Daxor Corporation Announces Significant Expansion With Five Hospitals Implementing Its BVA-100® Blood Volume Diagnostic for Heart Failure Patients
Oak Ridge, TN, March 27, 2023 (GLOBE NEWSWIRE) -- Daxor Corporation (NASDAQ: DXR), the global leader in blood volume measurement technology, today announces five new hospitals have implemented the Company’s BVA-100 blood volume diagnostic for clinical use to guide fluid management in heart failure patients during the first quarter of 2023. The addition of these hospitals contributes to the significant growth of blood volume analysis (BVA) sales, while providing additional validation for the use of BVA in the clinical setting.
Each of the hospital systems represents a significant presence in their regions. Two of the hospitals are part of leading healthcare organizations in New Jersey - one that comprises 17 hospitals, and the other that offers more than 400 sites of care, including hospitals, physician practices, urgent care centers, outpatient centers, physical rehabilitation and home care, along with multiple specialty centers and institutes. A third site is an academic medical center and is recognized as one of the top heart failure centers in the U.S. with more than 800 physicians in 200 specialties serving patients in Virginia. The site in Mississippi is a community-based facility providing care to patients in five counties in northeast Mississippi and three counties in southern Tennessee, while the fifth hospital, located on the Gulf Coast of Florida, has more than 900 physicians and other healthcare professionals. It is a well-respected heart health research institute, which also participates in clinical trials targeting new ways to manage, prevent and cure cardiovascular disease.
“Growing commercialization remains a key priority and the need for our product has never been greater,” said Michael Feldschuh, Daxor’s CEO and President. “Heart failure is one of the most prevalent, complex, and deadly diseases leading to nearly one million deaths and one million hospitalizations annually. Patient population is expected to rise from the current six million to more than eight million in the next six years as the baby boom generation ages. Hospitals are under increasing pressure to improve outcomes and contain costs, which our diagnostic allows them to achieve. We are encouraged that our continued investment in sales and marketing has resulted in a strong start in 2023, and that we continue to make an impact on a medical system that so desperately needs better support for these patients.”
“For heart failure patients, the initial evaluation of volume status informs the initial and subsequent treatment plans and sets the course for post-acute care and subsequent risk of readmission,” said Jean Oertel, Daxor’s Sr. Vice President of Commercialization and Customer Experience. “Our growing market share is driven by our expanded team of territory managers, strategic partners, and clinical experts who are supporting our customers to achieve dramatic reductions in mortality rates, hospital readmissions and length of stay.”
Daxor’s BVA test has been associated with a reduction in heart failure 30-day mortality by 82%, 30-day readmissions by 56%, and 1-year mortality by 86% in a peer-reviewed study published in the Journal of the American College of Cardiology - Heart Failure titled “Heart Failure Outcomes With Volume Guided Management.” Data presented at the Heart Failure Society of America Annual Scientific Meeting titled “Length of Stay After Blood Volume Analysis in Hospitalized Heart Failure” showed a 55% reduction in length of stay when BVA was done on admission. BVA technology provides clinicians with 98% accurate, actionable data to optimize treatment plans and individualize care, improving outcomes while reducing duration and cost of care.
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 60,000+ 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.
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
