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CHF Solutions Further Expands Commercial Presence in the Middle East with Distribution Arrangement for Israel
EDEN PRAIRIE, Minn., July 30, 2020 (GLOBE NEWSWIRE) -- CHF Solutions (Nasdaq: CHFS) today announced the signing of a distribution agreement with SysteMedic Ltd., covering Israel, representing the second distribution partnership in the Middle East region. Ultrafiltration therapy is now available in multiple countries outside the U.S.
Ninety percent of hospitalizations among heart failure patients are due to signs and symptoms of fluid overload,1 and approximately two percent of the Israeli population suffers from heart failure.2 The Aquadex SmartFlow System is a simple, flexible and smart fluid management platform using ultrafiltration to stabilize patients experiencing fluid overload, giving providers the ability to manage their patients’ fluid balance with precision, control and ease.
“CHF Solutions is committed to making ultrafiltration therapy available for patients throughout the world. Our partnership with SysteMedic demonstrates continued execution on that strategy,” said John Erb, chairman and CEO of CHF Solutions. “Subject to regulatory approval, we look forward to working with SysteMedic to make the simple, flexible and smart Aquadex SmartFlow™ system available to patients in Israel suffering from fluid overload due to heart failure, cardiovascular surgery and other critical care conditions.”
“We are very excited to work with CHF Solutions to introduce their ultrafiltration technology to Israel,” said Arik Yanco, General Manager of SysteMedic. “We believe the Aquadex therapy will make a difference in the quality of lives of patients and look forward to a successful partnership.”
About CHF Solutions
CHF Solutions, Inc. (CHFS) is a medical device company dedicated to changing the lives of patients suffering from fluid overload through science, collaboration, and innovation. The company is focused on developing, manufacturing and commercializing the Aquadex SmartFlow™ system for ultrafiltration therapy. CHF Solutions is headquartered in Minneapolis, Minn., with wholly owned subsidiaries in Australia and Ireland. The company has been listed on the Nasdaq Capital Market since February 2012.
About the Aquadex SmartFlow System
The Aquadex SmartFlow system delivers clinically proven therapy using a simple, flexible and smart method of removing excess fluid from patients suffering from hypervolemia (fluid overload). The Aquadex SmartFlow system is indicated for temporary (up to 8 hours) or extended (longer than 8 hours in patients who require hospitalization) use in adult and pediatric patients weighing 20 kg or more whose fluid overload is unresponsive to medical management, including diuretics. All treatments must be administered by a health care provider, within an outpatient or inpatient clinical setting, under physician prescription, both having received training in extracorporeal therapies.
SysteMedic Ltd. was established in Israel in 2001, by a group of professionals, each with over 30 years of experience in a variety of clinical fields, including ICU, ER, OR, Trauma, Cardiology and Oncology, as well as related medical equipment and services. SysteMedic Ltd imports and markets innovative medical products and technologies to hospitals, private clinics, health services, home care, military and government customers in Israel.
Certain statements in this release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements about the growth and potential success of distribution partnerships outside of the U.S., including Israel and Palestine. 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 expectations regarding the potential impacts of the COVID-19 pandemic on our business operations, our ability to execute on our commercial strategy, the possibility that we may be unable to raise sufficient funds necessary for our anticipated operations, 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, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and other risks and uncertainties described in our filings with the SEC. Forward-looking statements speak only as of the date when made. CHF Solutions 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.
Claudia Napal Drayton
Chief Financial Officer, CHF Solutions, Inc.