RIVER EDGE, N.J, March 11, 2014 /PRNewswire/ -- Nephros, Inc.
(OTCQB:NEPH), a commercial stage medical device company that
develops and sells high performance liquid purification
ultrafilters and Mar Cor Purification, a wholly owned subsidiary of
Cantel Medical Corp., announced today that the companies have
signed a non-exclusive distributor agreement to distribute
Nephros's dialysis ultrafilters to U.S. and Canadian dialysis
clinics.
Curtis Weitnauer, President and
Chief Executive Officer of Mar Cor Purification, commented, "We are
very excited about incorporating the Nephros ultrafiltration family
of products for hemodialysis water and bicarbonate concentrate into
our product portfolio for dialysis customers. Their unique
hollow fiber filter offers unparalleled filtration, flow
performance, patient health and economic benefits to complement our
array of portable and central delivery water purification systems
in dialysis."
John Houghton, President and
Chief Executive Officer of Nephros, added, "We are extremely
pleased to be working with Mar Cor Purification. Combining
their proven distribution capabilities and installation base with
their field specialists and service provider locations will provide
Nephros products the necessary visibility and customer contact
required for growth in dialysis and potentially other
markets."
This press release does not constitute an offer to sell or a
solicitation of an offer to buy securities of the company, nor
shall there be any sale of such securities, in any jurisdiction in
which such an offer, solicitation, or sale would be unlawful prior
to registration or qualification under the securities laws of any
jurisdiction.
About Mar Cor Purification
Mar Cor Purification, a
wholly owned subsidiary of Cantel Medical Corp. (NYSE:CMN), is the
largest supplier of dialysis medical water systems in North America. It has service offices in 27
cities in the United States and
Canada, with seven ion exchange
resin regeneration plants strategically located in Atlanta, Boston, Chicago, Philadelphia, San
Antonio, Montreal and
Toronto. Mar Cor also provides
turnkey water purification systems to high purity clients including
pharmaceutical, cosmetics, semiconductor and other bacteria
controlled applications. Filtration/separation products and
disinfectants are provided to the same customer base in addition to
a separate worldwide distributor network. For more
information about Mar Cor, please visit the company's website at
www.mcpur.com.
About Nephros, Inc.
Nephros is a commercial stage
medical device company that develops and sells high performance
liquid purification filters. Our filters, which we call
ultrafilters, are primarily used in dialysis centers for the
removal of biological contaminants from water, bicarbonate
concentrate and/or blood.
We were founded in 1997 by healthcare professionals affiliated
with Columbia University Medical
Center/New York-Presbyterian Hospital to develop and commercialize
an alternative method to hemodialysis (HD). We have extended our
filtration technologies to meet the demand for liquid purification
in other areas, in particular water purification.
Presently, we offer ultrafilters for sale to customers in four
markets:
- Dialysis Centers - Water/Bicarbonate: Filtration of
water or bicarbonate concentrate used in hemodialysis devices
- Dialysis Centers - Blood: Clearance of toxins from blood
using an alternative method to HD in patients with chronic renal
failure
- Hospitals and Other Commercial Facilities: Filtration of
water for drinking and washing
- Military and Outdoor Recreation: Highly compact,
individual water purification devices used by soldiers to produce
drinking water in the field
For more information about Nephros, please visit the company's
website at www.nephros.com.
Forward-Looking Statements
Certain statements in this press release constitute
"forward-looking statements". Such statements include statements
regarding the efficacy and intended use of our technologies under
development, the timelines for bringing such products to market and
the availability of funding sources for continued development of
such products and other statements that are not historical facts,
including statements which may be preceded by the words "intends,"
"may," "will," "plans," "expects," "anticipates," "projects,"
"predicts," "estimates," "aims," "believes," "hopes," "potential"
or similar words. Forward-looking statements are not guarantees of
future performance, are based on certain assumptions and are
subject to various known and unknown risks and uncertainties, many
of which are beyond our control. Actual results may differ
materially from the expectations contained in the forward looking
statements. Factors that may cause such differences include, but
are not limited to, the risks that:
- we may not be able to continue as a going concern;
- a default under the terms of the secured note with Lambda
Investors LLC would result in the lender foreclosing upon
substantially all of our assets and could result in our inability
to continue business operations;
- we may not be able to complete the contemplated rights offering
which could impair our ability to continue business
operations;
- even if we are able to complete the rights offering, we may not
have sufficient capital to successfully implement our business
plan;
- restrictions in the secured note and related security agreement
which require the prior consent of the lender may restrict our
ability to operate our business, sell the company or sell our
assets;
- the voluntary recalls of point of use and DSU in-line
ultrafilters used in hospital water treatment applications
announced on October 30, 2013 and the
related circumstances could subject us to claims or proceedings by
consumers, the FDA or other regulatory authorities which may
adversely impact our sales and revenues;
- we face significant challenges in obtaining market acceptance
of our products, which could adversely affect our potential sales
and revenues;
- there are product-related deaths or serious injuries or product
malfunctions, which could trigger recalls, class action lawsuits
and other events that could cause us to incur expenses and may also
limit our ability to generate revenues from such products;
- we face potential liability associated with the production,
marketing and sale of our products, and/or the expense of defending
against claims of product liability, could materially deplete our
assets and generate negative publicity which could impair our
reputation;
- to the extent our products or marketing materials are found to
violate any provisions of the FDC Act or any other statutes or
regulations then we could be subject to enforcement actions by the
FDA or other governmental agencies;
- we may not be able to obtain funding if and when needed or on
terms favorable to us in order to continue operations;
- we may not have sufficient capital to successfully implement
our business plan;
- we may not be able to effectively market our products;
- we may not be able to sell our water filtration products or
chronic renal failure therapy products at competitive prices or
profitably;
- we may encounter problems with our suppliers, manufacturers and
distributors;
- we may encounter unanticipated internal control deficiencies or
weaknesses or ineffective disclosure controls and procedures;
- we may not obtain appropriate or necessary regulatory approvals
to achieve our business plan;
- products that appeared promising to us in research or clinical
trials may not demonstrate anticipated efficacy, safety or cost
savings in subsequent pre-clinical or clinical trials;
- we may not be able to secure or enforce adequate legal
protection, including patent protection, for our products; and
- we may not be able to achieve sales growth in key geographic
markets.
More detailed information about the Company and the risk factors
that may affect the realization of forward-looking statements,
including the forward-looking statements in this press release, is
set forth in our filings with the SEC, including our Annual Report
on Form 10-K for the fiscal year ended December 31, 2012 and our other periodic reports
filed with the SEC. We urge you to read those documents free of
charge at the SEC's web site at www.sec.gov. We do not undertake to
publicly update or revise our forward-looking statements as a
result of new information, future events or otherwise, except as
required by law.
SOURCE Nephros, Inc.