By Robb M. Stewart
Inspira Technologies Oxy B.H.M. Ltd.'s shares advanced Wednesday after the medical-device company contracted a unit of Hitachi Ltd. for the acquisition of an algorithm-enhanced digital platform for its early extracorporeal respiratory support system.
In morning trading, the shares were 14% higher at $3.33.
Inspira said it is progressing toward the production phase of its ART device's "brain," an algorithm-enhanced platform. ART is designed to provide oxygenation of blood and removal of carbon dioxide from the blood.
The company said that with Hitachi's GlobalLogic, it can integrate an advanced digital algorithm into the control platform and provide a more advanced digital experience.
The company said the product includes a feature designed to manage the early rebalancing of patient oxygen saturation levels. It also includes a digital algorithm-enhanced platform designed to activate and control proprietary technologies and data collected from advanced sensors that measure oxygen saturation, blood temperature, haemoglobin, and haematocrit as well as pressure and flow of blood, it said.
The ART device hasn't yet been tested or used in humans and hasn't been approved by the U.S. Food and Drug Administration.
In mid-July, Tokyo-based Hitachi completed the acquisition of GlobalLogic, a digital-product engineering company.
Write to Robb M. Stewart at firstname.lastname@example.org
(END) Dow Jones Newswires