Inspira Technologies Signs Strategic Agreement in U.S. to potentially provide $59 million for Inspira for deployment of 3,889 HYLA Blood Sensors The agreement signed with Glo-Med Networks for the potential deployment of

Inspira Technologies

Signs Strategic Agreement in U.S.

to potentially provide $59 million for Inspira

for deployment of 3,889 HYLA Blood Sensors

The agreement signed

with Glo-Med Networks for the potential deployment

of HYLA Blood Sensors over a 3-year period, subject to regulatory approvals

Ra'anana, Israel, July 7, 2022 - Inspira Technologies

OXY B.H.N. Ltd. (Nasdaq: IINN, IINNW) (the "Company" or "Inspira Technologies"), a groundbreaking respiratory

support technology company, following yesterday's announcement of the development of its new HYLA blood sensor, announced

today that it has signed an exclusive summary distribution agreement with the U.S. based Glo-Med Networks ("Glo-Med"), for

the distribution of the HYLA blood sensor device and disposable units across 6 states in the United States (Texas, New Jersey,

New York, Florida, North Carlina and South Carolina).

The summary distribution agreement will be followed by a more comprehensive

agreement. The agreement has an initial term of 3 years, subject to completion of product development and regulatory approvals. The parties

will collaborate on the marketing and deployment of the HYLATM blood sensor. Without the need to take actual blood samples

from patients, Inspira Technologies' non-invasive optical blood sensor is being designed to perform real-time and continuous blood

monitoring to alert physicians of immediate signs of changes in a patient's clinical condition.

Pursuant to the agreement, and in order to maintain exclusivity in

the territory, Glo-Med has committed to purchase a minimum order of 3,889 HYLATM blood sensors and 264,873 disposable units

for deployment at hospitals and medical centers, subject to regulatory approvals for the sale and marketing of the HYLATM blood

sensor device in the 6 states within the United States.

This is the second distribution agreement reached with Glo-Med for

the U.S. market, in addition to the agreement signed in January 2022, for the distribution of the Company's ART system.

The Company has additional distribution agreements internationally,

targeting a total of $189 million in Israel and Europe (Spain, Portugal, Poland, Czech and Slovakia). All agreements for the ART

system are over a 7-year period and are subject to the completion of product development and regulatory approvals.

The HYLA blood sensor and ART system have not been tested

or used in humans and are subject to completion of development and regulatory approvals.

Matus Knoblich, Glo-Med's CEO, stated:

"I believe that this ground-breaking technology may dramatically

reduce the need for actual blood sampling by the hospital staff. This could significantly reduce their workload while providing potentially

critical information at a critical moment when a patient's medical condition may suddenly deteriorate without warning. I strongly

believe that this technology has the potential to eventually become a device for almost every patient in intensive care units and other

suitable clinical settings. The HYLATM is a very good fit for Glo-Med's growing product portfolio that focuses on improving

patient's wellbeing and clinical outcome."

Dagi Ben-Noon, Inspira Technologies'

Chief Executive Officer, stated:

"Our strong collaboration with U.S. based

Glo-Med is built on trust and the understanding of each other's strengths. We have the joint motivation of assisting physicians

to improve respiratory care, patient monitoring and outcomes, while maximizing patients' experience. The Inspira Technologies team

is energized and focused to truly and positively disrupt the respiratory care market."

Inspira Technologies OXY B.H.N. Ltd.

Inspira Technologies is an innovative medical technology company in

the respiratory treatment arena. The Company has developed a breakthrough Augmented Respiration Technology (ART), designed to rebalance

patient oxygen saturation levels. The Company's ART technology potentially allows patients to remain awake during treatment

while minimizing the need for highly invasive, risky, and costly mechanical ventilation systems that require intubation and medically

induced coma. The Company's products have not yet been tested or used in humans and has not been approved by any regulatory entity.

For more information, please visit our corporate

website: https://inspirao2.com

About Glo-Med Networks

Glo-Med Networks Incorporated was founded in 2016 to meet the continuously

growing demand for innovative medical devices and related products in domestic and international markets. Glo-Med maintains extensive

access to next generation medical products globally via long-term partnerships and relationships with medical providers, as well as through

their sister company focused on medical device servicing with a focus on hospital beds and medical mattresses, Med-Stat Consulting Services,

Inc. (est. 2003). Along with the largest and most prominent healthcare organizations in New York and Florida as clients, Glo-Med has offices

and partner companies in Europe, the Middle East and Africa, providing extensive access to the global medical network. Service support

provided by Med-Stat grants customers full access to highly skilled technicians who can provide continuous service and support for their

medical devices. As the name states, Glo-Med is your access to the global medical network.

For more information, please visit the corporate website: www.glomednet.com

Forward-Looking Statement Disclaimer

This press release contains express

or implied forward-looking statements pursuant to U.S. Federal securities laws. These forward-looking statements and their implications

are based on the current expectations of the management of the Company only and are subject to a number of factors and uncertainties that

could cause actual results to differ materially from those described in the forward-looking statements. For example, the Company is using

forward-looking statements when it discusses the terms of its strategic agreement with Glo-Med, potential revenue to the company, the

amount of HYLA blood sensors and disposable units that may be sold and the states in which the sensor may be distributed, the potential

benefits to be derived from the use of the HYLA blood sensor, once developed, and its potential to eventually become a device for

almost every patient in intensive care units and other suitable clinical settings, subject to its development and regulatory approvals,

its distribution agreements to potentially target sales in the United States, Europe and Israel, all subject to product development and

regulatory approvals. These forward-looking statements and their implications are based solely on the current expectations of the Company's

management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described

in the forward-looking statements. Except as otherwise required by law, the Company undertakes no obligation to publicly release any revisions

to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated

events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors"

in the Company's annual report on Form 20-F for the fiscal year ended December 31, 2021 filed with the U.S. Securities and Exchange

Commission (the "SEC"), which is available on the SEC's website, www.sec.gov

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