Daxor Corporation Announces That Shertech Pharmacy Corp. Acquires BVA-100 Blood Volume Analyzer to Service Multiple Hospitals

NEW YORK, NY--(Marketwire - February 01, 2012) -

Daxor Corporation (NYSE Amex: DXR), a medical instrumentation and biotechnology company, today announced the receipt of a signed trial agreement from Shertech Pharmacy in Greenville, South Carolina. This agreement will provide Shertech with a Daxor BVA-100 Blood Volume Analyzer, an instrument which enables semi-automated measurement of a patient’s total blood volume, red blood cell volume and plasma volume. Blood volume abnormalities are observed in a variety of cardiac conditions and have been associated with poor prognosis. Published studies using the BVA-100 have shown that blood volume measurement is important in treating heart failure, critical care patients in intensive care units, and in diagnosing the true status of complex anemias and syncope (fainting).

Shertech Pharmacy is an independently owned specialty radio-pharmacy corporation with facilities in North and South Carolina and was founded in 1991. Shertech provides radio nuclear medical services to over 90 hospitals (the smallest being a 60-bed facility and the largest being an 890-bed facility) in the North and South Carolina areas.

Shertech pharmacists and technicians are committed to providing the best possible solutions and quality care to customers and their patients. They have continuous courier services between facilities, allowing for prompt delivery and processing of blood at Shertech Pharmacy. Shertech’s commitment to life-long learning, research, and continuing education assures each patient that the most current and accurate methods are used to provide the medicine they require. These specialized radio-pharmacists are experts in their field, and work in cooperation with local hospitals and physicians in research studies and medical trials to help develop even better medical analyses and outcomes for patients. The staff members recognize the uniqueness of every customer and individually tailor service to fit each patient’s needs.

The President of Shertech, Richard Sheriff, said, “I view this as an opportunity by our facility to provide one of the most advanced forms of technology, namely blood volume measurement, to a large number of hospitals which currently are not able to provide this essential service. Shertech Nuclear Pharmacy is based on high standards of integrity and a desire to advance our technology. The Daxor Blood Volume analysis method not only allowed us to meet customer needs, but to also improve patient outcomes with advanced testing methods and results. As the demand for this service expands, we will increase the number of locations at which we have a blood volume analyzer stationed. Shertech Pharmacy was already a CLIA approved Laboratory; the Daxor BVA method allows us to expand our products and service offering to our customers and to provide a more in depth clinical report.”

Dr. Feldschuh, the CEO of Daxor, said, “We are particularly interested in our working agreement with Shertech. Many hospitals in the United States have only minimal nuclear medical services which involve the use of radioisotopes. This agreement will provide for many hospitals to have an opportunity to utilize the essential service of being able to accurately measure a patient’s blood volume. A significant percentage of patients hospitalized in the U.S. have blood volume derangements which are inaccurately diagnosed and not optimally treated. Patients in intensive care units, post-op patients, congestive heart failure patients, patients suffering from hyponatramia (a disorder of sodium concentration) typically have major blood volume derangements. These patients are usually treated on the basis of clinical estimates by physicians who are not able to treat their patients optimally because they have to utilize surrogate tests which do not accurately measure blood volume. A blood volume analyzer can measure the actual blood volume of a patient to within 98% accuracy.” It is our belief that every hospital in the U.S. which treats patients sick enough to be hospitalized should, at a minimum, have a blood volume analyzer or its services available.

Daxor Corporation manufactures and markets the BVA-100, which is used in conjunction with Volumex, Daxor’s single use diagnostic kit. For more information regarding Daxor Corporation’s Blood Volume Analyzer BVA-100, visit Daxor’s website at www.Daxor.com.