CHF Solutions Enters the South American Market with a Distribution Agreement with Bragenix LTDA in Brazil
February 19 2019 - 8:30AM
CHF Solutions (Nasdaq: CHFS), today announced the initiation of a
distribution agreement in the Brazilian market with Bragenix,
LTDA. This agreement expands the company’s worldwide sales
outreach into South America by entering the largest market in the
region.
“We have aggressively pursued our goal to expand worldwide
access to aquapheresis therapy using the Aquadex FlexFlow®
system. We are entering the South American market through its
largest country, Brazil. We look forward to bringing a much-needed
solution to thousands of patients who are chronically challenged by
fluid overload, when diuretics have failed,” said John Erb,
chairman and CEO of CHF Solutions. “Fluid overload resulting
from heart failure or cardiovascular surgery is a global issue and
we will continue growing our global presence to meet that
need.”
It is estimated that approximately 3.9 million individuals in
Brazil (around 2 percent of the population) suffer from heart
failure.1 The company further estimates that there are
approximately 470,000 hospitalizations each year for heart failure,
of which approximately 290,000 patients experience fluid overload
with less than optimal diuretic response. Bragenix LTDA is
focused on identifying innovative technologies in the medical,
hospital, commercial and industrial areas and providing sustainable
products of proven international quality to the Brazilian market.
About CHF Solutions
CHF Solutions, Inc. (Nasdaq:CHFS) is a medical device
company focused on commercializing the Aquadex FlexFlow system for
aquapheresis therapy. The Aquadex FlexFlow 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. All treatments must be
administered by a healthcare provider, under physician
prescription, both of whom having received training in
extracorporeal therapies. The company's mission is to
predict, measure, and control patient fluid balance through
science, collaboration, and innovative medical technology.
CHF Solutions is a Delaware corporation headquartered
in Minneapolis, Minnesota with wholly owned subsidiaries
in Australia and Ireland. The company has been
listed on the Nasdaq Capital Market since February 2012.
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, the company’s plans to grow its global presence.
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 risk associated
with our ability to execute on our commercial strategy, the
possibility that we may be unable to raise sufficient funds
necessary for our anticipated operations, 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. CHF Solutions 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: Claudia Napal Drayton Chief
Financial Officer CHF Solutions, Inc. 952-345-4205
ir@chf-solutions.com
-or-
Bret Shapiro Managing Partner CORE IR 516-222-2560
brets@coreir.com www.coreir.com
MEDIA Jules Abraham JQA Partners, Inc.
917-885-7378 jabraham@jqapartners.com
1 Stevens B., et. al. The Economic Burden of Heart
Conditions in Brazil. Health Economics and Social Policy,
Deloitte Access Economics, Australia. 2016.
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