Rockwell Medical Enters into a Multi-Year Product Purchase Agreement with the World's Leading Provider of Dialysis Products and Services
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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