Inspira™ Technologies (NASDAQ:IINN), a company focused on innovative life-support and diagnostic technologies, announced today that it has received payment from its U.S. distributor, Glo-Med Networks, for delivery of its FDA-cleared INSPIRA™ ART100 systems.
The revenue, in the low hundreds of thousands of dollars, marks a significant milestone in the company's U.S. expansion strategy.
The payment is for INSPIRA ART100 systems that have been recently installed at a premier U.S. academic medical center, as previously announced by the company.
Inspira also revealed plans for additional installations at a second-leading academic medical center.
This development highlights the company's growing presence in the U.S. healthcare market.
The INSPIRA ART100 system, which has received FDA clearance, is designed for cardiopulmonary bypass procedures, circulating and oxygenating blood outside the body during cardiac surgeries.
The company's core technology used in the ART100 also serves as the foundation for its flagship INSPIRA™ ART500 system, which is currently under development.
The ART500 is being designed to provide direct blood oxygenation for respiratory failure patients without the need for mechanical ventilation.
Inspira aims to revolutionize the $19 billion mechanical ventilation market with the ART500, offering a potentially safer alternative that allows patients to remain awake during treatment.