Signature of a strategic agreement with Waas Group for the deployment of 1,040 ART systems in Spain and Portugal
Agreement to potentially provide $ 66 million to Inspira Technologies over 7 years, subject to regulatory approval
Posted: October 26, 2021 at 9:54 a.m. EDT|Update: 45 minutes ago
RA’ANANA, Israel, October 26, 2021 / PRNewswire / – Inspired OXY BHN Technologies Ltée. (Nasdaq: IINN) (Nasdaq: IINNW) (the “Company” or “Inspira Technologies”), a revolutionary respiratory assistive technology company, today announced that it has signed an exclusive distribution agreement with Anita Technical SL. (WAAS group), one of the spain major distributors and technical service providers of medical equipment and supplies. The WAAS Group provides services to more than 40 international companies and devices, including respiratory systems for Siemens Healthineers AG ADR (Nasdaq: SMMNY) and Drägerwerk AG & Co. KGaA, Drägerwerk AG.
The agreement has an initial term of 7 years, subject to completion of product development and regulatory approval. The parties will collaborate on the commercialization and deployment of the ART device, designed to treat patients with deteriorating respiratory failure while they are awake and breathing. ART, an early extracorporeal respiratory support system, has the potential to minimize the need for mechanical ventilation through Spain and Portugal.
According to the agreement, Anita Técnica SL (WAAS group) commits to purchase a minimum of 1,040 ART devices and 35,360 disposable units for deployment in hospitals and medical centers over a period of seven years, subject to approval. regulatory for the sale and marketing of ART devices in Spain and Portugal.
“Portugal and Spain are important markets in Europe who have extensive experience in the exploitation of extracorporeal technologies. We see this as an advantage in ensuring the rapid penetration and adoption of our innovative ART device by the local medical community. The WAAS Group team has an impressive track record in entering the local market with innovative products and exploiting them within the medical community, ”said Joe Hayon, co-founder, president and chief financial officer of Inspira Technologies.
Antonio Sanz, CEO of WAAS Group, said: “This agreement represents an exciting opportunity for us to expand our offering of innovative products to the medical community and the patient population in Spain and Portugal. ART is a disruptive technology that has the potential to change the way the world plans to treat patients with respiratory failure. “
About Inspira Technologies OXY BHN Ltée.
Inspira Technologies is an innovative medical device company in the respiratory care industry. Inspira is developing the ART device, an early and cost-effective extracorporeal respiratory support system with the intention of functioning as an “artificial lung” for patients with respiratory disorders. The ART device designed to use a hemoprotective flow approach to rebalance saturation levels while patients are awake and breathing, potentially minimizing the patient’s need for mechanical ventilation. The company’s product has not yet been tested or used in humans and has not been approved by the United States Food and Drug Administration (FDA).
For more information, please visit our corporate website: www.inspirao2.com
About Anita Technical SL. (WAAS Group)
ANITA TECNICA SL is located at MADRID, Spain. Anita Technical SL. (WAAS Group) is one of spain major distributors and technical service providers of medical equipment and supplies. The WAAS group provides services to more than 40 international companies and devices, including respiratory systems.
Disclaimer regarding forward-looking statements
This press release contains forward-looking statements, expressed or implied, in accordance with US federal securities laws. For example, the Company uses forward-looking statements when discussing the terms of an exclusive distribution agreement with Anita Technical SL. (WAAS Group), the potential revenues for Inspira and that ART has the potential to minimize the need for mechanical ventilation through Spain and Portugal. These forward-looking statements and their implications are based on the current expectations of the Company’s management only and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements. . statements. Unless otherwise required by law, the Company does not undertake to issue revisions of these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events. More detailed information on the risks and uncertainties affecting the company is contained under the heading “Risk Factors” in the company’s registration statement on Form F-1 filed with the SEC, which is available on the website SEC Web, www.sec.gov.
For more details:
Miri Segal, Investor Relations, MS-IR LLC
+ 917-607-8654, [email protected]
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SOURCE Inspira Technologies
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