Rockwell Medical Begins Selling its Hemodialysis Concentrates Products to New Clinics in Minnesota with its Largest Customer

Rhea-AI Summary

Rockwell Medical (NASDAQ: RMTI) has expanded its business into Minnesota, supplying hemodialysis concentrates to clinics there since December 5, 2022. The company anticipates onboarding all clinics by January 1, 2023, expecting over $1 million in revenue in the first year. As the second-largest U.S. supplier of these products, Rockwell is well-positioned in a market expected to grow from $380 million to $500 million by 2026 due to increasing end-stage kidney disease cases. The company aims for annual revenue of $100 million in the coming years.

Positive

• Expansion into Minnesota expected to generate over $1 million in revenue in the first year.
• Rockwell is the second-largest supplier of hemodialysis concentrates in the U.S.
• Market for hemodialysis concentrates projected to grow to approximately $500 million by 2026.

Negative

• None.

WIXOM, Mich.--(BUSINESS WIRE)-- Rockwell Medical, Inc. (“Rockwell” or the “Company”) (Nasdaq: RMTI), a commercial healthcare company focused on providing life-sustaining products for patients suffering from blood disorders and diseases associated with the kidney, announced that the Company is adding new business within the Minnesota region. Rockwell started to supply these clinics with its hemodialysis concentrates products effective December 5, 2022, anticipates that all clinics will be onboarded by January 1, 2023, and expects to generate over one million dollars in revenue the first year.

“Rockwell is focused on growing its hemodialysis concentrates business across the United States and around the globe. Accordingly, we are pleased to announce that we are expanding our distribution capabilities westward into Minnesota and supplying an additional estimated 3,000 dialysis patients with our life-sustaining hemodialysis concentrates products,” said Mark Strobeck, Ph.D., President and CEO at Rockwell Medical. “We are excited to be working more closely with our partner to support their dialysis centers and the patients they serve.”

Rockwell is the second largest supplier of life-sustaining hemodialysis concentrates products to dialysis clinics in the United States and is one of only two suppliers that has the manufacturing scalability and transportation infrastructure to service the over 7,500 dialysis clinics in the United States along with select international markets. In the United States, the in-center hemodialysis concentrates market is currently valued at $380 million and is anticipated to grow to approximately $500 million by 2026, driven primarily by an increasing number of patients suffering from end-stage kidney disease. Rockwell is an indispensable player in this large and expanding market and we believe it is well-positioned to achieve annual revenue of $100 million in the next few years.

About Rockwell Medical

Rockwell Medical, Inc. (Nasdaq: RMTI) is a commercial healthcare company focused on providing life-sustaining products for patients suffering from blood disorders and diseases associated with the kidney. Rockwell is an innovative leader in producing and delivering a portfolio of hemodialysis products, including concentrates (solutions and powders) and related ancillaries, to dialysis providers in the United States and internationally. Rockwell is the second largest supplier of acid and bicarbonate concentrates for dialysis patients in the United States. The Company is dedicated to providing the hemodialysis community with the highest quality products supported by the most reliable delivery service in the industry. For more information, visit www.RockwellMed.com.

Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as, "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "could," "can," "would," "develop," "plan," "potential," "predict," "forecast," "project," "intend," "look forward to," "remain confident" or the negative of these terms, and similar expressions, or statements regarding intent, belief, or current expectations, are forward looking statements. There can be no assurance that: Rockwell Medical will be able to achieve revenue projections, planned cost savings to operate its concentrates business profitability or achieve the other components of its strategy; or the in-center hemodialysis concentrates market will increase in size or that Rockwell Medical will be able to access the expected market opportunity. While Rockwell Medical believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties (including, without limitation, those set forth in Rockwell Medical's SEC filings), many of which are beyond our control and subject to change. Actual results could be materially different. Risks and uncertainties include, but are not limited to those risks more fully discussed in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2021, as such description may be amended or updated in any future reports we file with the SEC. Rockwell Medical expressly disclaims any obligation to update our forward-looking statements, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221213005463/en/

Heather R. Hunter

SVP, Chief Corporate Affairs Officer

(248) 432-1362

IR@RockwellMed.com

Source: Rockwell Medical, Inc.

FAQ

What is Rockwell Medical's stock symbol?

Rockwell Medical's stock symbol is RMTI.

When did Rockwell Medical start supplying clinics in Minnesota?

Rockwell Medical began supplying clinics in Minnesota on December 5, 2022.

What revenue does Rockwell Medical expect from its Minnesota expansion?

Rockwell Medical expects to generate over $1 million in revenue from its Minnesota expansion in the first year.

What is the projected growth of the hemodialysis concentrates market?

The hemodialysis concentrates market is projected to grow from $380 million to approximately $500 million by 2026.

How many clinics will Rockwell Medical onboard in Minnesota?

Rockwell Medical anticipates onboarding all clinics in Minnesota by January 1, 2023.