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Inspira Technologies (Nasdaq: IINN) has announced a partnership with Glo-Med Networks as its primary U.S. distributor for the INSPIRA ART100 device, which is FDA 510(k)-cleared for Cardiopulmonary Bypass procedures. The distribution facility, located in Florida, will support deployment and maintenance of the system, with Med-Stat Consulting Services providing certified after-market services.

The company's proprietary INSPIRA ART device aims to revolutionize life support for acute respiratory failure patients, targeting a potential $19 billion market opportunity with 20 million annual patients. The technology is designed to monitor and elevate declining blood saturation levels without requiring a mechanical ventilator, with planned deployment beginning in 2024.

Inspira Technologies (Nasdaq: IINN) ha annunciato una partnership con Glo-Med Networks come principale distributore statunitense per il dispositivo INSPIRA ART100, che ha ricevuto l'autorizzazione FDA 510(k) per le procedure di bypass cardiopolmonare. La struttura di distribuzione, situata in Florida, supporterà l'implementazione e la manutenzione del sistema, con Med-Stat Consulting Services che fornirà servizi certificati di assistenza post-vendita.

Il dispositivo proprietario INSPIRA ART dell'azienda mira a rivoluzionare il supporto vitale per i pazienti con insufficienza respiratoria acuta, puntando a un'opportunità di mercato potenziale di 19 miliardi di dollari con 20 milioni di pazienti annuali. La tecnologia è progettata per monitorare e aumentare i livelli di saturazione del sangue in calo senza richiedere un ventilatore meccanico, con il dispiegamento previsto che inizierà nel 2024.

Inspira Technologies (Nasdaq: IINN) ha anunciado una asociación con Glo-Med Networks como su distribuidor principal en EE. UU. para el dispositivo INSPIRA ART100, que ha sido aprobado por la FDA bajo el número 510(k) para procedimientos de bypass cardiopulmonar. La instalación de distribución, ubicada en Florida, apoyará la implementación y el mantenimiento del sistema, con Med-Stat Consulting Services proporcionando servicios de asistencia postventa certificados.

El dispositivo propietario INSPIRA ART de la compañía tiene como objetivo revolucionar el soporte vital para pacientes con falla respiratoria aguda, apuntando a una oportunidad de mercado potencial de 19 mil millones de dólares con 20 millones de pacientes anuales. La tecnología está diseñada para monitorear y elevar los niveles de saturación de oxígeno en sangre en declive sin requerir un ventilador mecánico, con el despliegue previsto iniciándose en 2024.

Inspira Technologies (Nasdaq: IINN)는 Glo-Med Networks와 파트너십을 체결하여 INSPIRA ART100 장치의 주요 미국 유통업체가 되었음을 발표했습니다. 이 장치는 심폐 우회 수술에 대해 FDA 510(k) 승인을 받았습니다. 플로리다에 위치한 유통 시설은 시스템의 배치 및 유지 관리를 지원하며, Med-Stat Consulting Services가 인증된 애프터마켓 서비스를 제공합니다.

회사의 독점 장치인 INSPIRA ART는 급성 호흡 부전 환자를 위한 생명 지원을 혁신하는 것을 목표로 하며, 연간 2천만 환자를 대상으로 190억 달러의 시장 기회를 겨냥하고 있습니다. 이 기술은 기계 인공호흡기 없이 감소하는 혈중 산소 포화 수준을 모니터링하고 증가시키도록 설계되었으며, 2024년부터 배치가 계획되고 있습니다.

Inspira Technologies (Nasdaq: IINN) a annoncé un partenariat avec Glo-Med Networks en tant que principal distributeur aux États-Unis pour l'appareil INSPIRA ART100, qui a été agréé par la FDA 510(k) pour les procédures de pontage cardiopulmonaire. L'installation de distribution, située en Floride, soutiendra le déploiement et la maintenance du système, avec Med-Stat Consulting Services fournissant des services certifiés après-vente.

L'appareil INSPIRA ART de la société vise à révolutionner le soutien vital pour les patients en cas d'insuffisance respiratoire aiguë, ciblant une opportunité de marché potentielle de 19 milliards de dollars avec 20 millions de patients annuels. La technologie est conçue pour surveiller et élever les niveaux de saturation sanguine en déclin sans nécessiter un ventilateur mécanique, le déploiement prévu commençant en 2024.

Inspira Technologies (Nasdaq: IINN) hat eine Partnerschaft mit Glo-Med Networks als Hauptvertriebspartner in den USA für das Gerät INSPIRA ART100 bekannt gegeben, das die FDA-Zulassung 510(k) für kardiopulmonale Bypass-Verfahren erhalten hat. Die Vertriebsstelle in Florida wird die Implementierung und Wartung des Systems unterstützen, während Med-Stat Consulting Services zertifizierte Aftermarket-Services bereitstellen wird.

Das proprietäre Gerät INSPIRA ART des Unternehmens zielt darauf ab, die lebenswichtige Unterstützung für Patienten mit akutem Atemversagen zu revolutionieren, wobei es auf eine potenzielle Marktmöglichkeit von 19 Milliarden Dollar mit 20 Millionen jährlichen Patienten abzielt. Die Technologie ist so konzipiert, dass sie abnehmende Sauerstoffsättigungswerte überwacht und anhebt, ohne dass ein mechanisches Beatmungsgerät erforderlich ist. Die geplante Einführung beginnt im Jahr 2024.

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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.

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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

FAQ

What is the market potential for Inspira Technologies' INSPIRA ART device (IINN)?

The INSPIRA ART device targets 20 million patients annually with acute respiratory failure, representing a potential market opportunity of $19 billion.

When is Inspira Technologies (IINN) planning to deploy the INSPIRA ART100 in the US?

Inspira Technologies plans to begin deployment of the INSPIRA ART100 in 2024 through their distribution partnership with Glo-Med Networks.

What FDA clearance has Inspira Technologies (IINN) received for the INSPIRA ART100?

The INSPIRA ART100 has received FDA 510(k) clearance specifically for Cardiopulmonary Bypass (CPB) procedures.

Where will Inspira Technologies' (IINN) new U.S. distribution facility be located?

The distribution facility will be located in Florida and will be fully operated by Glo-Med Networks.

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