A Digital Publication for the Practicing Medical Specialist, Industry Executive & Investor

Inspira Technologies Signs a Strategic Agreement in the U.S. to Target $214 Million for Inspira Over a 7-Year Period, Subject to Regulatory Approvals

The agreement is with U.S. based Glo-Med Networks for the potential deployment of 2,121 ART Systems in 6 U.S. States

Inspira Technologies OXY B.H.N. Ltd. (Nasdaq: IINN, IINNW) (the “Company” or “Inspira Technologies”), a groundbreaking respiratory support technology company, announced today that it has signed an exclusive summary distribution agreement with Glo-Med Networks Inc. (“Glo-Med”), for distribution across 6 states in the United States (Texas, New Jersey, New York, Florida, North Carlina and South Carolina).

Glo-Med targets to meet the growing demand for innovative medical devices and related products in domestic and international markets. Glo-Med maintains extensive access to next generation medical products globally via long-term partnerships and relationships with medical providers, as well as through their sister company, Med-Stat Consulting Services, Inc.
The summary distribution agreement will be followed by a more comprehensive agreement. The agreement with Glo-Med follows the distribution agreements signed in the last quarter of 2021 targeting approximately $174 million in Europe (Spain, Portugal, Poland, Czech Republic and Slovakia) subject to regulatory approvals. The agreement with Glo-Med has an initial term of 7 years, subject to the completion of product development and relevant regulatory approval. The parties will collaborate on the marketing and deployment of the ART system, designed to treat deteriorating respiratory failure patients, while they are awake and spontaneously breathing. The ART, an early extracorporeal respiratory support system, has the potential to minimize the need for invasive mechanical ventilation.
Pursuant to the agreement, and in order to maintain exclusivity in the territory, Glo-Med Networks has committed to purchase a minimum order of 2,121 ART systems and 131,413 disposable units for deployment at hospitals and medical centers, subject to regulatory approvals for the sale and marketing of the ART systems in the 6 states in the United States as mentioned above.
Joe Hayon, Inspira Technologies’ Co-Founder, President and Chief Financial Officer, stated: “It is an important milestone in the Company’s strategy to setup the infrastructure to penetrate the U.S. market. It’s an honor for us to work with Glo-Med Networks, and we are looking forward to a fruitful collaboration that may benefit the patient population to improve patient’s outcome. Upon approval of our ART by relevant regulatory authorities, the U.S. market size can provide Inspira Technologies a potential for the deployment of the ART. The Company is developing further infrastructure to penetrate the remaining U.S. states to adopt the ART system.”
Matus Knoblich, Glo-Med’s CEO, stated: “The COVID-19 pandemic has demonstrated the effectiveness of extracorporeal respiratory systems, which have been difficult to access due to their high cost and the large human resources they are required to operate. The ART system is designed to address these challenges and has the potential to meet the unmet need of the medical community and the large patient population with acute respiratory failure.  The ART system may become a game changer for the industry, and we are excited and honored to be a strategic and exclusive distributor for Inspira Technologies in the United States.”
Medical Device News Magazinehttps://infomeddnews.com
Medical Device News Magazine provides breaking medical device / biotechnology news. Our subscribers include medical specialists, device industry executives, investors, and other allied health professionals, as well as patients who are interested in researching various medical devices. We hope you find value in our easy-to-read publication and its overall objectives! Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

More News!

The Evolut ™ FX+ TAVR system leverages market-leading valve performance with addition of larger windows to facilitate coronary access
The study was an analysis of AstraZeneca’s Phase 2 52-Week clinical trial of tralokinumab in patients with Idiopathic Pulmonary Fibrosis (IPF). The patient data from the trial was processed with Brainomix’s e-Lung tool. The tool is uniquely powered by the weighted reticulovascular score (WRVS), a novel biomarker that incorporates reticular opacities and vascular structures of the lung.
“Since the algorithm for matching patients with donors is changing across for all organs, this was a prime time to better understand whether transplant team decisions to accept a donated organ varied by patient race and gender,” she said. “We wanted to understand how the process of receiving a transplant after listing varied by race and gender, and the combination of the two, so that steps can be taken to make that process more equitable," said Khadijah Breathett, MD.
The Mount Sinai study found that primary care physicians’ approach reflects a dearth of evidence-based guidance for lung cancer screening shared decision-making in patients with complex comorbidities
This is the first ever transplantation of a genetically engineered porcine kidney into a living human recipient.

By using this website you agree to accept Medical Device News Magazine Privacy Policy