Rockwell Medical and Concerto Renal Services Establish New Three-Year, Multi-Million Dollar Product Purchase Agreement
February 13 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 product purchase agreement with Concerto Renal Services
("Concerto"), the largest provider of dialysis in skilled nursing
facilities in the United States. Under the terms of the agreement,
Rockwell Medical will be the primary supplier of liquid and dry
acid and bicarbonate concentrates to Concerto through a three-year
commitment that includes supply and purchasing minimums. Concerto
operates in eleven states — Illinois, Maryland, Kansas, Missouri,
Indiana, Michigan, Ohio, Wisconsin, Georgia, Pennsylvania, and
Delaware — and is launching operations in several additional
states.
Founded by nursing home operators who grew frustrated with both
the quality of in-house dialysis care and the risks of transporting
patients offsite for renal care, Concerto Renal Services began in
2015 with a vision of 'Giving Life to People on Dialysis'. Based in
Chicago, Concerto provides in-house services to more nursing home
residents than any other provider in America. Concerto believes
that dialysis care for nursing home residents should accommodate
their lifestyle and conform to their schedule. The result is
improved and extended lives, while dramatically reducing the
overall costs of these patients to the healthcare system.
"We are thrilled to partner with Concerto and add another new
customer to our growing hemodialysis concentrates business," said
Mark Strobeck, Ph.D., President and CEO at Rockwell Medical. "This
is the second agreement that we have established over the past
several weeks that will generate millions of dollars in revenue,
annually, for Rockwell Medical. The hemodialysis concentrates
market is rapidly growing and our partnership with Concerto offers
us the platform to advance innovative, proactive solutions that
serve patients suffering from end-stage kidney disease. We are on
track to achieving profitability in 2024 and are resolute in our
vision to become the global leader in the hemodialysis 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,” “are on track,” “are resolute in our
vision,” 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/20230213005205/en/
Heather R. Hunter SVP, Chief Corporate Affairs Officer (248)
432-1362 IR@RockwellMed.com
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