Daxor Corporation Announces 61% Increase in Q1 2021 Sales Revenue and Further Acquisitions of its BVA-100® Blood Volume Analyzer by Leading Medical Centers Throughout the U.S.
NEW YORK, NY, May 13, 2021 (GLOBE NEWSWIRE) — Daxor Corporation (NYSE MKT: DXR), the global leader in blood volume measurement technology, today announced a Q1 2021 increase in revenue of 61% in its operating division on a year-over-year basis. In addition, the sales team has recorded the opening of five new customer accounts utilizing BVA and reports a growing pipeline of additional acquisitions of Daxor’s BVA-100 Blood Volume Analyzer slated for Q3 2021 at major medical centers across the U.S.
“Sales are accelerating as the COVID restrictions are relaxed at hospital centers, allowing our teams to resume on-site visits with customers, accelerating onboarding and the acquisition of our systems,” said Jean Oertel, Vice President of Commercialization and Customer Experience. “We expect that we will have access to over 70% of our client hospitals by the end of Q2 2021. We anticipate that the ease of educating clinicians and providing hands-on training will further accelerate business in the ensuing quarters to come.”
“As our commercial uptake is increasing, we have added additional resources to our sales and marketing team, having hired and trained three additional product representatives to our in-house team as we also work to increase access through third-party distribution agreements as well,” said Michael Feldschuh, President and CEO of Daxor Corporation.
Jonathan Feldschuh, Chief Scientific Officer of Daxor noted, “The increase in sales and sales team members fit well with our planned next-generation analyzer product development schedule, which includes production of both nuclear and novel fluorescing-based point-of-care testing devices over the next year. Our next-generation system promises to be even faster, easier, and expand use of our test into more clinical settings for more indications, which we anticipate will be well-received by our expanding customer base.”
Daxor manufactures the BVA-100 blood test system which provides a simple, inexpensive, objective measurement of volume status and composition providing clinicians with actionable results to optimize fluid management and improve patient outcomes while driving substantial cost savings throughout the healthcare system.
About Daxor Corporation
Daxor Corporation (NYSE: DXR) is the global leader in blood volume measurement technology focused on blood volume testing innovation. We developed and market the BVA-100® (Blood Volume Analyzer), the first diagnostic blood test cleared by the FDA to provide safe, accurate, objective quantification of blood volume status and composition compared to patient-specific norms. The BVA technology enhances hospital performance metrics in a broad range of surgical and medical conditions, including heart failure and critical care, by informing treatment strategies, resulting in significantly improved multiple measures of patient outcomes. Daxor’s mission is to advance healthcare by enabling optimal fluid management with blood volume analysis. Daxor’s vision is optimal blood volume for all. For more information, please visit our website at Daxor.com.
Forward-Looking Statements
Certain statements in this release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding the impact of hiring sales staff and expansion of our distribution channels. 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 risks associated with 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, FDA regulatory actions, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and additional other risks and uncertainties described in our filings with the SEC. Forward-looking statements speak only as of the date when made. Daxor 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.
Investor Relations Contact:
Bret Shapiro
Sr. Managing Partner, CORE IR
516-222-2560
brets@coreir.com
