CorVent Medical Awarded Expediated Sourcing Agreement With Premier For Its Critical Care Respond Ventilator

SANTA CLARA, CA, May 18, 2021 -- CorVent Medical, a private medtech company focused on developing versatile, lifesaving ventilators for critical care, today announced they have been awarded a group purchasing agreement with Premier Inc., a national group purchasing organization (GPO) alliance with approximately 4,400 U.S. hospitals. Effective October 1st, the new agreement provides Premier hospital members access to special pricing and terms for CorVent's RESPOND Ventilator, pre-negotiated by Premier, as part of an expediated sourcing agreement for ventilators. Under this agreement, the company has ventilators that are ready to ship for immediate use.

"The Premier network includes many of the top hospitals in the nation, and we are thrilled to provide its members access to the RESPOND Ventilator," stated Richard S. Walsh, CEO of CorVent Medical. "Over the last few years hospital respiratory needs have shifted to require more streamlined, flexible systems that have a lower cost of ownership. The RESPOND Ventilator meets that need with ICU-quality respiratory support in a reliable, easy-to-use system that does not require service and maintenance plans."

The RESPOND Ventilator expands critical care ventilation capacity to meet day-to-day demands and overflow ventilation needs in one easy-to-use, lightweight system. Designed to meet individual patient needs, the sophisticated system includes mandatory, assist, and spontaneous ventilation modes as well as built-in safeguards. Compatible with all low flow oxygen sources, the streamlined system enables efficient staff training and is ready to ventilate in under 10 minutes. In addition, the RESPOND Ventilator filters out 99.9% of viral pathogens to protect both patients and staff. Built in the US, the robust design eliminates the need for maintenance and service requirements, providing hospitals significant savings.

Premier is a leading healthcare improvement company, uniting an alliance of more than 4,400 U.S. hospitals and approximately 225,000 other providers and organizations to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and consulting and other services, Premier enables better care and outcomes at a lower cost.

About CorVent Medical, Inc.

CorVent Medical, a privately held portfolio company of medtech incubator Coridea LLC, is committed to developing versatile, lifesaving ventilators for critical care. The company's first product, the RESPOND Ventilator, provides ICU-quality respiratory support that expands ventilation capacity with reliable and affordable deployment when you need it most. The streamlined system enables sophisticated ventilation that includes lifesaving, life sustaining and weaning capabilities with excellent infection control. The robust, lightweight system eliminates the need for costly service and maintenance plans and was designed in partnership with Design Catapult and built in California in collaboration with Design Catapult Manufacturing. The RESPOND Ventilator has FDA Emergency Use Authorization (EUA), is CE Marked, and is available for sale in countries that accept those regulatory approvals. To learn more, please visit www.corventmedical.com.