Rockwell Medical secures major dialysis product deal; shares soar

WIXOM, MI - Rockwell Medical , Inc. (NASDAQ:RMTI ), a prominent player in the hemodialysis product sector, has secured a significant product purchase agreement with a top global dialysis product and service provider.

Shares surged nearly 15% in pre-market trade Tuesday.

The company, known for being the primary supplier of liquid bicarbonate in the United States, will supply its SteriLyte® liquid bicarbonate hemodialysis concentrates to the unnamed leading customer.

The deal, spanning an initial term of three years with the possibility of two additional one-year renewals, is poised to contribute over $10 million in net sales to Rockwell Medical (TASE:PMCN ) in the first year alone.

This figure exceeds the sales projections previously released by the company for the year 2025. The agreement also includes planned price increases for each subsequent year.

Rockwell Medical's President and CEO, Mark Strobeck, Ph.D., expressed enthusiasm about the extended partnership, highlighting the customer's commitment to enhancing patient quality of life through high-quality products and innovative healthcare solutions.

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Source: Investing.com