Sunshine Heart Provides Business Update Regarding Execution of Strategic Growth Plan
EDEN PRAIRIE, Minn., March 23, 2017 (GLOBE NEWSWIRE) — Sunshine Heart, Inc. (NASDAQ:SSH) announced today its progress in successfully executing its Aquadex growth strategy. After acquiring the Aquadex business from Baxter International in August of 2016, the company began executing a revenue growth strategy focused on increasing utilization in the top 55 hospital accounts, which made up 80% of the business. By the end of 2016, there were 95 hospital accounts that have re-engaged and are purchasing the disposable blood sets on a regular basis. As of March 2017, there are now 115 active hospital accounts.
“Our momentum is increasing as we reach more hospital accounts that have been quiet over the past few years,” said John Erb, Chairman of the Board and CEO of Sunshine Heart.
Looking ahead, the company is focused on four key areas of growth:
- Provide better diagnostic tools that will enable healthcare professionals improve patient selection,
- Generate meaningful economic evidence to support reimbursement and drive utilization,
- Expand utilization of Aquadex in other areas of the hospital, and
- Expand the use of Aquadex in an outpatient setting.
About Sunshine Heart
Sunshine Heart, Inc. (Nasdaq:SSH) is an early-stage medical device company focused on commercializing the Aquadex FlexFlow® System. The Company’s commercial product, the Aquadex 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. Our objective is to improve the quality of life for patients with heart failure and related conditions. Sunshine Heart is a Delaware corporation headquartered in Minneapolis 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 are forward-looking statements that are based on management’s beliefs, assumptions, expectations, and information currently available to management. All statements that address future operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements, including without limitation, our ability to execute on our recently announced strategic realignment, our post-market clinical data collection activities, 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. The risk factors described in our filings with the SEC could cause actual events to adversely differ from the expectations indicated in these forward-looking statements. Management believes that these forward-looking statements are reasonable as and when made. However, you should not place undue reliance on forward-looking statements because they speak only as of the date when made. Sunshine Heart 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. Sunshine Heart may not actually achieve the plans, projections or expectations disclosed in forward-looking statements, and actual results, developments or events could differ materially from those disclosed in the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including without limitation, the possibility that regulatory authorities do not accept our application or approve the marketing of our therapy, the possibility we may be unable to raise the funds necessary for the development and commercialization of our therapy and other risks and uncertainties described in our filings with the SEC. We do not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact:
Chief Financial Officer
Sunshine Heart, Inc.
Sunshine Heart Inc.