EDEN PRAIRIE, Minn., May 28, 2020 (GLOBE NEWSWIRE) — CHF Solutions (Nasdaq: CHFS) today announced the signing of a distribution agreement with Transimed Medical Equipment Co. LLC covering the United Arab Emirates, the first distribution partnership in the Middle East region. The company now has distribution agreements covering 14 countries outside the U.S.
“This partnership demonstrates our continued commitment to make ultrafiltration therapy available for patients throughout the world, as we expand into this new region,” said John Erb, chairman and CEO of CHF Solutions. “Subject to regulatory approval, we look forward to working with Transimed to make the simple, flexible and smart Aquadex SmartFlow™ system available to patients in the U.A.E suffering from fluid overload due to heart failure, cardiovascular surgery and other critical care conditions.”
“We are very excited to work with CHF Solutions to introduce their state-of-the-art technology to the U.A.E. market,” said Mohammed Zein, CEO of Transimed. “We believe the Aquadex therapy will make a difference in the quality of lives of heart failure patients in the UAE. We look forward to a successful partnership that aims to improve patients’ lives.”
In the United Arab Emirates, over 90,000 patients are treated annually for heart failure at an overall cost of approximately $500 million.1
About CHF Solutions
CHF Solutions, Inc. (CHFS) is a medical device company dedicated to changing the lives of patients suffering from fluid overload through science, collaboration, and innovation. The company is focused on developing, manufacturing and commercializing the Aquadex SmartFlow™ system for ultrafiltration therapy. CHF Solutions is headquartered in Minneapolis, Minn., with wholly-owned subsidiaries in Australia and Ireland. The company has been listed on the Nasdaq Capital Market since February 2012.
About the Aquadex SmartFlow System
The Aquadex SmartFlow system delivers clinically proven therapy using a simple, flexible and smart method of removing excess fluid from patients suffering from hypervolemia (fluid overload). The Aquadex SmartFlow system is indicated for temporary (up to 8 hours) or extended (longer than 8 hours in patients who require hospitalization) use in adult and pediatric patients weighing 20 kg or more whose fluid overload is unresponsive to medical management, including diuretics. All treatments must be administered by a health care provider, within an outpatient or inpatient clinical setting, under physician prescription, both having received training in extracorporeal therapies.
Transimed Medical Equipment Co. LLC is a medical device distributor company that covers the United Arab Emirates region. The company was founded by a team of energetic medical supply professionals with a deep knowledge of the medical supplies market in the Middle East and North Africa (MENA) region. Its representative office in the region is located in Dubai. Transimed brings state of the art medical solutions to healthcare professionals. Transimed values its partnership with medical institutions, partners and takes pride in delivering health solutions that benefit patients. Transimed is a for profit organization that does not compromise on the quality of the products for patient safety and well being.
Certain statements in this release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements about the growth and potential success of distribution partnerships outside of the U.S., including U.A.E. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including, without limitation, those risk associated with our expectations regarding the potential impacts of the COVID-19 pandemic on our business operations, our ability to execute on our commercial strategy, the possibility that we may be unable to raise sufficient funds necessary for our anticipated operations, our post-market clinical data collection activities, benefits of our products to patients, our expectations with respect to product development and commercialization efforts, our ability to increase market and physician acceptance of our products, potentially competitive product offerings, intellectual property protection, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and other risks and uncertainties described in our filings with the SEC. Forward-looking statements speak only as of the date when made. CHF Solutions does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACTS INVESTORS: Claudia Napal Drayton Chief Financial Officer, CHF Solutions, Inc. 952-345-4205 MEDIA: Jessica Stebing Health+Commerce 260-336-6202