System One Distribution Agreement in Australia and NZ
NxStage(R) Advances Global Growth Strategy with System One(TM) Regulatory Approval and Distribution Agreement in Australia and New Zealand
LAWRENCE, Mass., May 4, 2011 /PRNewswire-AsiaNet/ --
NxStage Medical, Inc. (Nasdaq: NXTM), a leading manufacturer of innovative dialysis products, today announced that it has received regulatory approval from Australia's Therapeutic Goods Administration (TGA) for the NxStage System One(TM) and signed a five-year agreement, the first year of which is exclusive, with Regional Health Care Group (RHCG), a leading distributor of medical products in Australia and New Zealand.
Under the terms of the agreement with RHCG, the NxStage System One(TM) and PureFlow(TM) dialysate preparation system will be available to dialysis centers throughout Australia and New Zealand through RHCG. RHCG also has the option to make Medisystems bloodlines and ButtonHole needles available to their customers in the region.
"NxStage is pioneering home hemodialysis and will be an important addition to our portfolio. In Australia and New Zealand there are more than 12,000 people receiving dialysis treatment, and both countries are recognized as leading the world with home hemodialysis programs, achieving some of the highest 'at-home' patient rates internationally," stated Stephen Doorey, General Manager of Regional Health Care Group (RHCG). "We look forward to combining NxStage's product portfolio with RHCG's extensive distribution network to give patients and providers access to the life-changing benefits possible with the System One."
"We continue to put the building blocks in place to increase our presence in the international market," said Jeffrey H. Burbank, Chief Executive Officer of NxStage Medical, Inc. "I'm pleased to expand our reach to Australia and New Zealand with both regulatory approval for the System One and a new distribution agreement with RHCG, a premiere distributor of medical products in this region. With increased strategic focus, we expect international to be a more meaningful driver of our long term growth beyond 2011."
The announcement of the distribution agreement with RHCG comes one week after NxStage announced that it had named Michael Miller, Jr. to the newly-created position of President, International.
About
NxStage
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 end-stage renal
disease, or ESRD, and acute kidney failure. For more
information on NxStage and its products, please visit the
company's website at http://www.nxstage.com.
About
Regional Health Care Group
Regional Health Care
Group (RHCG) is 100% Australian-owned. RHCG is a provider of
premium quality capital equipment and medical consumables,
with business extending across the Australian continent and
New Zealand. RHCG are specialists in introducing innovative
technology and devices to the Australian and New Zealand
healthcare market. For more information on RHCG, please
visit the company's website at http://www.rhcg.com.au.
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.
The forward-looking statements in this release include
statements as to NxStage's expectations that international
sales will be a more meaningful driver of the Company's
long-term growth, and the ability of RHCG to expand patient
access to the System One in Australia and New Zealand.
Actual results may differ materially from those indicated by
these forward-looking statements as a result of various
important factors including customer demand for our products
worldwide, the ability of RHCG to successfully promote, sell
and service our products, customer demand for our products
in Australia and New Zealand and other factors that are
discussed in NxStage's Annual Report on Form 10-K for the
year ended December 31, 2010 filed with the SEC. 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.
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