Daxor Corporation Initiates Strategic Collaboration with CHF Solutions, Inc. to Manage Patients with Fluid Overload

 November 1, 2018 - 8:30 AM EDT
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Daxor Corporation Initiates Strategic Collaboration with CHF Solutions, Inc. to Manage Patients with Fluid Overload

NEW YORK, Nov. 01, 2018 (GLOBE NEWSWIRE) -- DAXOR CORPORATION (NYSE MKT: DXR) announced today that it has entered into an agreement with CHF Solutions (Nasdaq: CHFS) to explore clinical synergies between the company’s BVA-100 Blood Volume Analyzer and CHF Solutions’ Aquadex FlexFlow® System to assess the benefit of combining Daxor’s fluid volume diagnostic with Aquadex FlexFlow therapy for the management of the fluid overloaded patient.

“Daxor serves the same community of health care providers seeking to improve heart failure outcomes. We feel that the combination of our precision diagnostic, which is the most direct and objective clinical measure of volume overload, combined with CHF Solutions’ therapy for effective and predictable volume removal holds the potential for significantly improved results for patients treated with this unique combination,” commented Michael Feldschuh, CEO of Daxor Corporation. “We further believe that this relationship has tremendous potential to not only benefit patients, but to improve hospital outcomes and provide both companies with opportunities to demonstrate synergies to their customers. We look forward to exploring the many benefits of working with CHF Solutions.”

The collaboration will initiate with an evaluation of the benefits of blood volume measurement in helping to determine ultrafiltration management with CHFS’s Aquadex FlexFlow system in a pilot study. Recently published outcomes of 245 heart failure admissions showed a decrease in heart failure mortality of 86 percent and 30-day readmissions of 56 percent when the BVA-100 diagnostic was used to guide treatment. A subset of those data included treatment using the Aquadex FlexFlow system to reduce fluid overload. The pilot study is intended to provide additional insight on the potential benefit of using the devices in tandem to enhance clinical outcomes.

“There is proven clinical evidence demonstrating that aquapheresis is an effective means of managing fluid overloaded patients who have failed diuretics,” said John Erb, chairman and CEO of CHF Solutions. “We believe that working with Daxor to maximize effective fluid management with the Aquadex FlexFlow systemis of important benefit to patient care as well as our business strategy.”

About Daxor Corporation

Daxor Corporation is an innovative medical instrumentation and biotechnology company. The company manufactures the BVA-100 Blood Volume Analyzer, the first instrument approved by the FDA to provide rapid direct measurement of a patient’s blood volume. Daxor believes that the BVA-100 Blood Volume Analyzer has the potential to transform therapy in a broad range of surgical and medical conditions. It is the company’s goal, working in conjunction with hospitals and clinics, to achieve that possibility. Ultimately, its mission is to help hospitals and physicians incorporate Daxor’s BVA-100 diagnostic to significantly improve the quality of patient care. For more information please visit Daxor’s website at http://www.daxor.com.

About CHF Solutions

CHF Solutions, Inc. (NASDAQ:CHFS) is a medical device company focused on commercializing the Aquadex FlexFlow system for aquapheresis therapy. The Aquadex FlexFlow system is indicated for temporary (up to eight hours) ultrafiltration treatment of patients with fluid overload who have failed diuretic therapy and extended (longer than 8 hours) ultrafiltration treatment of patients with fluid overload who have failed diuretic therapy and require hospitalization. All treatments must be administered by a healthcare provider, under physician prescription, both of whom having received training in extracorporeal therapies. The company's mission is to predict, measure, and control patient fluid balance through science, collaboration, and innovative medical technology. CHF Solutions is a Delaware corporation headquartered in Minneapolis, Minnesota with wholly owned subsidiaries in Australia and Ireland. The company has been listed on the NASDAQ Capital Market since February 2012.

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.

Contact Information:

Daxor Corporation:
Soren Thompson
Investor Relations
212-330-8502
sthompson@daxor.com

Investor Relations Contact:
Bret Shapiro
Sr. Managing Partner
CORE IR
561-479-8566
brets@coreir.com

Media Contact:
Jules Abraham
CORE IR
917-885-7378
juleas@coreir.com

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Source: GlobeNewswire (November 1, 2018 - 8:30 AM EDT)

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