InspireMD Completes First Phase of Manufacturing Upgrade
Published: August 26th, 2013
BOSTON, /PRNewswire/ -- InspireMD, Inc. (NYSE MKT: NSPR) ("InspireMD" or the "Company"), a leader in embolic protection stents, today announced it has completed the first phase of a manufacturing consolidation that the Company believes will improve its long term gross margins.
Simultaneously, the Company has signed an agreement with HealthLink Europe, a medical device support services and distribution company, to provide logistical and customer support for InspireMD's commercial operations and clinical activities. HealthLink will provide InspireMD with customer service center capabilities for inquiries from hospitals and distributors. HealthLink will also handle all inventory controls, warehousing, shipping, and invoicing and receivables management for customers worldwide on behalf of InspireMD.
Alan Milinazzo, President and CEO of InspireMD, commented, "We have successfully completed the first stage of our manufacturing strategy through the consolidation of our Israeli manufacturing facilities. Over time, we believe that this will reduce our operating costs by streamlining our manufacturing operations."
"As we prepare to announce the 12-month results from the MASTER trial in October, we continue to put in place the appropriate infrastructure to be able to meet the anticipated increase in demand for our lifesaving stent technology. The agreement with HealthLink Europe is intended to support both current commercial activities as well as ongoing clinical trials, and should provide us instant access to world-class customer logistics to support all of our customers through a single partner," concluded Mr. Milinazzo.
Rick Hughes, President of HealthLink Europe, commented "For nearly 20 years HealthLink has built an impressive track record of providing superior customer service and logistics support to the medical device industry. We look forward to working with InspireMD as the Company prepares for increased demand for its MGuard stent technology throughout Europe."
About Stenting and MGuard EPS
Standard stents were not engineered for heart attack patients. They were designed for treating stable angina patients whose occlusion is different from that of an occlusion in a heart attack patient.
In acute heart attack patients, the plaque or thrombus is unstable and often breaks up as the stent is implanted causing downstream blockages (some of which can be fatal) in a significant portion of heart attack patients.
The MGuard EPS is integrated with a precisely engineered micro net mesh that prevents the unstable arterial plaque and thrombus (clots) that caused the heart attack blockage from breaking off.
While offering superior performance relative to standard stents in STEMI patients with regard to ST segment resolution, the MGuard EPS requires no change in current physician practice – an important factor in promoting acceptance and general use in time-critical emergency settings.