BrainCool AB (publ) BrainCool signs a purchase agreement for IQool™ System with a large healthcare system in the US
- BrainCool has signed a purchase agreement with a healthcare system covering 74 hospitals in the southeastern United States.
- The purchase agreement relates to IQool™ System and was signed after the system demonstrated a number of clinical and economic advantages over competing systems.
- The intention is to establish at least 20 products during the term of the agreement (1 year).
BrainCool AB (the "Company") has signed a one-year purchase agreement with Vanderbilt Health, based in Nashville, Tennessee after the product IQool™ System has been evaluated against competing systems. The parties intend to establish the product for the healthcare system's hospitals in the southeastern United States.
The company already has an agreement with the national purchasing organization GPO Healthtrust (see press release 2020-06-17, https://www.braincool.se/17/28/post/?slug=braincool-ab-publ-ingar-inkopsavtal-med-healthtrust-50650ee4). In 2022, a group buy project with Healthtrust was also carried out as part of establishing IQool™ System within HCA Healthcare, one of the largest healthcare systems in the United States.
CEO Martin Waleij's comments
– Under the agreement, Vanderbilt Health plans to offer our product to all hospitals in the group in the coming year, subject to similar terms that we have established with GPO Healthtrust in 2023. This is after an evaluation that showed a number of clinical and economic benefits of IQool's product offering. The goal is to establish at least 20 systems during the term of the agreement.
In 2023, BrainCool has strengthened its sales organization in Texas, Chicago and Tennessee and has a clear goal to grow in these regions and establish the product to a greater extent in additional US healthcare systems. Our establishment in Tennessee now embodies the efforts in the southeastern United States, but should also be seen in the light of the fact that major players such as Healthtrust, HCA Healthcare and Vanderbilt have their headquarters in Nashville.
Continued growth in the US market
In addition to the new agreement with Vanderbilt Health, BrainCool has continued to grow in other healthcare systems in 2023, including two additional hospitals within Jefferson Health purchasing two systems each. (for more information about Jefferson Health, see press release 2021-10-19 https://www.braincool.se/17/28/post/?slug=braincool-ab-publ-ny-viktig-order-i-usa-for-iqool-system-86fa71ef).
