By Chris Wack
Inspira Technologies Oxy B.H.N. Ltd. shares rose 34% to $3.08 after the company said it signed an exclusive summary distribution agreement with Glo-Med Networks Inc. for distribution across six states in the U.S.
The company said the summary distribution agreement will be followed by a more comprehensive agreement.
The agreement with Glo-Med follows the distribution agreements signed in the last quarter of 2021 targeting $174 million in Europe, and has an initial term of seven years.
Inspira said the companies will collaborate on the marketing and deployment of its ART system, designed to treat deteriorating respiratory failure patients, while they are awake and spontaneously breathing.
Glo-Med Networks has committed to purchase a minimum order of 2,121 ART systems and 131,413 disposable units for deployment at hospitals and medical centers, Inspira said.
Write to Chris Wack at [email protected]
