Daxor Corporation Announces Further Acquisitions of its BVA-100® Blood Volume Analyzer by Leading Medical Centers Throughout the U.S.

Rhea-AI Summary

Daxor Corporation (NYSE: DXR) has announced new acquisitions of its BVA-100® Blood Volume Analyzer by major medical centers, enhancing its presence in heart failure treatment. A leading Northeast academic center has integrated the device into inpatient protocols, while a Midwest clinic is utilizing it for outpatients. Additionally, three hospitals have renewed support agreements, reflecting the technology's value. The BVA-100® offers a cost-effective solution for fluid management, showing 80% lower costs compared to traditional therapies, and an average life-extension of 2.32 quality-adjusted life years.

Positive

• Increased sales of the BVA-100® despite pandemic challenges.
• Major medical centers adopting the BVA-100®, indicating strong market demand.
• Cost-benefit analysis shows BVA-guided care is 80% less costly than competing therapies.

Negative

• None.

NEW YORK, NY, Dec. 10, 2020 (GLOBE NEWSWIRE) -- Daxor Corporation (NYSE MKT: DXR), an investment company with innovative medical instrumentation and biotechnology operations focused on blood volume measurement, today announces additional acquisitions of Daxor’s BVA-100^® Blood Volume Analyzer at major medical centers across the U.S.

A leading academic medical center in Northeast purchased the BVA-100^® analyzer and has incorporated the BVA blood test into their inpatient treatment protocol for heart failure patients. A medical center in the Midwest purchased the BVA-100^® analyzer for use in their outpatient heart failure clinic. In addition to these new purchases, three hospitals across the country have renewed their paid support agreements solidifying their commitment to the value of blood volume analysis in treating patients with volume derangements.

“Sales continue to excel despite the pandemic, further validating the clinical benefits of our technology in both inpatient and outpatient use,” said Michael Feldschuh, President and CEO of Daxor Corporation. “The BVA-100^® blood test provides a simple, inexpensive, objective measurement of volume status and composition providing clinicians with actionable results to optimize fluid management and improve patient outcomes while driving substantial cost savings throughout the healthcare system.”

“We are encouraged by the continued growth and implementation of our market-leading, FDA-cleared diagnostic blood volume test as a new measure of care. Cost-benefit analysis shows BVA-guided care is 80 percent less costly than other therapies of equal patient benefit in our healthcare system while also demonstrating an impressive average life-extension of 2.32 quality-adjusted life years,” said Jean Oertel, Vice President of Commercialization and Customer Experience. “Daxor’s growing market share is driven by our expanded team of territory managers and clinical experts who are supporting our customers to achieve dramatic reductions in mortality rates and hospital readmissions.”

About Daxor Corporation

Daxor Corporation (NYSE: DXR) is the global leader in blood volume measurement technology focused on blood volume testing innovation. We developed and market the BVA-100^® (Blood Volume Analyzer), the first diagnostic blood test cleared by the FDA to provide safe, accurate, objective quantification of blood volume status and composition compared to patient-specific norms. The BVA technology enhances hospital performance metrics in a broad range of surgical and medical conditions, including heart failure and critical care, by informing treatment strategies, resulting in significantly improved multiple measures of patient outcomes. Daxor's mission is to advance healthcare by enabling optimal fluid management with blood volume analysis. Daxor’s vision is optimal blood volume for all. For more information, please visit our website at Daxor.com.

Forward-Looking Statements

Certain statements in this release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding the impact of hiring sales staff and expansion of our distribution channels. 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 risks associated with 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, FDA regulatory actions, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and additional other risks and uncertainties described in our filings with the SEC. Forward-looking statements speak only as of the date when made. Daxor 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.

Investor Relations Contact:
Bret Shapiro
Sr. Managing Partner, CORE IR
516-222-2560
brets@coreir.com

FAQ

What is the significance of the new acquisitions of BVA-100® by Daxor (DXR)?

The new acquisitions signify an expanding market presence for Daxor's BVA-100®, as major medical centers are integrating the analyzer into their treatment protocols, particularly for heart failure.

How does the BVA-100® impact healthcare costs?

The BVA-100® is shown to reduce costs significantly, with a cost-benefit analysis indicating it is 80% less expensive than other therapies providing similar patient benefits.

What are the clinical benefits of the BVA-100® according to Daxor's press release?

The BVA-100® provides accurate blood volume measurements that aid in optimizing fluid management, improving patient outcomes, and reducing mortality and hospital readmissions.

Who purchased BVA-100® devices from Daxor (DXR)?

A leading academic medical center in the Northeast and a Midwest outpatient heart failure clinic are among the institutions that purchased BVA-100® devices.