Vyaire Medical Inc has signed a $407 million contract with the US Department of Health and Human Services (HHS) to produce 22,000 ventilators by the end of June in response to the coronavirus (COVID-19) pandemic.
The company will manufacture LTV2 2200 ventilators, the latest iteration in the popular LTV series of ventilators that are designed to be lightweight and portable in the healthcare setting.
The LTV2 2200, already in use in Japan, has received an Emergency Use Authorization from the Food and Drug Administration to enable rapid deployment in the US while the company pursues a 510(k) submission.
Vyaire will significantly ramp production of the LTV2 2200 in June to fulfill the HHS order.
“Vyaire Medical’s sole business is making and servicing respiratory devices and we are well-positioned to deliver much-needed equipment to our frontline responders as they treat patients suffering breathing difficulties as a result of the SARS-CoV-2 novel coronavirus,” said CEO Gaurav Agarwal. “Our team accelerated production and delivery of ventilators back in February, and we are grateful for the partnership with the Department of Health and Human Services to further expand production and speed the delivery of this essential medical equipment where it is most needed.”
Early in the crisis, Vyaire responded quickly to the pandemic by leveraging its global distribution network to deliver products to the areas most affected by the outbreak. The company then accelerated production of ventilators and other related respiratory equipment, hiring additional workers to add manufacturing shifts at its facility in Palm Springs, Calif, where the company makes most of the ventilators for the US.
