DAXOR CORPORATION ANNOUNCES NON-GOVERNMENT DISTRIBUTION AGREEMENT WITH CONCORDANCE® HEALTHCARE SOLUTIONS

Rhea-AI Summary

Daxor Corporation (NYSE: DXR) has announced a distribution agreement with Concordance Healthcare Solutions, enhancing the availability of its BVA-100^® diagnostic blood test across U.S. healthcare facilities. This partnership aims to promote blood volume measurement for improved patient outcomes in conditions like heart failure. Daxor's CEO, Michael Feldschuh, emphasized that this collaboration will boost sales and awareness of their technology. Concordance's Senior Director highlighted that the BVA-100 will help reduce readmissions and healthcare costs, positively impacting patient care.

Positive

• Distribution agreement with Concordance Healthcare Solutions to expand the market reach of BVA-100.
• Collaboration expected to accelerate Daxor's sales and enhance awareness of blood volume measurement technology.
• Partnership aims to improve patient outcomes and reduce healthcare costs.

Negative

• None.

NEW YORK, July 22, 2021 (GLOBE NEWSWIRE) -- Daxor Corporation (NYSE MKT: DXR), the global leader in blood volume measurement technology, announces today that it has signed a non-government distribution agreement with Concordance Healthcare Solutions, one of the largest independent healthcare distributors in the U.S. Daxor and Concordance will work together to provide Daxor’s BVA-100^® (Blood Volume Analyzer) diagnostic blood test to healthcare facilities nationally, driving the use of blood volume measurement to help guide precise, individualized volume management in a wide variety of medical conditions including heart failure and critical care.

“Partnering with Concordance will accelerate Daxor's growing sales, allowing our technology to reach even more healthcare systems,” said Michael Feldschuh, Daxor’s CEO and President. “Combining our sales and marketing efforts will facilitate awareness, adoption and integration of our much-needed and valuable test into standard of care, leading to better outcomes and improvement of the quality of life for patients.”

“Partnering with Daxor, the dedicated leader in blood volume measurement technology, to distribute the BVA-100 supports our purpose of ‘Positively Impacting Lives’ by reducing readmissions, lowering healthcare costs and improving the lives of our customer’s patients,” said Bill Muich, Concordance’s Senior Director, Equipment Sales and Service. “The Daxor BVA-100 will allow Concordance to offer a unique solution in the lab equipment space benefiting both patients and providers.”

About Daxor Corporation

Daxor Corporation (NYSE: DXR) is the global leader in blood volume measurement technology focused on blood volume testing innovation (organized as an investment company with fully-owned innovative medical instrumentation and biotechnology operations). 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.

About Concordance Healthcare Solutions

Concordance Healthcare Solutions, an independent healthcare distributor headquartered in Tiffin, Ohio, is built on over 175 years of combined industry experience through the merger of three of the nation’s premier healthcare distributors. Concordance spans the U.S. market with nineteen distribution centers licensed in forty-eight states. Concordance delivers dynamic, dependable service to the entire care continuum including Acute Care, Community Health, Government, Home Care, Hospice, Laboratory, Long Term Care, Primary Care and Surgery Centers. In addition, Concordance has experts dedicated to emergency preparedness, 3PL, and reverse logistics, in addition to offering comprehensive support for equipment, remodeling and construction project needs. To learn more, visit: www.concordance healthcare.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 risk 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.

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

FAQ

What is the recent development from Daxor Corporation (DXR)?

Daxor Corporation announced a distribution agreement with Concordance Healthcare Solutions to promote its BVA-100 diagnostic blood test.

How will the partnership with Concordance impact Daxor's sales?

The partnership is expected to accelerate Daxor's sales by increasing the availability of its blood volume measurement technology.

What is the purpose of the BVA-100 diagnostic test?

The BVA-100 is designed to measure blood volume, assisting in individualized volume management for medical conditions like heart failure.

What benefits does the agreement bring to healthcare providers?

The agreement supports better patient care by reducing readmissions and healthcare costs through effective blood volume management.

When was the distribution agreement with Concordance announced?

The distribution agreement was announced on July 22, 2021.