IR-MED SIGNS AGREEMENT TO EXPAND ITS PRESSURESAFE DEVICE USABILITY STUDY

The study will expand to Rabin Medical Center (RMC), in parallel to Beit-Rivka, turning the study to a double center usability study.

Rosh Pinna, Israel, Feb. 14, 2023 (GLOBE NEWSWIRE) -- (“IR-MED or the “Company”) (OTCQB:IRME), an innovative medical device company that is developing non-invasive, real-time detection devices utilizing Infra-Red light spectroscopy (IR) and Artificial Intelligence (AI) for use by healthcare professionals, has announced that its wholly-owned subsidiary IR-Med Ltd. has signed an agreement with Rabin Medical Center (RMC) in Israel to perform a usability study, as an additional study center to the current study that the Company has been performing at Beit-Rivka, a large geriatrics hospital in Israel. The agreement is to conduct a usability study of our proprietary and patent protected “PressureSafe” device, which we plan to launch as a decision support system (DSS) tool for care givers in Hospitals, Nursing homes and Home-Care companies.

Rabin Medical Center (RMC) is one of the largest and more prominent medical facilities in Israel. In addition to first-rate medical care, RMC is renowned for its scientific research, technological development and medical achievements. Affiliated with Tel-Aviv University Sackler School of Medicine, RMC collaborates with some of the largest and most esteemed medical centres world-wide. RMC recently received international accreditation for safety and quality standards from JCI (Joint Commission International) a most prestigious organization for evaluation of health care organizations.

The PressureSafe device employs Infrared (IR), Artificial Intelligence (AI) and other proprietary technologies for the early detection of pressure injuries (PI) forming under the skin and underlying tissue. The device offers caregivers the ability to quickly identify conditions which are latent or invisible to the naked eye regardless of skin tone. Dark skin tone population are prone to suffer more than double (https://pubmed.ncbi.nlm.nih.gov/33626163/) rom pressure injuries, compared to white skin tone, due to the fact that redness on their skin is less detectable by the caregivers, which is the current method of detecting pressure injuries.

PI is a major challenge for care providers throughout the world. Failure to identify and treat is potentially fatal, with an estimated 60,000 mortalities from PI in the US each year. A study published in 2019 measured the total cost of acute care attributable to Hospital Acquired Pressure Injury (HAPI) for the entire United States at over $26.8 billion (https://onlinelibrary.wiley.com/doi/pdf/10.1111/iwj.13071). PIs remain a concern with regard to hospital quality in addition to being a major source of economic burden on the US health care system. It is expected that Hospitals would need to invest more in quality improvement of early detection and care for PI to avoid higher costs. In many countries, including the US, hospitals and nursing homes are penalized when failing to prevent PI while patients are in their care, including no reimbursement for the cost of treating PI.

Yoram Drucker, Vice President, Business Development and a Director, stated “We are glad to have reached the stage of signing with Rabin Medical Center (RMC) for the expansion of the usability study of our PressureSafe device, which has the potential to provide accurate and real time information on the patient’s status and may prevent development of Pressure Injuries. The agreement should support the Company usability study in a major hospital mainly due to the variety patients we will be subjected to, with broader spectrum of possible treatments for different wounds and indications.”

Clalit, Israel's largest HMO, which owns both RMC and Beit Rivka is at the forefront of adapting innovations to provide the best healthcare to its patients.

About IR-MED

IR-MED Inc., is developing a non-invasive spectrographic analysis technology platform, allowing healthcare professions to detect and measure different molecules in the blood and in human tissue in real-time without any invasive procedures. The first product under development is a handheld optical monitoring device that is being developed to support early detection of pressure injuries (PI) to the skin and underlying tissue, regardless of skin tone and which calibrated personally to each patient’s body. (Personalized Medical Device For Equal Treatment)

IR-MED technology allows high accuracy readings of biomarkers in a non-invasive method, that may provide caregiver the optimal decision support-system in cases where uncertainties disturb physicians in their decision processes.

IR-MED holds patents protecting its innovation in the noninvasive tissue analysis, and in the modeling and analysis of sub epidermis tissue.

Safe Harbor Statement / Forward-Looking Statements

Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of IR-MED are subject to many factors including, but not limited to, the sufficiency or working capital and our ability to raise the capital needed to fund our development efforts, the device design and development efforts reported here, the success of and the results of clinical studies and trials, timing of product development, FDA approval/clearance of products in development, customer acceptance of our products in the market, the introduction of competitive products, the impact of any product liability or other adverse litigation, commercialization and technological difficulties, and the other risks identified in our most recent annual report on Form 10-K filed on March 31, 2022 with the Securities and Exchange Commission. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information, or otherwise.

Contacts

Moshe Gerber, Chief Executive Officer
info@ir-medical.com

Released February 14, 2023