4 medtech companies ink $84m government ventilator contract

The U.S. Defense Logistics Agency (DLA) signed an $84.4 million contract over the weekend with four medtech companies to produce 8,000 ventilators to fight the COVID-19 pandemic.
The contract is with Combat Medical Systems, Hamilton Medical, Vyaire Medical and Zoll Medical, according to the agency. Shipments may begin in a few days with time-phased delivery over the next several months,  the DLA added.
“We expect orders to begin shipment within the next few days, with 1400 being delivered by early May,” said Department of Defense spokesman Lt. Col. Mike Andrews in a news release. “Delivery locations will be determined by FEMA.”
The department said it has processed several hundred contracts and orders related to COVID activities, including everything ranging from transportation, communication to medical supplies. The Defense Contract Management Agency is implementing a mass modification to approximately 1,500 contracts to raise the limits on progress payments from to 90% for large businesses, and to 95% for small businesses.
This will provide immediate cash flow to industry, especially small businesses in the supply chain, once incorporated into the contract, Andrews said.
Original Article: (https://www.massdevice.com/4-medtech-companies-ink-84m-government-ventilator-contract/)