RA'ANANA, Israel, Jan. 2, 2024
/PRNewswire/ -- Inspira Technologies OXY
B.H.N
Ltd. (Nasdaq: IINN) (Nasdaq: IINNW) (the
"Company" or "Inspira Technologies"), a pioneer in life support
technology with a vision to supersede traditional mechanical
ventilators, has announced the signing of a non-binding Letter of
Intent (LOI) with Northwestern Memorial Hospital in
Chicago, Illinois
("Northwestern"). Northwestern, ranked as the eighth best
hospital in the United States by
Newsweek in 2023, is part of Northwestern Medicine, which operates
several hospitals in the United
States.
The LOI expresses the mutual interest by both parties to
further explore potential collaboration regarding the
evaluation of how the INSPIRA ART100 device ("Device" or "Devices")
aligns with Northwestern's needs in clinical scenarios, workflow
efficiency, and healthcare delivery. Northwestern will also agree
to purchase all necessary disposables to operate the Devices and
will, in turn, provide Inspira Technologies with valuable data and
Device diagnostics from its usage. The terms of the agreement
contemplated by the LOI are subject to U.S. Food & Drug
Administration ("FDA") clearance of the Device in the first half of
2024 as well as the parties entering a definitive evaluation
agreement.
Joe Hayon, President of
Inspira Technologies, commented: "We believe that
an opportunity to evaluate the INSPIRA ART100 with a leading
hospital, such as Northwestern, may evolve into a significant route
to entering the healthcare market in the U.S."
About Northwestern Memorial Hospital
Northwestern Memorial Hospital ("Northwestern"), based in
Chicago, is a leading academic
medical center. Northwestern has earned significant recognition on
the U.S. News & World Report's "America's Best Hospitals" list
for 2023. Recognized as the seventh most prestigious institution in
cardiology, heart & vascular Surgery and the eighteenth most
prestigious institution in pulmonology & lung surgery,
Northwestern is also a large lung transplant center. Northwestern
achieved recognition as a Gold Level Extracorporeal Life Support
Organization Center of Excellence.
Inspira Technologies OXY B.H.N Ltd.
Inspira Technologies is leading the way in transforming
life-support care. Its innovative solutions are paving the way for
direct blood oxygenation, bypassing the lungs, and potentially
reducing the need for traditional mechanical ventilation. Beyond
this, the Company is committed to advancing blood circulation
technology and incorporating AI-driven monitoring systems. These
advancements are part of its strategy to offer more
patient-focused, data-informed care. The integration of these
technologies signifies the potential to enhance patient outcomes
and streamline hospital operations, marking a new era in
respiratory care.
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 under US Federal securities laws. These forward-looking
statements and their implications are based only on the current
expectations of the management of the Company. They are subject to
several factors and uncertainties that could cause results to
differ materially from those described in the forward-looking
statements. For example, the Company uses forward-looking
statements when it discusses the Company's vision to supersede
traditional mechanical ventilators, the anticipated FDA clearance
of its INSPIRA ART100, the prospective mutually beneficial outcomes
of the LOI, including Northwestern's commitment to purchase all
necessary disposables to operate the Devices, the belief that
this LOI may evolve into a significant route to entering the
healthcare market in the U.S., and that it intends to enter into a
definitive agreement with Northwestern. Inspira and Northwestern
may not ultimately reach an agreement on definitive terms as a
result of signing the non-binding LOI described herein and the
cooperation contemplated herein may not occur. 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 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, 2022, filed with the SEC, which is available on the
SEC's website, www.sec.gov.
For more details:
Public Relations Manager
Adi Shmueli
Inspira Technologies
info@inspirao2.com
+972-9-9664485
Copyright © 2018-2023 Inspira Technologies OXY B.H.N. LTD., All
rights reserved.
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SOURCE Inspira Technologies