Rockwell Medical Signs Three-Year, Multi-Million Dollar Supply Agreement with Largest Non-Profit Dialysis Provider in the United States
February 02 2023 - 6:00AM
Business Wire
Rockwell Medical, Inc. (the "Company") (Nasdaq: RMTI), a
commercial healthcare company focused on providing life-sustaining
products for patients suffering from blood disorders and diseases
associated with the kidney, announced that the Company signed a
three-year, multi-million dollar per annum product purchase
agreement with the largest non-profit dialysis provider in the
United States. As part of the agreement, Rockwell Medical will be
the preferred supplier of liquid and dry acid and bicarbonate
concentrates to this non-profit dialysis provider's hemodialysis
facilities located throughout the United States.
"We are excited to enter this long-term agreement which includes
both supply and purchasing commitments as it will strengthen our
revenue base over the next three years," said Mark Strobeck, Ph.D.,
President and CEO at Rockwell Medical. "This arrangement is the
first of many that we anticipate establishing this year in order to
grow our hemodialysis concentrates business and drive Rockwell
towards profitability in 2024. Hemodialysis concentrates is
Rockwell's core focus and competency. Given the disruptions that
other suppliers have experienced recently, we are determined now
more than ever to become the global leader in this market."
In the United States, the in-center hemodialysis concentrates
market is currently valued at $380 million and is anticipated to
grow to approximately $500 million by 2026, driven primarily by an
increasing number of patients suffering from end-stage kidney
disease. Rockwell is the second largest supplier of life-sustaining
hemodialysis concentrates products to dialysis clinics in the
United States. An indispensable player in this large and expanding
market, Rockwell Medical is one of only two suppliers that has the
manufacturing scalability and transportation infrastructure to
service the over 7,500 dialysis clinics in the United States along
with select international markets.
About Rockwell Medical
Rockwell Medical, Inc. (Nasdaq: RMTI) is a commercial healthcare
company focused on providing life-sustaining products for patients
suffering from blood disorders and diseases associated with the
kidney. Rockwell is an innovative leader in producing and
delivering a portfolio of hemodialysis products, including
concentrates (solutions and powders) and related ancillaries, to
dialysis providers in the United States and internationally.
Rockwell is the second largest supplier of acid and bicarbonate
concentrates for dialysis patients in the United States. The
Company is dedicated to providing the hemodialysis community with
the highest quality products supported by the most reliable
delivery service in the industry. For more information, visit
www.RockwellMed.com.
Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of the federal
securities laws. Words such as, "may," "might," "will," "should,"
"believe," "expect," "anticipate," "estimate," "continue," "could,"
"can," "would," "develop," "plan," "potential," "predict,"
"forecast," "project," "intend," "look forward to," "remain
confident," “are determined” or the negative of these terms, and
similar expressions, or statements regarding intent, belief, or
current expectations, are forward looking statements. There can be
no assurance that Rockwell’s hemodialysis business will grow,
Rockwell will reach profitability in 2024, Rockwell will become the
global leader in hemodialysis concentrates, the in-center
hemodialysis concentrates market will increase in size or that
Rockwell Medical will be able to access the expected market
opportunity. While Rockwell Medical believes these forward-looking
statements are reasonable, undue reliance should not be placed on
any such forward-looking statements, which are based on information
available to us on the date of this release. These forward-looking
statements are based upon current estimates and assumptions and are
subject to various risks and uncertainties (including, without
limitation, those set forth in Rockwell Medical's SEC filings),
many of which are beyond our control and subject to change. Actual
results could be materially different. Risks and uncertainties
include, but are not limited to those risks more fully discussed in
the "Risk Factors" section of our Annual Report on Form 10-K for
the year ended December 31, 2021, as such description may be
amended or updated in any future reports we file with the SEC.
Rockwell Medical expressly disclaims any obligation to update our
forward-looking statements, except as may be required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230202005399/en/
Heather R. Hunter SVP, Chief Corporate Affairs Officer (248)
432-1362 IR@RockwellMed.com
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