BATM wins $31m European ventilators deal

Zvi Marom  / Photo: Eyal Izhar, Globes

A European government has ordered 1,000 ventilators to be delivered this year to treat Covid-19 in intensive care units.

Israeli networking solutions and medical laboratory systems provider BATM (LSE: BVC; TASE: BVC) has announced a $31 million order for the delivery of 1,000 critical care mechanical ventilators to a European government. The Group has received an upfront fee of €7.25 million and expects the balance to be paid on completion of delivery in the second half of 2020.

The ventilators will be used in Intensive Care Units for adults and children with Covid-19. BATM's high-performance ventilator features spontaneous breathing modes to enable synchronization with a patient's breathing, and has already received full CE certification with further certifications pending.

Production is commencing immediately with 25% of the ventilators expected to be delivered by the end of June and the remainder in the third quarter of 2020. The ventilators are being manufactured by BATM's Celitron unit in Hungary, which has been producing medical equipment for over 10 years.

BATM also reports progress with its Covid-19 diagnostic kits. The company continues to ramp up delivery of its kits that are for use by medical facilities and the development of its kit for home-use, in partnership with Novamed, is on track to be completed within the next three months as planned.

BATM CEO Dr. Zvi Marom said, "Since the beginning of the SARS-CoV-2 (COVID-19) outbreak, our bio-medical businesses have been active in seeking solutions to support the global response. We are now able to offer a critical care ventilator alongside our diagnostic products, which are all high-performing solutions that we continue to innovate and improve. This is a significant order, which we expect to expand, and we are proud that we will be able to make a difference to the lives of so many people who are fighting this virus. We are continuing to dedicate the efforts of our bio-medical businesses to help public health authorities combat this pandemic as well as to provide solutions to support them in the aftermath."

Published by Globes, Israel business news - www.globes-online.com - on April 22, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Zvi Marom  / Photo: Eyal Izhar, Globes
Zvi Marom / Photo: Eyal Izhar, Globes
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