Stockholm, November 17, 2020 - IRRAS AB, a commercial-stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, today announced that its Hummingbird family of intracranial pressure (ICP) monitoring equipment has been awarded a group purchasing agreement with Premier Inc. in the United States. Effective December 1, the new agreement allows Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for Hummingbird ICP Monitoring products.

Premier added the Hummingbird products to its list of contractually approved items in the neurosurgical critical care product category via its Technology Breakthroughs program. This selective program allowed IRRAS to gain status as an approved supplier outside of Premier's normal contract cycle.

"Today's announcement is a significant accomplishment for the commercial growth of IRRAS," said Will Martin, IRRAS' President and Chief Commercial Officer. "This contract accelerates our US Hummingbird launch by allowing our team to introduce the product to Premier's broad membership group of approximately 4,100 hospitals."

Assessment of a patient's ICP is a critical element of managing traumatic brain injury, and the Hummingbird product family is designed to continuously monitor a patient's ICP by placing a small probe directly into the brain tissue. Instead of using strain gauge or fiberoptic sensors like other ICP monitors, the Hummingbird system uses a small air bladder that allows simple setup and automatic, hourly ICP recalibration. This air bladder mechanism of action eliminates challenges that plague other systems, including cumbersome setup and ICP readings that cannot be recalibrated and become increasingly inaccurate over time.

Premier is a leading healthcare improvement company, uniting an alliance of approximately 4,100 US hospitals and 200,000 other providers to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and advisory and other services, Premier enables better care and outcomes at a lower cost.

1. Severe TBI. Centers for Disease Control and Prevention, Centers for Disease Control and Prevention, 2 Apr. 2019, www.cdc.gov/traumaticbraininjury/severe.html.
2. Traumatic Brain Injury Fact sheets and Policy brief. Center-TBI, https://www.center-tbi.eu/files/news/21571f81-20b8-4860-a3dd-1f6e27d02b3d.pdf.
 

About IRRAS

IRRAS is a global medical care company focused on delivering innovative medical solutions to improve the lives of critically ill patients. IRRAS designs, develops, and commercializes neurocritical care products that transform patient outcomes and decrease the overall cost of care by addressing complications

associated with current treatment methodologies. IRRAS markets and sells its comprehensive, innovative IRRAflow and Hummingbird ICP Monitoring product lines to hospitals worldwide through its direct sales organization in the United States and select European countries as well as an international network of distribution partners.

IRRAS maintains its headquarters in Stockholm, Sweden, with corporate offices in Munich, Germany, and San Diego, California, USA. For more information, please visit www.irras.com.

IRRAS AB (publ) is listed on Nasdaq Stockholm (ticker: IRRAS).

For more information, please contact:

USA

Kleanthis G. Xanthopoulos, Ph.D.
CEO
ir@irras.com

Europe

Sabina Berlin
CFO
+46 73 951 95 02
sabina.berlin@irras.com

The information was released for public disclosure, through the agency of the contact person above, on November 17, 2020 at 08:00 (CET).