ModernLife
- Shares of Rockwell Medical (NASDAQ:RMTI) reached a new 52-week high on Tuesday after the healthcare supplier announced a product distribution agreement with Nipro Medical Corporation, a subsidiary of Japanese MedTech Nipro Corporation (OTCPK:NPRRF).
- According to the terms, Nipro, which has ex-U.S. rights to Rockwell Medical’s (RMTI) products globally, will receive the company’s hemodialysis concentrates and certain other products for two years.
- After the initial period, the parties will have the option to extend the deal for an additional year. The agreement specified $5M as the product purchasing minimum for the first year, with incremental increases added for each subsequent year.
- “We are excited by the opportunity this partnership continues to offer Rockwell Medical and the patients who will be positively impacted by our hemodialysis concentrates worldwide,” said Rockwell Medical’s (RMTI) CEO Mark Strobeck.
