Medical device manufacturer Inspira has signed a Letter of Intent (LOI) with Northwestern Memorial Hospital in Chicago, for the clinical use of the company’s ART100 INSPIRA
Inspira Technologies, an Israeli public company traded on Nasdaq, a pioneer in the field of life-saving treatments, which aims to replace traditional mechanical ventilators, announced the signing of a non-binding letter of intent (LOI) with Northwestern Memorial Hospital in Chicago, USA.
This is a leading hospital that was ranked as the eighth best hospital in the United States by Newsweek in 2023, and is part of Northwestern Medicine, which operates several hospitals in the United States.
The current agreement expresses the mutual interest of both parties to continue to examine potential cooperation regarding the assessment of how the company’s medical equipment, model INSPIRA ART100, matches the needs of hospitals in clinical scenarios, including work efficiency and medical treatment. As part of the agreement, Northwestern undertakes to purchase all the consumables necessary to operate the devices and will provide Inspira with all the data and insights from the use of the company’s medical devices. The terms of the LOI are subject to receiving regulatory approval from the US Food and Drug Administration (“FDA”) for the device in the first half of 2024.
Joe Hayon, President of Inspira Technologies: “We believe that the opportunity to test and evaluate the ART100INSPIRA with a leading US hospital like Northwestern will pave a significant path for us to enter the American market.”
Inspira’s innovative solutions pave the way for direct blood oxygenation, which bypasses the lungs and can reduce the need for the traditional mechanical ventilators that are in use today. Beyond that, the company develops technologies for monitoring and controlling blood flow and integrating monitoring and prediction capabilities through royal intelligence
