NxStage® Advances Global Growth Strategy with System One™ Regulatory Approval and Distribution Agreement in Australia and New Zealand
LAWRENCE, Mass., May 4, 2011 /PRNewswire/ -- 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™ 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™ and PureFlow™ 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 recognised 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.
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 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 www.rhcg.com.au.
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.
Kristen Sheppard, Esq.
Vice President, Investor Relations
NxStage Medical, Inc.
National Marketing Manager
Australia & New Zealand
Regional Health Care Group
3-11 Primrose Avenue,
ROSEBERY, NSW 2018
+61 2 9697 0933
+61 418 274 034
SOURCE NxStage Medical, Inc.