Elbit Systems of America subsidiary selected for evaluation of U.S. Navy ventilator to help combat COVID-19

Rhea-AI Summary

KMC Systems, a subsidiary of Elbit Systems of America (NASDAQ: ESLT), has been chosen by the Department of Defense to assist in developing ventilator designs as part of the Vulcan-5 Ventilator Project to combat COVID-19. The project aims to ensure ventilator availability during surges in cases. KMC will evaluate five selected designs for manufacturability and component availability, leveraging its expertise in FDA-regulated environments. The initiative underscores KMC's commitment to provide rapid medical solutions amid the pandemic.

Positive

• Selected by the Department of Defense for the Vulcan-5 Ventilator Project, indicating strong government trust and a significant contract opportunity.
• KMC's extensive experience in FDA-regulated environments enhances the likelihood of successful ventilator production.
• Project aims to ensure ventilator availability during critical COVID-19 surges, aligning with national health needs.

Negative

• None.

FORT WORTH, Texas, Aug. 20, 2020 /PRNewswire/ -- KMC Systems, Inc. (KMC), a New Hampshire-based subsidiary of Elbit Systems of America (NASDAQ: ESLT) (TASE: ESLT),, has been selected by members of the Department of Defense – Defense Health Agency, United States Air Force Rapid Capabilities Office, and the Wright Brothers Institute to support the development and industrialization of ventilator designs to help combat COVID-19. Five matured ventilator designs were selected under the Vulcan-5 Ventilator Project, and KMC is currently assessing those designs for manufacturability, while confirming the availability of components. KMC was selected for this role due to its experience designing and manufacturing in a U.S. Food and Drug Administration-regulated environment. KMC has recently finished the assessment of an emergency ventilator prototype developed by a team from the U.S. Navy at Naval Surface Warfare Center Panama City Division.

Under the Vulcan-5 Ventilator Project, affordable designs for ventilators were sought that could resuscitate the damaged lung of a patient battling COVID-19. The Project's goal is to ensure ventilators are available during spikes of COVID-19 cases, where patients' lungs need assistance breathing and ventilators may be in short supply.

The Vulcan-5 Ventilator Project is sponsored by the U.S. Special Operations Command through the use of the Vulcan Innovation platform to accelerate the delivery of innovative solutions in the national security enterprise.

The Wright Brothers Institute is managing the funding provided by the U.S. government and coordinating with those participants that submitted the five selected ventilator designs.

"Our experience and expertise will help shape which designs are feasible for rapid delivery and, ultimately, help the country's response to the COVID-19 pandemic," said Derek Kane, Vice President & General Manager of KMC. "We're eager to support this effort to bring needed technology to medical facilities and patients at an unprecedented speed."

"KMC has specialized in design and manufacturing for some of the leading medical devices and life sciences companies for the last four decades. It's an honor that this Elbit Systems of America subsidiary can now apply its expertise to assist our country's need for ventilators during the COVID-19 pandemic," said Raanan Horowitz, President and CEO of Elbit Systems of America. "Our company mission is to provide innovative solutions that protect and save lives, and the Vulcan-5 Ventilator Project demonstrates our workforce's commitment to fulfil our mission using unique methods and non-traditional partnerships."

Learn more about Elbit Systems of America's medical device and life sciences diagnostics subsidiary, KMC Systems, Inc. at http://www.kmcsystems.com/.

More on the Vulcan-5 Ventilator Project at https://www.vulcan-v.com.

About KMC Systems
KMC Systems, Inc. is a medical device and life sciences diagnostic company that specializes in contract design and manufacturing services for some of the leading medical devices and life sciences companies around the world. KMC was founded in 1980 and has served the medical device and life sciences industry for 40 years. The company is based out of Merrimack, New Hampshire and is the medical subsidiary of Elbit Systems of America. For additional information, visit http://www.kmcsystems.com/ or follow them on Twitter, and LinkedIn.

About Elbit Systems of America, LLC
Elbit Systems of America, headquartered in Fort Worth, Texas, is a leading provider of high-performance products, system solutions, and support services focusing on the defense, homeland security, law enforcement, commercial aviation, and medical instrumentation markets. With facilities throughout the U.S., Elbit Systems of America is dedicated to supporting those who contribute daily to the safety and security of the United States. Elbit Systems of America, LLC is wholly owned by Elbit Systems Ltd. (NASDAQ: ESLT and TASE: ESLT), a global high technology company engaged in a wide range of programs for innovative defense and commercial applications. For additional information, visit: www.elbitsystems-us.com or follow us on Twitter, LinkedIn and Instagram.

About Elbit Systems
Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems. For additional information, visit: https://elbitsystems.com/, follow us on Twitter or visit our official Facebook, YouTube and LinkedIn Channels.

Trademarks
Elbit Systems of America and other trademarks, service marks and logos are registered or unregistered marks of Elbit Systems of America companies in the United States and in foreign countries. Copyright ©2020 Elbit Systems of America. All rights reserved.

Forward Looking Statement
This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management's current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business.  Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings.  The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies.  All other brand, product, service and process names appearing are the trademarks of their respective holders.  Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

Media Contacts:
Greg Caires | 682-286-2299 | greg.caires@elbitsystems-us.com
Amy Hartley I 682-286-2411 I amy.hartley@elbitsystems-us.com

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SOURCE Elbit Systems of America, LLC

FAQ

What is the purpose of the Vulcan-5 Ventilator Project related to ESLT?

The Vulcan-5 Ventilator Project aims to develop affordable ventilator designs to assist patients with lung issues during COVID-19 surges.

Who selected KMC Systems for the ventilator project?

KMC Systems was selected by the Department of Defense, including the Defense Health Agency and the U.S. Air Force Rapid Capabilities Office.

What is KMC Systems' role in combating COVID-19?

KMC Systems is assessing and developing ventilator designs to ensure their manufacturability and component availability during the pandemic.

What is the significance of the contract for ESLT's subsidiary?

The contract highlights KMC's capabilities and enhances its reputation in the medical device sector, potentially leading to future opportunities.