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EDEN PRAIRIE, Minn., Feb. 19, 2019 (GLOBE NEWSWIRE) -- CHF Solutions (Nasdaq: CHFS), today announced the initiation of a distribution agreement in the Brazilian market with Bragenix, LTDA. This agreement expands the company’s worldwide sales outreach into South America by entering the largest market in the region.
“We have aggressively pursued our goal to expand worldwide access to aquapheresis therapy using the Aquadex FlexFlow® system. We are entering the South American market through its largest country, Brazil. We look forward to bringing a much-needed solution to thousands of patients who are chronically challenged by fluid overload, when diuretics have failed,” said John Erb, chairman and CEO of CHF Solutions. “Fluid overload resulting from heart failure or cardiovascular surgery is a global issue and we will continue growing our global presence to meet that need.”
It is estimated that approximately 3.9 million individuals in Brazil (around 2 percent of the population) suffer from heart failure.1 The company further estimates that there are approximately 470,000 hospitalizations each year for heart failure, of which approximately 290,000 patients experience fluid overload with less than optimal diuretic response. Bragenix LTDA is focused on identifying innovative technologies in the medical, hospital, commercial and industrial areas and providing sustainable products of proven international quality to the Brazilian market.
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.
Certain statements in this release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, the company’s plans to grow its global presence. 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 ability to execute on our commercial strategy, the possibility that we may be unable to raise sufficient funds necessary for our anticipated operations, 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, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and other risks and uncertainties described in our filings with the SEC. Forward-looking statements speak only as of the date when made. CHF Solutions 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.
Claudia Napal Drayton
Chief Financial Officer
CHF Solutions, Inc.
JQA Partners, Inc.
1 Stevens B., et. al. The Economic Burden of Heart Conditions in Brazil. Health Economics and Social Policy, Deloitte Access Economics, Australia. 2016.