Nuwellis Reports Preliminary Fourth Quarter and Full Year 2022 Revenue Results
January 09 2023 - 7:00AM
Nuwellis, Inc. (Nasdaq: NUWE) (“Nuwellis” or the “Company”), a
medical technology company focused on transforming the lives of
people with fluid overload, today announced preliminary unaudited
results for fourth quarter and full year 2022.
Preliminary unaudited revenue for the fourth
quarter and full year 2022 is anticipated to be approximately $2.3
million and $8.5 million, respectively, representing an increase of
42% and 8% over the same periods last year. The fourth quarter
growth rate reflects benefits from the Company’s commercial team
expansion and focused sales strategy, as well as continued market
traction in line with the Company’s penetration of market segments
beyond heart failure patients. The fourth quarter revenue by
segment was led by Pediatrics, followed by Heart Failure and
Critical Care, which increased approximately 92%, 47%, and 24% over
the same period last year, respectively.
“Preliminary 2022 revenue growth of
approximately 42% for the fourth quarter and 8% for the full year
demonstrates continued meaningful progress on the execution of our
key strategic initiatives, as the expansion of our field sales team
and clinical education specialists, bolstered by our market
penetration initiatives and growing body of clinical evidence,
drove strong sales momentum in the fourth quarter. We are committed
to making the Aquadex SmartFlow® system the standard of care for
patients with fluid overload who are not responsive to diuretics,
driving strong growth in 2023 and beyond,” said Nestor Jaramillo,
President and CEO of Nuwellis.
About Nuwellis Nuwellis,
Inc. (Nasdaq: NUWE) is a medical device company dedicated to
transforming the lives of patients suffering from fluid overload
through science, collaboration, and innovation. The Company is
focused on commercializing the Aquadex SmartFlow® system for
ultrafiltration therapy. Nuwellis is headquartered in Minneapolis,
with a wholly owned subsidiary in Ireland.
About the Aquadex SmartFlow®
System The Aquadex SmartFlow system delivers
clinically superior therapy using a simple, flexible and smart
method of removing excess fluid from patients suffering from
hypervolemia (fluid overload). The Aquadex SmartFlow system is
indicated for temporary (up to 8 hours) or extended (longer than 8
hours in patients who require hospitalization) use in adult and
pediatric patients weighing 20 kg or more whose fluid overload is
unresponsive to medical management, including diuretics. All
treatments must be administered by a health care provider, within
an outpatient or inpatient clinical setting, under physician
prescription, both having received training in extracorporeal
therapies.
Forward-Looking
Statements Certain statements in
this release may be considered forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including without limitation, statements regarding the new
market opportunities and anticipated growth in 2023 and beyond.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this
release, including, without limitation, those risks associated with
our ability to execute on our commercialization strategy, the
impact of the COVID-19 pandemic, the possibility that we may be
unable to raise sufficient funds necessary for our anticipated
operations, our post-market clinical data collection activities,
benefits of our products to patients, our expectations with respect
to product development and commercialization efforts, our ability
to increase market and physician acceptance of our products,
potentially competitive product offerings, intellectual property
protection, our ability to integrate acquired businesses, our
expectations regarding anticipated synergies with and benefits from
acquired businesses, and other risks and uncertainties described in
our filings with the SEC. Forward-looking statements speak only as
of the date when made. Nuwellis does not assume any obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or
otherwise.
CONTACTS
INVESTORS: Vivian CervantesGilmartin Group
LLC ir@nuwellis.com
MEDIA: Annika Parish Health+Commerce
annika@healthandcommerce.com
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