CHICAGO – April 3, 2020 – Vyaire Medical, Inc. and CEO Gaurav Agarwal today issued the following update on the company’s response to the coronavirus (COVID-19) pandemic:
“Vyaire Medical is committed to partnering with public health, government and medical frontline responders to combat the threat of the coronavirus pandemic. Our global team is working tirelessly to deliver and accelerate access to essential medical equipment for patients in respiratory distress due to COVID-19 and to the healthcare workers treating them,” said CEO Gaurav Agarwal.
Beginning in January, Vyaire -- the largest company in the global healthcare ecosystem fully dedicated to respiratory care -- began the process of retooling its manufacturing capacity to meet the emerging global need and the expected surge in demand for ventilation equipment as the medical community responded to the evolving nature of the COVID-19 pandemic.
“In January, we initiated a proactive strategy to expand our manufacturing capabilities and begin to scale our workforce to dramatically increase the volume of new ventilators and accompanying equipment, such as circuits, filters and water traps,” Agarwal said. “Our goal was to increase our output exponentially, and as quickly as possible, to help frontline responders and health systems manage and treat critical conditions due to COVID-19.”
Vyaire has been in close consultation with public and government healthcare responders to align, prioritize, scale and mobilize quickly as the crisis evolves around the world. Among other strategies, the company is redeploying engineering resources and seeking to hire additional workforce to accelerate production of ventilators at key manufacturing facilities. In addition, the company is exploring potential partnerships with non-medical equipment manufacturers and distribution companies to increase the availability of life-saving equipment and speed access to areas of the country in most critical need.
Vyaire’s broad range of products provide solutions across specialties that span the continuum of care, including Critical Care, Emergency Medicine, Infection Control and Prevention, Pulmonology and Respiratory Therapy.
Proactive planning and risk mitigation activities are ongoing to reduce risk and ensure consistent access to Vyaire’s products. The company has implemented immediate actions, including:
- Robust preventive measures to ensure our manufacturing facilities remain fully operational and our employees stay safe. To prevent community spread in manufacturing facilities, Vyaire increased hygiene protocols, ensured employees have the latest guidance from the CDC, WHO and other public health agencies, limited visitors to its manufacturing sites and allowed those who can work remotely to do so. The company also established an internal team that is actively monitoring and determining the appropriate measures to help guide ongoing policies and actions as the public health crisis evolves.
- Close coordination with global suppliers to ensure access to necessary supplies is safe and secure. Vyaire is advocating that the global supply chain remain open and uninterrupted, particularly as other non-medical manufacturers are called upon to begin making respiratory equipment, so there is adequate access to necessary components to match increased production of ventilators.
- Flexibility in fulfillment processes to prioritize bedside delivery. In close consultation with customers, the public health community and federal and state governments, Vyaire is prioritizing and aligning the delivery of its respiratory solutions to those in most critical need, including hospitals in hotspot areas.
“Vyaire has a long history of clinical excellence, leadership and expertise in treating and monitoring respiratory conditions in every stage of life. Today, in response to the coronavirus pandemic, our passionate, dedicated global workforce is fulfilling our commitment to quality and accountability as we focus on supporting life by delivering critical equipment to those who need it most,” said Agarwal.
Vyaire has raised incremental financing, led by Bank of America and Royal Bank of Canada, with the support of existing investors including GSO, Symphony Asset Management, Blackrock and MVCredit. The new investment round will enable Vyaire to further capitalize on its position as largest company in the global healthcare ecosystem fully dedicated to respiratory care, and its efforts to rapidly respond to the unprecedented demand for ventilators and accompanying equipment.
For more information, please visit our website, which will be updated as our pandemic response evolves: Vyaire COVID-19 Response Center.
Learn more at www.vyaire.com.
VP Corporate Communications
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