WIXOM, Mich.–Rockwell Medical Inc. (Nasdaq: RMTI), a manufacturer of products for patients suffering from blood disorders and diseases associated with the kidney, announced a three-year product purchase agreement with Concerto Renal Services, the largest provider of dialysis in skilled nursing facilities in the United States.
The dollar value of the agreement wasn’t disclosed, although Rockwell in a news release described it as a “multi million dollar” deal.
Under the agreement, Rockwell Medical will be the primary supplier of liquid and dry acid and bicarbonate concentrates to Concerto, a commitment that includes supply and purchasing minimums. Concerto operates in 11 states—Illinois, Maryland, Kansas, Missouri, Indiana, Michigan, Ohio, Wisconsin, Georgia, Pennsylvania, and Delaware—and is launching operations in several additional states.
Founded by nursing home operators who grew frustrated with both the quality of in-house dialysis care and the risks of transporting patients offsite for renal care, Concerto Renal Services began in 2015 with a vision of ‘Giving Life to People on Dialysis’. Based in Chicago, Concerto provides in-house services to more nursing home residents than any other provider in America. Concerto believes that dialysis care for nursing home residents should accommodate their lifestyle and conform to their schedule. The result is improved and extended lives, while dramatically reducing the overall costs of these patients to the healthcare system.
“We are thrilled to partner with Concerto and add another new customer to our growing hemodialysis concentrates business,” said Mark Strobeck, president and CEO at Rockwell Medical. “This is the second agreement that we have established over the past several weeks that will generate millions of dollars in revenue, annually, for Rockwell Medical. The hemodialysis concentrates market is rapidly growing and our partnership with Concerto offers us the platform to advance innovative, proactive solutions that serve patients suffering from end-stage kidney disease. We are on track to achieving profitability in 2024 and are resolute in our vision to become the global leader in the hemodialysis market.”
In the United States, the in-center hemodialysis concentrates market is currently valued at $380 million and is anticipated to grow to approximately $500 million by 2026, driven primarily by an increasing number of patients suffering from end-stage kidney disease. Rockwell is the second largest supplier of life-sustaining hemodialysis concentrates products to dialysis clinics in the United States. An indispensable player in this large and expanding market, Rockwell Medical is one of only two suppliers that has the manufacturing scalability and transportation infrastructure to service the over 7,500 dialysis clinics in the United States along with select international markets.
Rockwell is the second largest supplier of acid and bicarbonate concentrates for dialysis patients in the United States. More at www.RockwellMed.com.