CHF Solutions Further Expands Commercial Presence in the Middle East with Distribution Arrangement for Israel and Palestine
July 30 2020 - 8:00AM
CHF Solutions (Nasdaq: CHFS) today announced the signing of a
distribution agreement with SysteMedic Ltd., covering Israel and
Palestine, representing the second distribution partnership in the
Middle East region. Ultrafiltration therapy is now available
in 16 countries outside the U.S.
Ninety percent of hospitalizations among heart failure patients
are due to signs and symptoms of fluid overload,1 and approximately
two percent of the Israeli population suffers from heart failure.2
The Aquadex SmartFlow System is a simple, flexible and smart
fluid management platform using ultrafiltration to stabilize
patients experiencing fluid overload, giving providers the ability
to manage their patients’ fluid balance with precision, control and
ease.
“CHF Solutions is committed to making ultrafiltration therapy
available for patients throughout the world. Our partnership
with SysteMedic demonstrates continued execution on that strategy,”
said John Erb, chairman and CEO of CHF Solutions. “Subject to
regulatory approval, we look forward to working with SysteMedic to
make the simple, flexible and smart Aquadex SmartFlow™ system
available to patients in Israel and Palestine suffering from fluid
overload due to heart failure, cardiovascular surgery and other
critical care conditions.”
“We are very excited to work with CHF Solutions to introduce
their ultrafiltration technology to Israel and Palestine,” said
Arik Yanco, General Manager of SysteMedic. “We believe the Aquadex
therapy will make a difference in the quality of lives of patients
and look forward to a successful partnership.”
1 Costanzo MR et al. JACC. 2017;69(19):2428-45.2
www.health.gov.il/PublicationsFiles/health2013.pdf.
About CHF Solutions
CHF Solutions, Inc. (CHFS) is a medical device company dedicated
to changing the lives of patients suffering from fluid overload
through science, collaboration, and innovation. The company is
focused on developing, manufacturing and commercializing the
Aquadex SmartFlow™ system for ultrafiltration therapy. CHF
Solutions is headquartered in Minneapolis, Minn., with wholly-owned
subsidiaries in Australia and Ireland. The company has been listed
on the Nasdaq Capital Market since February 2012.
About the Aquadex SmartFlow System
The Aquadex SmartFlow system delivers clinically proven 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.
About SysteMedic
SysteMedic Ltd. was established in Israel in 2001, by a group of
professionals, each with over 30 years of experience in a variety
of clinical fields, including ICU, ER, OR, Trauma, Cardiology and
Oncology, as well as related medical equipment and services.
SysteMedic Ltd imports and markets innovative medical products and
technologies to hospitals, private clinics, health services, home
care, military and government customers in Israel and
Palestine.
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 about the growth and potential success of
distribution partnerships outside of the U.S., including Israel and
Palestine. 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 expectations regarding the potential
impacts of the COVID-19 pandemic on our business operations, our
ability to execute on our commercial strategy, 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. 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
MEDIA:
Jessica Stebing
Health+Commerce
260-336-6202
jstebing@healthandcommerce.com
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