GM dispatches first batch of ventilators for COVID-19 patients

Stock Markets11 hours ago (Apr 17, 2020 01:18PM ET)

(Reuters) – General Motors (NYSE:GM) said on Friday it had started delivering the first batch of 54 ventilators to U.S. hospitals treating severely ill COVID-19 patients.

GM said the Franciscan Health Olympia Fields hospital in Olympia Fields, Illinois, and Chicago’s Weiss Memorial Hospitals will receive shipments of 10 ventilators each via package delivery company UPS Inc (NYSE:UPS) on Friday.

A third shipment comprising 34 ventilators will be delivered by UPS to the U.S. Federal Emergency Management Agency at the Gary/Chicago International Airport on Saturday to be distributed at other locations.

The deliveries are part of a contract awarded to GM by the U.S. Department of Health and Human Services for 30,000 ventilators by the end of August. The contract is worth $489.4 million.

GM is working with ventilator firm Ventec Life Systems to produce the equipment.

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