Rockwell Medical Enters into a Multi-Year Product Purchase Agreement with the World's Leading Provider of Dialysis Products and Services
December 17 2024 - 6:00AM
Business Wire
Partnership is expected to generate upwards
of $10 million in net sales for the Company in 2025, with
incremental price increases each subsequent year and an effective
term of up to five years
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 the
Company entered into a product purchase agreement (the "Agreement")
with the world's leading provider of dialysis products and services
("the Customer").
Rockwell Medical is the leading supplier of liquid bicarbonate
in the United States and the only organization that currently
manufactures liquid bicarbonate at the scale that can support
leading U.S.-based dialysis providers. Under the terms of the
Agreement, Rockwell Medical will supply the Customer with the
Company's liquid bicarbonate hemodialysis concentrates product,
SteriLyte®. The Agreement will remain in effect for three years
with the option to renew for two additional one-year periods and is
expected to generate upwards of $10 million in net sales for the
Company in the first year, a portion of which was not included in
Rockwell Medical's previously disclosed revenue estimates for 2025,
with incremental price increases each subsequent year.
"We have had a long-standing relationship with the Customer and
are excited to further solidify our partnership together through
this long-term agreement," said Mark Strobeck, Ph.D., President and
CEO of Rockwell Medical. "The Customer is a leading global
healthcare company that continuously works to improve patients’
quality of life by offering them high-quality products, as well as
innovative technologies and treatment concepts. We are pleased to
be among the esteemed group of suppliers that supports the Customer
and the patients they serve each and every day around the
globe."
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 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. Certified as a Great Place to
Work® in 2023 and 2024 and named Fortune Best Workplaces in
Manufacturing & ProductionTM in 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 revenue from the
Agreement or that the Agreement will be renewed. 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, 2023, 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/20241217070795/en/
Heather R. Hunter SVP, Chief Corporate Affairs Officer (248)
432-1362 IR@RockwellMed.com
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