In the news release, Inspira™ Announces Establishment of
Distribution Facility to Support U.S. Deployment of INSPIRA™
ART100, issued 24-Oct-2024 by Inspira
Technologies over PR Newswire, we are advised by the company that
the first paragraph, should read "Inspira Technologies OXY B.H.N.
Ltd. (Nasdaq: IINN, IINNW) ("Inspira Technologies", "Inspira" or
the "Company"), a groundbreaking life support technology company,
is pleased to announce that it has entered into an agreement with
Glo-Med Networks Inc ("Glo-Med"), which will serve as Inspira's
primary distributor in the United
States. Glo-Med's distribution facility will serve as a
support center for the deployment of the INSPIRA ART100 in
the United States. The INSPIRA
ART100 is U.S. Food and Drug Administration (FDA) 510(k)-cleared
for Cardiopulmonary Bypass (CPB) procedures." rather than "Inspira
Technologies OXY B.H.N. Ltd. (Nasdaq: IINN, IINNW) ("Inspira
Technologies", "Inspira" or the "Company"), a groundbreaking life
support technology company, is pleased to announce that it has
entered into an agreement with Glo-Med Networks Inc ("Glo-Med"),
which will serve as Inspira's primary distributor in the United States. Glo-Med's distribution
facility will serve as a support center for the deployment of the
INSPIRA ART100 in the United
States. The INSPIRA ART100 is U.S. Food and Drug
Administration (FDA) 510(k)-cleared for Cardiopulmonary Bypass
(CPB) procedures.Inspira aims to revolutionize life support for
millions of acute respiratory failure patients each year with the
Company's proprietary INSPIRA™ ART device being designed to monitor
and elevate declining blood saturation levels in minutes without a
mechanical ventilator. Targeting 20 million patients each year, the
INSPIRA ART has a potential estimated $19
billion market opportunity. This agreement and distribution
facility aims to enhance the Company's operational efficiency and
customer service capabilities in the U.S. market. Toward the
planned deployment of the INSPIRA ART100 in 2024 and looking ahead,
the Company's goal is to introduce physicians and perfusionists to
Inspira's technologies and brand proposition in preparation for the
future planned deployment of the flagship INSPIRA ART." as
originally issued inadvertently. The complete, corrected release
follows:
Inspira™ Announces Establishment of Distribution Facility to
Support U.S. Deployment of INSPIRA™ ART100
The Company has signed a distribution agreement that assigns to
Glo-Med the role of Inspira's primary distributor and customer
support center in the U.S.
RA'ANANA, Israel, Oct. 24,
2024 /PRNewswire/ -- Inspira Technologies OXY
B.H.N. Ltd. (Nasdaq: IINN, IINNW) ("Inspira Technologies",
"Inspira" or the "Company"), a groundbreaking life support
technology company, is pleased to announce that it has entered into
an agreement with Glo-Med Networks Inc ("Glo-Med"), which will
serve as Inspira's primary distributor in the United States. Glo-Med's distribution
facility will serve as a support center for the deployment of the
INSPIRA ART100 in the United
States. The INSPIRA ART100 is U.S. Food and Drug
Administration (FDA) 510(k)-cleared for Cardiopulmonary Bypass
(CPB) procedures.
Inspira aims to revolutionize life support for millions of acute
respiratory failure patients each year with the Company's
proprietary INSPIRA™ ART device being designed to monitor and
elevate declining blood saturation levels in minutes without a
mechanical ventilator. Targeting 20 million patients each year, the
INSPIRA ART has a potential estimated $19
billion market opportunity. This agreement and distribution
facility aims to enhance the Company's operational efficiency and
customer service capabilities in the U.S. market. Toward the
planned deployment of the INSPIRA ART100 in 2024 and looking ahead,
the Company's goal is to introduce physicians and perfusionists to
Inspira's technologies and brand proposition in preparation for the
future planned deployment of the flagship INSPIRA ART.
The distribution facility, located in Florida, will play an important role in
supporting the deployment and maintenance of the INSPIRA
ART100 system and will potentially facilitate the commercialization
of additional products in the U.S. market in the future. The
medical distribution and service facility will be fully operated by
Glo-Med and will serve as a central hub for Inspira's logistics
operations, pursuant to the distribution agreement, ensuring the
timely and efficient distribution of the Company's innovative
medical devices. The facility will house a dedicated customer
support team providing comprehensive support services to healthcare
providers using Inspira's products. Additionally, the facility will
provide original equipment manufacturer certified after-market
services through a partnership with Med-Stat Consulting Services
("Med-Stat"), a reputable national biomedical engineering services
firm. Med-Stat was founded in 2003 and provides onsite and depot
medical equipment servicing for the largest and most reputable
healthcare facilities in the U.S.
Joe Hayon, co-founder and
President of Inspira Technologies, stated, "This distribution
agreement represents a crucial milestone in our efforts to
introduce Inspira's innovative technologies to the market. With
Glo-Med managing the deployment and maintenance of the INSPIRA ART
100 system in the U.S., I believe that we are well-positioned for
the future launch of our flagship INSPIRA ART and other products in
our pipeline."
Matus Knoblich, CEO of
Glo-Med, stated, "I believe that the coupling of Glo-Med's
distribution network and capabilities with the industry leading
service provided by Med-Stat will create a fully vertically
integrated business model where customers can receive the highest
level of service and support within the industry sector. Both
companies will be working with the same mission in mind: growth and
expansion of the Inspira Technologies brand coupled with a fully
supported user experience. We believe that this will lead to
success for all participants."
Inspira™ Technologies OXY B.H.N. Ltd.
Inspira Technologies is an innovative medical technology company
in the life support and respiratory treatment arena. The Company
has developed a breakthrough Augmented Respiration Technology
(INSPIRA™ ART), a groundbreaking device poised to
revolutionize the $19 billion mechanical ventilation
market. With 20 million intensive care unit patients with acute
respiratory failure each year, many of whom rely on mechanical
ventilators, the INSPIRA ART offers a potential alternative by
elevating and stabilizing decreasing oxygen saturation levels in
minutes without a ventilators, with patient being awake during
treatment. The INSPIRA ART is being equipped with clip-on HYLA™
blood sensor, a real-time continuous blood monitoring technology,
aiming to alert physicians of changes in a patient's condition
without the need for intermittent actual blood samples, and
potentially supporting physicians in making informed decisions.
The Company's INSPIRA™ ART100 system has
obtained FDA 510(k) clearance for use in Cardiopulmonary Bypass
procedures, along with the Israeli AMAR certification for both
Extra-Corporeal Membrane Oxygenation and Cardiopulmonary Bypass
procedures.
The Company's other products and technologies, including the
INSPIRA ART also known as the INSPIRA™ ART500 or Gen 2, the
INSPIRA™ Cardi-ART portable modular device, VORTX orbiting
Oxygen Delivery System and HYLA™ blood sensor, are currently
being designed and developed, and have not yet been tested or used
in humans and have not been approved by any regulatory entity.
For more information, please visit our corporate
website: https://inspira-technologies.com
Forward-Looking Statement Disclaimer
This press release contains express or implied forward-looking
statements pursuant to U.S. Federal securities laws. These
forward-looking statements and their implications are based on the
current expectations of the management of the Company only and are
subject to a number of factors and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. For example, the Company is using
forward-looking statements when it discusses the expected benefits
of the agreement with Glo-Med, the aims of the agreement, the
potential benefits of the INSPIRA ART, the potential market size
for the INSPIRA ART, the expectation that the distribution facility
will play an important role in supporting the deployment and
maintenance of the INSPIRA ART100 system, the Company's goal to
introduce physicians and perfusionists to its technologies, that
the distribution center will facilitate the potential
commercialization of other future products, the belief that the
agreement represents a crucial milestone in our efforts to
introduce Inspira's innovative technologies to the market, the
belief that the Company is well-positioned for the future launch of
the INSPIRA ART and other products in its pipeline, the belief that
combining Glo-Med's distribution network and capabilities with
Med-Stat will create a fully vertically integrated business model
and the belief that this structure will lead to success for the
Company, Glo-Med and Med-Stat. These forward-looking statements and
their implications are based solely on the current expectations of
the Company's management and are subject to a number of factors and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. Except as
otherwise required by law, the Company undertakes no obligation to
publicly release any revisions to these forward-looking statements
to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events. More detailed
information about the risks and uncertainties affecting the Company
is contained under the heading "Risk Factors" in the Company's
annual report on Form 20-F for the fiscal year ended December
31, 2023 filed with the U.S. Securities and Exchange
Commission (the "SEC"), which is available on the SEC's
website, www.sec.gov.
Contact:
Inspira Technologies – Media Relations
Email: info@inspirao2.com
Phone: +972-9-9664485
MRK-ARS-118
Copyright © 2018-2024 Inspira Technologies OXY B.H.N. LTD., All
rights reserved.
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SOURCE Inspira Technologies