Daxor Corporation Awarded $1.1 Million Contract from the United States Defense Health Agency for Added Capabilities to its Point-of-Care Blood Volume Analyzer

Rhea-AI Summary

Daxor Corporation has been awarded a $1.1 million contract by the United States Defense Health Agency to add electronic medical record integration to its blood volume analyzer. This is the fifth contract awarded to Daxor for the development of their next generation technologies.

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• Daxor Corporation has been awarded a $1.1 million contract to add electronic medical record integration to its blood volume analyzer, which could accelerate successful commercialization.

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Oak Ridge, TN, July 05, 2023 (GLOBE NEWSWIRE) -- Daxor Corporation (NASDAQ: DXR), the global leader in blood volume measurement technology, today announced that the United States Defense Health Agency (DHA) has awarded the Company a $1.1 million sequential Phase II Small Business Innovative Research (SBIR) contract to add the capability of electronic medical record (EMR) integration to its small, portable, highly accurate, battery-powered blood volume analyzer.

“This award represents our fifth SBIR contract to support the continued development of our next generation technologies,” said Michael Feldschuh, CEO of Daxor Corporation. “EMR integration into our next generation device has been identified by military and civilian subject matter experts as a valuable capability to accelerate successful commercialization. We are focused on making volume measurement easier and quicker to perform, whether in a hospital lab, on the battlefield, or at the patient bedside.”

“Direct blood volume measurement has been shown to improve outcomes in a broad range of acute and chronic medical conditions,” commented Jonathan Feldschuh, Chief Science Officer of Daxor. “Building on Daxor’s core technology, our new devices will enable caretakers and clinicians to make precise and timely decisions for medication administration and determining patient-specific treatment.”

About Daxor Corporation

Daxor Corporation (Nasdaq: 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. Over 65,000+ tests have been performed at leading hospital centers across the U.S., enhancing hospital performance metrics in a broad range of surgical and medical conditions, including significantly reducing mortality and readmissions in heart failure and critical care. Daxor has several ongoing multicenter trials in the areas of COVID-19 and heart failure treatment with support from the NIH and is under contract developing analyzers to improve combat casualty care with the U.S. Department of Defense. 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. Sign up to receive news on Daxor’s innovative technology HERE.

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.

Investor Relations Contact:
Bret Shapiro
Sr. Managing Partner, CORE IR
1-516-222-2560
brets@coreir.com

FAQ

What is the contract awarded to Daxor Corporation for?

Daxor Corporation has been awarded a $1.1 million contract by the United States Defense Health Agency to add electronic medical record integration to its blood volume analyzer.

How many contracts has Daxor Corporation received for the development of their next generation technologies?

Daxor Corporation has received five contracts for the development of their next generation technologies.

What are the potential benefits of adding electronic medical record integration to the blood volume analyzer?

Adding electronic medical record integration to the blood volume analyzer could accelerate successful commercialization and enable precise and timely decisions for medication administration and determining patient-specific treatment.