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Rockwell Medical Signs Three-Year, Multi-Million Dollar Supply Agreement with Largest Non-Profit Dialysis Provider in the United States
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
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Rhea-AI Summary
Rockwell Medical (RMTI) has secured a multi-million dollar, three-year product purchase agreement with the largest non-profit dialysis provider in the U.S. This agreement positions Rockwell as the preferred supplier of liquid and dry acid and bicarbonate concentrates to hemodialysis facilities nationwide. CEO Mark Strobeck expressed enthusiasm, emphasizing this deal as a foundation for revenue growth and profitability by 2024. The hemodialysis concentrates market is valued at $380 million, with projections reaching $500 million by 2026 due to rising end-stage kidney disease cases. Rockwell is the second largest supplier in this vital market.
Positive
Secured a multi-million dollar, three-year product purchase agreement.
Positioned as the preferred supplier to the largest non-profit dialysis provider in the U.S.
Anticipates revenue growth and profitability by 2024.
Second largest supplier in the $380 million hemodialysis concentrates market with growth prospects.
Negative
None.
WIXOM, Mich.--(BUSINESS WIRE)--
Rockwell Medical, Inc. (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 signed a three-year, multi-million dollar per annum product purchase agreement with the largest non-profit dialysis provider in the United States. As part of the agreement, Rockwell Medical will be the preferred supplier of liquid and dry acid and bicarbonate concentrates to this non-profit dialysis provider's hemodialysis facilities located throughout the United States.
"We are excited to enter this long-term agreement which includes both supply and purchasing commitments as it will strengthen our revenue base over the next three years," said Mark Strobeck, Ph.D., President and CEO at Rockwell Medical. "This arrangement is the first of many that we anticipate establishing this year in order to grow our hemodialysis concentrates business and drive Rockwell towards profitability in 2024. Hemodialysis concentrates is Rockwell's core focus and competency. Given the disruptions that other suppliers have experienced recently, we are determined now more than ever to become the global leader in this market."
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 the second largest supplier of life-sustaining hemodialysis concentrates products to dialysis clinics in the United States. An indispensable player in this large and expanding market, Rockwell Medical 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.
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," “are determined” 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’s hemodialysis business will grow, Rockwell will reach profitability in 2024, Rockwell will become the global leader in hemodialysis concentrates, 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'sSEC 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.
