Rockwell Medical Expands Global Distribution in the Dominican Republic and Bermuda
04 Aprile 2024 - 12:00PM
Business Wire
New and expanded distribution agreements
expected to generate approximately $1 million in annual revenues
for Rockwell Medical
Rockwell Medical, Inc. (the "Company") (Nasdaq: RMTI), a
healthcare company that develops, manufactures, commercializes, and
distributes a portfolio of hemodialysis products to dialysis
providers worldwide, today announced that it entered into a new and
expanded distribution agreement with BioNuclear and Atlantic
Medical International ("AMI"), respectively. In the aggregate,
these agreements are expected to generate approximately $1 million
in annual revenues for the Company.
BioNuclear specializes in the marketing of reagents, equipment
and furniture for clinical laboratories, medical equipment and
devices, vaccines for human consumption and supplies for
hemodialysis and peritoneal dialysis. Rockwell Medical signed a
five-year distributor agreement with BioNuclear through which
BioNuclear may import, sell, promote and distribute Rockwell
Medical's hemodialysis concentrates products within the Dominican
Republic. The agreement will remain in effect for five years and
BioNuclear has the option to extend the agreement for an additional
five years beyond the original term.
AMI is Bermuda's leading supplier of medical products and
equipment for the acute and continuing care markets. AMI has been a
distributor of Rockwell Medical products since 2022 at which time
the Company signed a five-year distribution agreement with AMI with
the option to extend the agreement. The amended distribution
agreement between Rockwell Medical and AMI expands the list of
hemodialysis products that AMI is purchasing from the Company,
includes purchasing commitments, and generates a profit margin
consistent with Rockwell Medical's gross margin guidance for
2024.
“We are excited to build upon our relationship with Rockwell
Medical by expanding our supply agreement," said Chris Merritt,
General Manager at AMI. "This updated distribution agreement with
Rockwell Medical affords us the ability to serve and deliver more
high-quality, life-sustaining products to the fragile dialysis
population in Bermuda."
"The global reach of our hemodialysis concentrates products
continues to grow," said Tim Chole, Senior Vice President, Sales
and Marketing at Rockwell Medical. "Through distribution
arrangements such as these with BioNuclear and AMI, we continue to
execute against our strategy and vision to become the leading
supplier of hemodialysis concentrates worldwide."
About Rockwell Medical
Rockwell Medical, Inc. (Nasdaq: RMTI) is a healthcare company
that develops, manufactures, commercializes, and distributes a
portfolio of hemodialysis products for dialysis providers
worldwide. Rockwell Medical's mission is to provide dialysis
clinics and the patients they serve with the highest quality
products supported by the best customer service in the industry.
Rockwell Medical is focused on innovative, long-term growth
strategies that enhance its products, its processes, and its
people, enabling the Company to deliver exceptional value to the
healthcare system and provide a positive impact on the lives of
hemodialysis patients. Hemodialysis is the most common form of
end-stage kidney disease treatment and is typically performed at
freestanding outpatient dialysis centers, hospital-based outpatient
centers, skilled nursing facilities, or in a patient’s home.
Rockwell Medical's products are vital to vulnerable patients with
end-stage kidney disease, and the Company is relentless in
providing unmatched reliability and customer service. Rockwell
Medical is the second largest supplier of acid and bicarbonate
concentrates for dialysis patients in the United States and has the
vision of becoming the leading global supplier of hemodialysis
concentrates. Certified as a Great Place to Work® in 2023 and 2024,
Rockwell Medical is Driven to Deliver Life-Sustaining Dialysis
SolutionsTM. 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,” “are on track,” “are resolute in our
vision,” 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 generate the expected annual revenues from
its contracts, that the profit margins will be consistent with
gross margin guidance, that Rockwell Medical will become the
leading global supplier of hemodialysis concentrates or maintain
its customer relationships going forward. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240404621106/en/
Heather R. Hunter SVP, Chief Corporate Affairs Officer (248)
432-1362 IR@RockwellMed.com
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