NxStage Announces Streamline(TM) Blood Tubing Set Supply Agreement with Renal Advantage Inc.
LAWRENCE, Mass., Oct. 21 /PRNewswire-FirstCall/ — NxStage Medical, Inc. (Nasdaq: NXTM), a leading manufacturer of innovative dialysis products, today announced that its Medisystems Division has signed a long-term product supply agreement with Renal Advantage Inc. (RAI), the fourth largest provider of dialysis services in the United States. Under the terms of this agreement, NxStage will supply the Streamline™ airless blood tubing set as well as MasterGuard and other products to RAI’s dialysis center network.
RAI has been a strong strategic partner in expanding availability of daily home hemodialysis therapy with NxStage’s System One, and a long-term customer of our Medisystems Division. We are delighted that RAI has chosen to integrate the Streamline product into its in-center operations, and to broaden their commitment to our products, said Jeffrey H. Burbank, President and Chief Executive Officer of NxStage Medical. By expanding relationships with highly regarded organizations like RAI, NxStage continues to demonstrate our ability to effectively educate the market on the compelling benefits that products like Streamline deliver.
Streamline is yet another example of NxStage’s ability to innovate and bring value to our organization. As part of a diligent evaluation process in our centers, Streamline showed its ability to improve patient clearances, reduce costs, and enhance staff satisfaction, stated Dean Weiland, COO of RAI. We are pleased to broaden this relationship and be part of NxStage’s continued pioneering work in both home hemodialysis and the in-center market.
NxStage’s latest generation blood tubing set is the Streamline™, an efficient and airless tubing set configuration that improves clinical and economic performance. Streamline is designed to reduce dialysate flow, dialyzer size, and treatment time; minimize heparin and waste; and optimize dose delivery, as measured in Kt/V. In recent NxStage evaluations, centers were able to increase their patient dialysis dose delivery and increase minimum Kt/V of 1.2 to 98% of their in center patients — clearly exceeding industry standards that tout Kt/V of 1.2 for 93% of patients. This is a key measure for in-center therapy. Streamline also includes our patented LockSite™ needleless access ports, which eliminate the need for sharp needles or costlier guarded needles to be used with the tubing set during dialysis.
About NxStage Medical
NxStage Medical, Inc. (Nasdaq: NXTM) is a medical device company, headquartered in Lawrence, Massachusetts, USA, that develops, manufactures and markets innovative products for the treatment of ESRD and acute kidney failure. For more information on NxStage and its products, please visit the company’s website at https://www.nxstage.com.
About Renal Advantage
Based in Brentwood, Tennessee, Renal Advantage Inc. provides dialysis services to patients with chronic kidney failure, also known as end-stage renal disease (ESRD). Renal Advantage provides services to over 8,200 patients in 91 dialysis centers in ten states and delivers laboratory services through RenaLab, a state-of-the-art independent clinical laboratory located in Jackson, MS. Founded by veteran healthcare executives, the Company’s growth plan began with its acquisition of 73 dialysis centers in October 2005, which was financed in partnership with Welsh, Carson, Anderson & Stowe. For more information, visit the Company’s website at http://www.renaladvantage.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words anticipate, believe, expect, estimate, plan, and similar expressions are generally intended to identify forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, changes relating to customer demand for NxStage’s blood tubing sets and other products and other factors that are discussed in NxStage’s filings with the Securities and Exchange Commission, including the Quarterly Report on Form 10-Q for the quarter ended June 30, 2008. NxStage is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Kristen K. Sheppard, Esq.
VP, Investor Relations
ksheppard@nxstage.com
SOURCE NxStage Medical, Inc.
