Daxor Corporation Announces Further Acquisitions and Increased Utilization of its BVA-100® Blood Volume Diagnostic Throughout the U.S.
Daxor Adds a Six-Facility Hospital System with ezBVA Lab and Expands Treatment Areas Among Existing Accounts
Oak Ridge, TN, July 11, 2023 (GLOBE NEWSWIRE) — Daxor Corporation (NASDAQ: DXR), the global leader in blood volume measurement technology, today announces expansion of blood volume analysis (BVA) into five of six hospitals in the Southeast and increased utilization for clinical use at two sites to guide fluid management in patients during the second quarter of 2023. The recent launch of Daxor’s ezBVA Lab service at quarter-end is anticipated to contribute significantly to growth of BVA sales, while providing additional validation for the use of BVA in the coming quarters based upon the pipeline of leads that have already expressed interest in the new offering.
A six-facility hospital system currently operating throughout Northern Kentucky and Southeastern Indiana with 169 physician specialty and primary care offices has begun utilizing Daxor’s ezBVA Lab service – a state-of-the-art CLIA-certified facility located at Daxor’s Oak Ridge facility that provides on-demand, next day blood volume analysis results for their heart failure clinic patients. The hospital system is finding the diagnostic highly effective to optimize care for their heart failure population and a growing cohort of clinicians are gaining expertise with BVA technology.
“Expanding commercialization with the addition of new hospital systems, new treatment areas, and growing clinical and health economic evidence of the benefit our diagnostic provides remains one our key priorities,” said Michael Feldschuh, Daxor’s CEO and President. “The recent launch of our ezBVA Lab service, which reduces test-related overhead and labor, is expected to accelerate adoption and enhance greater prescriber access to our BVA technology in the second half of this year.”
Two additional hospitals have expanded the use of BVA testing highlighting the importance of BVA use in the clinical setting. A leading hospital and academic center in New York, ranked in the top three in the country according to the U.S. News & World Report’s annual 2022 “Best Hospitals”, has begun offering the BVA testing to patients with dysautonomia, a group of medical conditions caused by problems with the autonomic nervous system of which blood volume derangements are often common and go undiagnosed. A second top-ranked facility in central Pennsylvania serving more than one million people through ten hospital campuses, a health plan with more than half a million members, a research institute and the College of Health Sciences, has expanded its use of BVA-100 for its cardiac amyloid patients – a rare condition that impacts the ability of the heart to function properly causing blood volume abnormalities that can only be quantified using BVA.
“We have a robust sales pipeline going into the second half of 2023, fueled by our team of sales and clinical experts, and customers choosing to use Daxor’s ezBVA Lab service – which provides a quicker solution to solve the challenges of hospital readmissions and length of stay without the need for upfront capital investment. It seamlessly integrates into existing workflows, and facilitates easier access to BVA,” said Jean Oertel, Daxor’s Sr. Vice President of Commercialization and Customer Experience.
About Daxor Corporation
Daxor Corporation (Nasdaq: 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 only diagnostic blood test cleared by the FDA to provide safe, accurate, objective quantification of blood volume status and composition compared to patient-specific norms. Over 65,000+ tests have been performed at leading hospital centers across the U.S., enhancing hospital performance metrics in a broad range of surgical and medical conditions, including significantly reducing mortality and readmissions in heart failure and critical care. Daxor has several ongoing multicenter trials in the areas of COVID-19 and heart failure treatment with support from the NIH and is under contract developing analyzers to improve combat casualty care with the U.S. Department of Defense. 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. Sign up to receive news on Daxor’s innovative technology HERE.
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 risk 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
1-516-222-2560
brets@coreir.com
