In a significant development, Inspira Technologies OXY BHN Ltd. (Nasdaq: IINN), a pioneer in redefining acute respiratory care, has announced a significant distribution agreement with CIO MED GROUP, a prominent technology and medical devices distributor in Central America. This exclusive agreement is envisaged to generate a potential revenue of $28 million over a span of five years.
The distribution agreement has an initial tenure of five years, contingent upon regulatory approval. Both parties are set to collaborate on marketing and deploying the INSPIRA ART devices, including the INSPIRA ART100, which has recently been submitted for FDA Clearance. With an expected approval timeline of approximately six months, the INSPIRA ART100 is designed to offer Cardio and Pulmonary Support, heralding a new era of respiratory care.
Photo: Dagi Ben-Noon, Inspira CEO
Further, the agreement encompasses the flagship INSPIRA ART500 and HYLA Blood Sensor Technology. This collaboration aims to transform external breathing assistance for over 20 million patients annually, reducing reliance on mechanical ventilation. The current mechanical ventilation machinery often leads to multiple complications, causing physical damage, infections, and, in severe cases, death.
Originating from Israel, Inspira Technologies has been on a mission to bring a paradigm shift in acute respiratory care. Their innovative approach empowers breathing without the reliance on lungs, aiming to reduce the necessity of mechanical ventilation systems. Additionally, the company is committed to providing advanced blood circulation technology, integrating AI-driven monitoring and analytics to foster patient-centric, data-driven solutions. This concerted effort aims at enhancing patient outcomes and optimizing hospital efficiency.
Joe Hayon, the President and co-founder of Inspira, expressed his enthusiasm over the agreement, noting: “This agreement represents an exciting opportunity for us to expand our offering of innovative products to the medical community and patient population in Central America as we prepare for our INSPIRA ART100 systems FDA clearance.”
Photo: Inspira ART 500
Photo: Inspira ART 500
The partnership with CIO MED GROUP is expected to significantly broaden Inspira’s footprint in Central America, bringing their ground-breaking products closer to the medical community and patients in the region. As the INSPIRA ART100 system awaits FDA clearance, the anticipation grows among the stakeholders and within the medical fraternity, constantly on the lookout for innovative solutions to age-old challenges.
Looking ahead, by introducing innovative products like the INSPIRA ART100 and INSPIRA ART500, Inspira Technologies is expanding its market reach and contributing significantly to a global healthcare cause. The company’s last milestone is a testament to Inspira’s unwavering commitment to redefining respiratory care, significantly impacting patients’ lives, and setting a high standard in the healthcare industry.