Business
Rockwell Medical Enters into Products Purchase Agreement with its Largest Customer, Enhancing Relationship through 2024
WIXOM, Mich.--(BUSINESS WIRE)-- Rockwell Medical, Inc. (the "Company") (Nasdaq: RMTI), a healthcare company that develops, manufactures, commercializes, and
About this update from Rockwell Medical, Inc.
[{"type":"text","content":" WIXOM, Mich.--(BUSINESS WIRE)--\nRockwell Medical, Inc. (the \"Company\") (Nasdaq: RMTI), a healthcare company that develops, manufactures, commercializes, and distributes a portfolio of hemodialysis products to dialysis providers worldwide, today announced that the Company entered into an amended and restated products purchase agreement with its largest customer (the \"Customer\").\n\n\nUnder the agreement, Rockwell Medical and the Customer agreed to an increase in product pricing, effective September 1, 2023 and continuing until December 31, 2024, and a one-time payment to Rockwell on or after December 1, 2023. The Customer has the option to further extend the term through December 31, 2025. In the event of such an extension, product pricing will be increased for the extended term.\n\n\nFor more details about this amended and restated products purchase agreement, please reference the Form 8-K filed September 21, 2023.\n\n\n\"Our largest customer has been a long-time customer of Rockwell Medical and this amended purchase agreement further extends this customer's commitment to our company,\" said Mark Strobeck, Ph.D., President and CEO of Rockwell Medical. \"This agreement enhances Rockwell's business with increased purchase volumes and revenue, which represents an increase over the revenue generated from this customer as reported in our financial results through the second quarter of 2023. This customer is recognized as one of the leading providers of kidney care services and we are proud to continue to support its dialysis centers and the patients they serve.\"\n\n\nAbout Rockwell Medical\n\n\nRockwell Medical, Inc. (Nasdaq: RMTI) is a healthcare company that develops, manufactures, commercializes, and distributes a portfolio of hemodialysis products for dialysis providers worldwide. Rockwell Medical's mission is to provide dialysis clinics and the patients they serve with the highest quality products supported by the best customer service in the industry. Rockwell is focused on innovative, long-term growth strategies that enhance its products, its processes, and its people, enabling the Company to deliver exceptional value to the healthcare system and provide a positive impact on the lives of hemodialysis patients. Hemodialysis is the most common form of end-stage kidney disease treatment and is typically performed at freest...