Press Release

IR-Med To Initiate Useability Study of its PressureSafe Device

Rosh Pinna, Israel, June 23, 2022 (GLOBE NEWSWIRE) — (“IR-MED or the “Company”) (OTCQB:IRME), an innovative development stage medical device company that utilizes Infra-Red light spectroscopy (IR) combined with Artificial Intelligence (AI) technologies to develop non-invasive detection devices, announced that its wholly-owned subsidiary IR-Med Ltd. has signed a study agreement with Beit Rivka, a Large Geriatric Hospital in Israel associated with Clalit, the largest Health Insurance Fund in Israel. The agreement is to conduct a usability study of our proprietary and patent protected “Pressuresafe” devise, which we plan to launch as a decision support system (DSS) tool for care givers in Hospitals, Nursing homes and Home-Care companies.

PressureSafe employs AI technologies to the early detection, of pressure injuries (PI) to the skin and underlying tissue. The device offers to caregivers the ability to quickly identify conditions which are latent or invisible to the naked eye (going under the skin).

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 Beit Rivka to conduct a usability study of our Pressuresafe devise, which has the potential to provide accurate and real time information as the patient status and may prevent development of Pressure Injuries. The ability of the Pressuresafe to detect PI’s regardless of different skin colors and inform the care-giver that PI may start to develop below the skin before any visible sign can be seen holds the promise of offering better patient compliance and quality of life.”

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. 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 subcutaneous 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, 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
Mosh Gerber, Chief Executive Officer
Tel: (+972) 04-6555054

June 23, 2022

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