NxStage® and Spindial S.p.A. Sign Distribution Agreement for the System One(TM) in Italy
LAWRENCE, Mass., July 19 NxStage Medical, Inc. (Nasdaq: NXTM), a leading manufacturer of innovative dialysis products, today announced that it signed a five-year distribution agreement with Spindial S.p.A., a distributor of renal care products, for the promotion, sale, delivery and service of the NxStage System One(TM) and certain of the Company's in-center products in Italy.
Under the terms of the agreement, the NxStage System One and PureFlow(TM) dialysate preparation system, as well as Medisystems bloodlines and ButtonHole needles, will be available to dialysis providers throughout Italy through Spindial.
"We are delighted to have signed Spindial as our newest international partner and look forward to a growing presence in the Italian market," stated Joseph Turk, Senior Vice President, Commercial Operations of NxStage Medical, Inc. "The Italian dialysis community has been a leader in supporting the benefits of home therapy and more frequent home hemodialysis. As a well established supplier of medical devices in Italy, Spindial will provide us with a meaningful opportunity to broaden access to the NxStage System One."
"We feel that this is right time to introduce home therapy with the NxStage System One because of the growing interest in treating more chronic hemodialysis patients at home versus in the public hospitals," said Marcello Grondelli, President and CEO of Spindial S.p.A. "There are already emerging local policies to expand utilization of home hemodialysis in certain regions of Italy and we believe that these will diffuse to other regions of the country. Our mutual goal is to expand access to NxStage's life-changing therapy in Italy."
About Spindial S.p.A.
Spindial operates in the Italian market both as a supplier of medical devices, mainly haemodialysis products, as well as a provider of dialysis services. Founded in 2002, Spindial and its subsidiary Dialpoint S.r.l., employ 35 people, and have been operated by the Grondelli family since 2004.
About NxStage Medical
NxStage Medical, Inc. (Nasdaq: NXTM) is a medical device company, headquartered in Lawrence, Massachusetts, USA, that develops, manufactures and markets innovative products for the treatment of End Stage Renal Disease (ESRD) and acute kidney failure. For more information on NxStage and its products, please visit NxStage's website at www.nxstage.com.
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including Spindial S.p.A.'s ability to successfully promote, sell and service our products, customer demand for our products in international regions, and factors that are discussed in NxStage's Quarterly Report on Form 10-Q for the period ended March 31, 2010 filed with the SEC. NxStage is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
NxStage Medical: Kristen K. Sheppard, Esq. VP, Investor Relations email@example.com
SOURCE NxStage Medical, Inc.
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