Sunshine Heart Provides Business Update Regarding Execution of Strategic Growth Plan
March 23 2017 - 6:00AM
Sunshine Heart, Inc. (NASDAQ:SSH) announced today its progress
in successfully executing its Aquadex growth strategy. After
acquiring the Aquadex business from Baxter International in August
of 2016, the company began executing a revenue growth strategy
focused on increasing utilization in the top 55 hospital accounts,
which made up 80% of the business. By the end of 2016, there were
95 hospital accounts that have re-engaged and are purchasing the
disposable blood sets on a regular basis. As of March 2017, there
are now 115 active hospital accounts.
“Our momentum is increasing as we reach more hospital accounts
that have been quiet over the past few years,” said John Erb,
Chairman of the Board and CEO of Sunshine Heart.
Looking ahead, the company is focused on four key areas of
growth:
- Provide better diagnostic tools that will enable
healthcare professionals improve patient selection,
- Generate meaningful economic evidence to support reimbursement
and drive utilization,
- Expand utilization of Aquadex in other areas of the hospital,
and
- Expand the use of Aquadex in an outpatient setting.
About Sunshine HeartSunshine Heart,
Inc. (Nasdaq:SSH) is an early-stage medical device company
focused on commercializing the Aquadex FlexFlow® System. The
Company's commercial product, the Aquadex system, is indicated for
temporary (up to eight hours) ultrafiltration treatment of patients
with fluid overload who have failed diuretic therapy, and extended
(longer than 8 hours) ultrafiltration treatment of patients with
fluid overload who have failed diuretic therapy and require
hospitalization. Our objective is to improve the quality of life
for patients with heart failure and related
conditions. Sunshine Heart is
a Delaware corporation headquartered
in Minneapolis with wholly owned subsidiaries
in Australia and Ireland. The Company has been
listed on the NASDAQ Capital Market since February 2012.
Forward-Looking StatementsCertain statements in
this release are forward-looking statements that are based on
management's beliefs, assumptions, expectations, and information
currently available to management. All statements that address
future operating performance, events or developments that we expect
or anticipate will occur in the future are forward-looking
statements, including without limitation, our ability to execute on
our recently announced strategic realignment, 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.
The risk factors described in our filings with the SEC could cause
actual events to adversely differ from the expectations indicated
in these forward-looking statements. Management believes that these
forward-looking statements are reasonable as and when made.
However, you should not place undue reliance on forward-looking
statements because they speak only as of the date when made.
Sunshine Heart 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. Sunshine Heart may
not actually achieve the plans, projections or expectations
disclosed in forward-looking statements, and actual results,
developments or events could differ materially from those disclosed
in the forward-looking statements. Forward-looking statements are
subject to a number of risks and uncertainties, including without
limitation, the possibility that regulatory authorities do not
accept our application or approve the marketing of our therapy, the
possibility we may be unable to raise the funds necessary for the
development and commercialization of our therapy and other risks
and uncertainties described in our filings with the SEC. We do not
assume any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
For further information, please contact:
Claudia Napal Drayton
Chief Financial Officer
Sunshine Heart, Inc.
T: +1-952-345-4205
Investor Relations
Sunshine Heart Inc.
ir@sunshineheart.com
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