Daxor Corporation Closes Q4 2023 with Growth in New Sales to Hospital Systems and Increased Utilization of its BVA-100® Blood Volume Diagnostic Across the U.S. at Existing Accounts
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Insights
The expansion of Daxor Corporation's blood volume analysis technology represents a strategic move in the healthcare sector, potentially capturing a larger market share. The acquisition of new BVA analyzers by prominent healthcare systems indicates a growing trust in Daxor's technology. This trust is likely a result of proven clinical efficacy and cost-effectiveness, which can lead to improved patient outcomes and optimized care practices.
Adoption by large and geographically diverse healthcare providers suggests that the technology is gaining acceptance across different healthcare settings. This widespread adoption could signal a shift in standard care practices, where BVA becomes a more common diagnostic tool. The impact on the business can be seen in the potential for recurring revenue streams from analyzer rentals and the ezBVA Lab service, as well as from the sale of disposable components required for each analysis.
Daxor's reported growth in Q4 2023 is a positive indicator for investors, as it suggests a robust sales strategy and efficient market penetration. The mention of shortened sales cycles and streamlined clinician onboarding implies that Daxor has effectively reduced barriers to entry for their technology, which can lead to higher sales volumes and faster revenue growth.
Investors should note the company's ability to end the year in a position of strength, as it may indicate a favorable outlook for future financial performance. However, it is crucial to monitor the sustainability of this growth, particularly in terms of how the adoption of Daxor's technology translates into long-term financial results. The capital investments made by healthcare systems in purchasing or renting BVA analyzers could reflect confidence in the long-term value of Daxor's offerings.
The clinical and health economic evidence supporting Daxor's BVA technology is a critical factor in its adoption. Improved patient outcomes are a key driver in the healthcare industry and technologies that can demonstrate such improvements are likely to be adopted more widely. The integration of BVA into various treatment areas suggests that the technology has applications beyond its current use, which could lead to further growth and innovation.
From a research perspective, the data generated from widespread BVA use could contribute to medical research, potentially leading to new insights into patient care. It is also important to consider the impact of this technology on medical practice, including the potential for BVA to become a standard diagnostic tool in certain medical scenarios, which would further entrench Daxor's market position.
Daxor's ezBVA Lab Service Plays a Significant Role in Driving Growth and Fostering Widespread Adoption
Oak Ridge, TN, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Daxor Corporation (Nasdaq: DXR), the global leader in blood volume measurement technology today announces the expansion of blood volume analysis (BVA) through new analyzer purchases and the utilization of Daxor’s ezBVA Lab service. These Q4 2023 initiatives have all played a significant role in driving the growth and the widespread adoption of BVA providing a strong position going into 2024.
Q4-2023 sales wins include:
- BVA analyzer purchase at the largest and most integrated healthcare system in Georgia
- BVA analyzer purchase at a community-directed health system based in Wisconsin
- BVA analyzer rental at an academic health center servicing patients from Oregon, southwest Washington, Idaho, Montana, Alaska, and northern California
- Daxor’s ezBVA Lab service extended to an additional site in a 17-hospital healthcare organization in New Jersey
“Our primary focus continues to be broadening our commercial reach by integrating with new hospital systems, exploring additional treatment areas, and continually strengthening the clinical and health economic evidence that demonstrates the benefits of our diagnostic," said Michael Feldschuh, Daxor’s CEO and President. "Thanks to the unified efforts of our sales and marketing teams, we've significantly shortened our sales cycle and streamlined clinician onboarding, resulting in optimized care practices and ultimately, improved patient outcomes, all of which allowed us to end 2023 in a position of strength.”
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 only 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 trials in the areas of 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
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