WIXOM, Mich., May 16 /PRNewswire-FirstCall/ -- Rockwell Medical Technologies, Inc. , a leading, innovative hemodialysis concentrate manufacturer serving the healthcare industry, announced today that it has signed a supply contract with Renal Advantage Inc. (RAI).
RAI is headquartered in Brentwood, TN and is the fourth largest provider of dialysis services in the United States. RAI currently operates more than 70 freestanding renal dialysis centers in 10 states serving approximately 7,000 patients suffering from chronic kidney failure. RAI acquired the centers as a result of DaVita Inc.'s acquisition of Gambro Healthcare US. For more information on RAI visit http://www.renaladvantage.com.
At the start of the contract, Rockwell will service approximately half of the RAI centers. The general terms of the supply contract call for RAI to purchase concentrate and other products from Rockwell over a 24-month period. The contract is renewable upon mutual consent thereafter. The RAI centers initially serviced by Rockwell are expected to generate more than $1 million in annual sales revenue.
Mr. Rob Chioini, Chairman, CEO and President of Rockwell said, “We are pleased to have the opportunity to supply RAI with our product. The majority of the centers that we will service will utilize our Dri-Sate Dry Acid Concentrate Mixing System, which will benefit both RAI and Rockwell.”
Ms. Angela Newman, Vice President of Supply Chain for RAI stated, “We are very pleased to have Rockwell as a dialysate supplier for our centers. Rockwell has exceptional customer and delivery service and we are confident that having Rockwell as our dialysate provider will benefit RAI as we continue to streamline and consolidate our supply chain functions.”
Rockwell Medical Technologies, Inc. is an innovative leader in manufacturing, marketing and delivering high-quality dialysis solutions, powders and ancillary products that improve the quality of care for dialysis patients. Dialysis is a process that duplicates kidney function for those patients whose kidneys have failed to work properly and suffer from chronic kidney failure, a condition also known as end stage renal disease (ESRD). There are an estimated 350,000 dialysis patients in the United States and the incidence of ESRD has increased approximately 6% on average each year over the last decade. Rockwell’s products are used to cleanse the ESRD patient’s blood and replace nutrients in the bloodstream. Rockwell offers the proprietary Dri-Sate Dry Acid Concentrate Mixing System, RenalPure(R) Liquid Acid Concentrate, SteriLyte(R) Liquid Bicarbonate Concentrate, RenalPure(R) Powder Bicarbonate Concentrate, Blood Tubing Sets, Fistula Needles and a wide range of ancillary dialysis items. Visit Rockwell’s website at http://www.rockwellmed.com for more information.
Certain statements in this press release with respect to Rockwell’s anticipated sales revenue constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management’s expectations and are based upon currently available information. Management of Rockwell believes the expectations reflected in the forward-looking statements made in this press release are based upon reasonable assumptions. However, certain factors could occur that might cause actual results to vary. These include, but are not limited to, general economic conditions, economic conditions in the hemodialysis industry, competitive factors and other factors discussed in Rockwell’s reports filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties.
Rockwell Medical Technologies, Inc.
CONTACT: Ron Aubrey, Investor Relations, 1-866-565-6139, or Thomas Klema,+1-248-960-9009, both of Rockwell Medical Technologies, Inc.
Web site: http://www.rockwellmed.com/
