Stockholm, December 23, 2021 – IRRAS, a commercial-stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, today announced that it has entered into a non-exclusive distribution agreement with Lovell Government Services, a Service-Disabled Veteran-Owned Small Business (“SDVOSB”), to serve as the company’s vendor for product orders and contract awards from United States government facilities. This partnership will help IRRAS accelerate the launch of its IRRAflow and Hummingbird ICP product lines by utilizing Lovell’s position as a contracted vendor at Veterans Affairs (VA) hospitals and other United States government and military medical facilities.
“The IRRAS commercial team is excited to partner with the Lovell Government Services team as their deep experience and established contracts with VA and military medical facilities will provide guidance and strategic advantages as we expand within this important group of customers,” said Will Martin, President and CEO of IRRAS. “Our IRRAS team is dedicated to offering innovative, life-saving technology for all patients, but it is especially meaningful that this partnership will allow us to positively impact the lives of more patients that have volunteered to serve their country.”
Lovell, a Service-Disabled Veteran-Owned Small Business, is ranked as 2021’s fastest-growing privately held company in Government Services by Inc. 5000. They partner with medical and pharmaceutical companies looking to serve veteran and military patient populations and to compete for government contracts. With this partnership, Federal, State, and Local Government Agencies will be able to place orders for the IRRAflow or Hummingbird ICP product lines through appropriate contract vehicles, such as the Defense Logistics Agency’s ECAT system, the Federal Supply Schedule (FSS), the Distribution and Pricing Agreement (DAPA), and GSA Advantage for direct purchase. Partnering with an SDVOSB also benefits government agencies by helping them meet their SDVOSB procurement goals and requirements.
“IRRAS has developed innovative devices dedicated to treating intracranial bleeding and traumatic brain injury, which unfortunately affect the communities that we serve in a disproportionate manner. The IRRAflow and Hummingbird devices will save and improve the lives of thousands of Veterans, active-duty service members, and their dependents. We’re honored that IRRAS is partnering with us,” says Chris Lovell, Major, USMC (Ret.), and CEO of Lovell Government Services.
About Lovell Government Services
Lovell Government Services was established by Chris Lovell, Major USMC Retired, in 2013. Lovell’s mission is to serve the Veterans Administration Hospital System, the U.S. Military Medical Networks, other Federal Healthcare Systems, and the communities they support. Lovell partners with Medical and Pharmaceutical Suppliers to fast track and distribute the latest in life-saving technologies to the Federal Government. Learn more at www.lovellgov.com
About IRRAS
IRRAS is a global medical care company focused on delivering innovative medical solutions to improve the lives of critically ill patients. IRRAS designs, develops, and commercializes neurocritical care products that transform patient outcomes and decrease the overall cost of care by addressing complications associated with current treatment methodologies. IRRAS markets and sells its comprehensive, innovative IRRAflow and Hummingbird ICP Monitoring product lines to hospitals worldwide through its direct sales organization in the United States and select European countries as well as an international network of distribution partners.
IRRAS maintains its headquarters in Stockholm, Sweden, with corporate offices in Munich, Germany, and San Diego, California, USA. For more information, please visit www.irras.com.
IRRAS is listed on Nasdaq Stockholm (ticker: IRRAS).
For more information, please contact:
Sten Gustafsson
Director, Investor Relations
sten.gustafsson@irras.com
+46 102 11 5172
The information was released for public disclosure, through the agency of the contact person above, on December 23, 2021, at 8:30 (CET).
