thermostats, Sonos music systems and Kohler digital shower valves. Units also come with induction cooktops, Navien tankless water heaters and high-efficiency gas heating and central air-conditioning systems.

In the staged model unit, you enter via a small front porch into a 15-foot high foyer and step up into an open, recessed-lit living/dining area with 13-foot ceilings, oak-stained floors and lots of tall windows with transoms above. In one corner sits a horizontal gas fireplace with a metallic porcelain finished surround. And overhead is built-in surround sound with a Sonos music system that can be operated through a smartphone or iPad.

It's a half flight up to a high-end kitchen, which features custom maple cabinetry including a recipe desk. There are white quartz countertops with glass mosaic backsplash and a quartz island/breakfast bar with contemporary pendant light­ing. High-end Energy­Star appliances include a Sub Zero refrigerator, a Bosch dishwasher and wall ovens and a Bosch electric induction cooktop. Off the kitchen is a half-bath.

The second floor features two bedrooms, two full bathrooms and a closet with a washer/dryer hookup. The oak-floored master bedroom has a walk-in closet with built-in wardrobe system. The en-suite porcelain-tiled bathroom has a walk-in shower with a stylish rolling glass door and a Kohler DTV digital shower valve.

The second bedroom is a bit on the small side, but there is a second full porcelain bathroom with a white subway tile surround for a tub/shower.

The third floor features a third bedroom, a flex space that could also be a home office, study or gym. It opens out onto a private deck cut into the roof of the building.

The lower level features direct access to a one-car garage and a half flight farther down to a carpeted space, ideal for a family room, with an adjacent half bathroom.

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Casino hopefuls launch effort to fight repeal of gaming law

High-rolling casino developers, intent on protecting their Bay State investments, are planning to throw their weight behind a new political committee aimed at fighting the anti-casino ballot question, adding to the potential for a fundraising arms race toward the November vote.

"We are definitely part of trying to send a message of all the positive the legislation brings and we'll be active in that. I'm sure we'll be active and involved in strategy," said Mitchell Etess, chief executive officer of Mohegan Sun, which with Penn National Gaming and MGM Resorts, will help fund and support the newly created Committee to Preserve Jobs Associated with Casino Gaming Law, according to people with knowledge of its efforts.

"We'll obviously form a budget and there will be a campaign. As far as the extent of the budget ... we want to get a positive message out there and it's whatever it takes for that," Etess said.

Penn National won the right to build a slots parlor in Plainville, and MGM won the Springfield casino license. Mohegan Sun, which wants to build a casino in Revere, is competing with Wynn Resorts' Everett proposal for the sole Boston area license. A Wynn spokesman could not be reached yesterday.

"We look forward to a statewide education campaign to share with Massachusetts voters the benefits of the proposed resort casinos including more than 10,000 good-paying construction and permanent jobs with benefits and hundreds of millions in revenue annually to our cities and town," read a statement released by attorney Thomas R. Kiley, the committee's chairman.

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Uber secretive about Hub details

Uber, the private car service app taking Boston by storm, is so shrouded in secrecy that company officials won't answer basic questions such as how many complaints were made against drivers, how many have been fired for misconduct — or even how many are working in town.

The young tech company's spokesman, Taylor Bennett, even refused to answer how many trips Boston riders have taken with Uber, and instead emailed marketing copy on the benefits of the service.

"While that is proprietary, we've done hundreds of thousands of trips since launching back in 2011," Bennett said in an email. "Overall, we've received overwhelming support from both riders and drivers since our launch."

According to Bennett, the number of Uber rider complaints is also kept secret, including gripes about surge pricing, a controversial feature that temporarily hikes fares during peak ridership.

Bennett declined repeated requests for an interview with Uber leadership and insisted the Herald send all questions via email. He did not respond to several follow-up questions yesterday, including whether the company plans to increase transparency.

The red-hot tech startup last month raised 
$1.2 billion in venture capital funding that had investors estimating the worth of the smartphone app transportation service at a whopping $17 billion.

The cash infusion was reportedly led by Fidelity Investments and other backers including Wellington Management, Summit Partners, BlackRock Inc., venture capital firm Kleiner Perkins Caufield & Byers, and existing investors such as Google Ventures and Menlo Ventures.

Uber has also come under fire from cab companies beefing that the service is unregulated. A local class-action lawsuit filed last month alleges the company classifies certain drivers as independent contractors, illegally forcing them to pay for gas, insurance and other expenses.

The app service boasts of a "two-way street" feedback feature that allows drivers and passengers to evaluate one another on a five-star rating system after each ride. While riders can see a driver's rating, riders can't see how drivers rate them unless they email customer service.

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GFC builds striking, sustainable condos

It's not easy to get contemporary architecture built in the area's traditional neighborhoods of two- and three-family houses.

But one local development company has created a niche by hiring architects to create housing to attract design-conscious buyers. For Charles Aggouras and Daniel DiPierro of GFC Development, progressive design along with a focus on sustainability differentiates their condos from others on the market.

"We've developed a successful niche by appealing to buyers who want a contemporary look with stylish details and high-efficiency green systems," said GFC president Aggouras.

Aggouras thinks contemporary design is "cool," and he sees it going hand-in-hand with sustainable development.

Aggouras said designing green does more than just save energy: "You build with better windows, insulation, roofing, and in the end create a better product." At 57 Endicott Ave., just off Teele Square in Somerville, GFC built a contemporary-style three-unit eco-friendly building whose exterior was clad with red corrugated steel in a neighborhood of two-family wood homes.

"The neighbors were aghast, but the project sold out very quickly," said architect Jim Zagewitz of MZO Group, who has designed a number of GFC's developments. "A lot of this is driven by millen­nials looking for something different, and there's also a lot of buyers from overseas who feel more comfortable with contemporary design than our traditional gables."

Aggouras' belief in sustainability led him to do a zero net energy house, one that produces more energy than it uses, on city-owned land at 64 Catherine St. on the Jamaica Plain/­Roslindale line. The two-unit project, part of Boston's E+ demonstration program, had to have optimal south-facing roofs for solar photo­voltaic panels, making for a nontraditional shape.

GFC's 15-unit Maxwell's Green townhouse condos near Magoun Square and the five units at 6-8 Beacon St. in Somerville had contemporary design and sold quickly at high prices. They are designed with what's become GFC's signature look, an exterior that combines corrugated metal, cedar, Hardieplank and architectural stone block with very tall windows.

The three/four level interiors have high ceilings, staircases with glass railings, flex rooms for third bedrooms, private balconies and attached one-car garages on the bottom floor. And they include home auto­mation, music systems, Euro-style appliances and fixtures and tankless water heaters — along with such touches as showers with linear drains.

"When we come to the neighborhoods with our designs, they aren't drawn on a cocktail napkin," Aggouras said. "A lot of thought goes into the design of each one. It's a lot more work and takes more time. But we do it because we want to be proud of what we do."

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Shares of Sarepta dive on DMD drug data

Shares of Sarepta Therapeutics plunged by as much as 28 percent yesterday after the Cambridge company released data showing that patients taking its drug for Duchenne muscular dystrophy showed a progression of the muscle-wasting disease after nearly three years of use.

CEO Chris Garabedian said he still expects the Food and Drug Administration to approve eteplirsen next year based on the results, which showed a decline in walking ability at a rate slower than would be expected in DMD patients. Kimberly Lee, an analyst with Janney Montgomery Scott, said it would be difficult for eteplirsen to get accelerated approval because only six patients in the trial were on the drug.

The precipitous drop in the company's stock is not surprising, Lee said, because investors were expecting to see a stabilization of the disease.

"Instead, the disease is progressing," she said.

But Jenn McNary of Pembroke, whose son, Max, 12, was included in the trial and whose son, Austin, 15, was not, said she has seen firsthand the difference eteplirsen can make. Max can still walk and feed himself, she said, whereas Austin has lost the ability to lift a glass to his mouth and to move himself from his bed to his wheelchair.

"This drug was not meant to stop the disease's progression," McNary said. "What it was meant to do was to turn this serious form of muscular dystrophy into a milder form."

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FairPoint unions begin strike vote meetings Friday

SOUTH BURLINGTON, Vt. — Nearly 2,000 union employees of telecommunications firm FairPoint in northern New England are set to begin voting on whether to authorize a strike.

A meeting about the strike authorization vote is scheduled for Friday in South Burlington, Vermont. More meetings are set for Saturday in Bangor, Maine and Sunday in Portland, Maine and Manchester, New Hampshire.

The workers' contracts expire Aug. 2. International Brotherhood of Electrical Workers System Council T-9 and Communications Workers of America Local 1400 began negotiating April 25.

The vote is required in advance of a work stoppage, but doesn't require the union members to strike. Union leadership could make that decision later.

The company says service to customers will continue if there is a strike. Company officials say their offers to the union have been fair.

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