2023-07-11 06:29:17 ET
- Rockwell Medical ( NASDAQ: RMTI ) announced on Tuesday that it has acquired the hemodialysis concentrates business from Evoqua Water Technologies for $11 million up front in cash plus two milestone payments of $2.5 million each at 12 and 24 months from the closing of the deal.
- The move adds a profitable business that generates approximately $18 million in annual revenue and will add over $3.3 million in annual EBITDA for Rockwell Medical ( RMTI ).
- The addition of the business significantly expands Rockwell Medical's geographic footprint, customer base, and product offerings, further adding fully automated manufacturing know-how and capacity.
- Additionally, the company will now become the leading supplier of liquid bicarbonate products to dialysis centers in the United States.
- The company further said it increases its 2023 revenue guidance to between $82.0 million and $86.0 million vs. the consensus of $81.51 million.
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Rockwell Medical acquires hemodialysis concentrates business from Evoqua Water; raises FY23 outlook