RA'ANANA, Israel - Inspira Technologies OXY B.H.N. Ltd. (NASDAQ:IINN), a medical technology innovator, has entered into a preliminary agreement with Beilinson Hospital, a leading organ transplant center in Israel, to evaluate its INSPIRA ART100 device in organ transplant procedures. This device is part of Inspira's Augmented Respiration Technology (ART) portfolio and has not yet been tested or approved for human use.
The term sheet, which is a precursor to a definitive evaluation agreement, outlines the collaboration between Inspira and Beilinson Hospital, where the hospital will provide Inspira with access to data and feedback from the use of the INSPIRA ART100 device. Beilinson Hospital, responsible for over 70% of Israel's organ transplants, is recognized for its expertise in kidney, lung, heart, liver, and pancreas transplants.
Dr. Dan Gorfil, head of the Cardiothoracic Surgery Intensive Care Unit at Beilinson Hospital, expressed optimism about the collaboration's potential to improve patient outcomes in organ transplants. Inspira's CEO, Dagi Ben-Noon, echoed this sentiment, highlighting the importance of the partnership for advancing patient care in this field.
The implementation of this agreement is contingent upon regulatory approval from the Israeli Ministry of Health Medical Device Division. The company's announcement emphasizes the potential benefits of the INSPIRA ART100 device but also includes a disclaimer regarding forward-looking statements, acknowledging that actual results may differ from current expectations.
This collaboration represents a step forward for Inspira Technologies in exploring new applications for its medical devices beyond respiratory treatments. The company's ART technology aims to provide an alternative to traditional mechanical ventilation systems, potentially allowing patients to remain conscious during treatment and reducing the risks associated with invasive procedures.
The information in this article is based on a press release statement from Inspira Technologies.
InvestingPro Insights
In the wake of Inspira Technologies' (NASDAQ:IINN) recent announcement about their preliminary agreement with Beilinson Hospital, investors may want to consider several financial metrics and expert insights from InvestingPro that could impact the company's stock performance. Notably, Inspira Technologies holds more cash than debt on its balance sheet, which could provide a measure of stability as the company continues to innovate and seek regulatory approvals. Moreover, the company's liquid assets exceed short-term obligations, suggesting a solid footing for managing near-term financial needs.
However, investors should be aware that Inspira Technologies is not profitable over the last twelve months as of Q1 2023, with an adjusted EBITDA of -12.02M USD. The company's Price / Book ratio stands at 5.82, indicating a high valuation compared to the company's book value, which may be a point of consideration for value-focused investors. Despite these challenges, the stock has seen a strong return over the last three months, with a 115.8% price total return, and a significant price uptick over the last six months at 49.53%.
For those interested in further analysis, InvestingPro offers additional insights and metrics. There are 9 more InvestingPro Tips available, which can help investors better understand the potential risks and opportunities associated with Inspira Technologies' stock. To access these tips, visit: https://www.investing.com/pro/IINN. Remember, you can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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