Revenue for second quarter ended June 30, 2018 increased 27 percent compared to the same period in 2017 and six percent sequentially over the first quarter of 2018.
Expanded US sales territories from ten to 13 and hired and trained three additional sales representatives.
In July 2018, received a blanket purchase agreement from the United States Department of Veteran’s Affairs for up to a maximum of $6.5 million to supply Aquadex FlexFlow systems for outpatient services. The blanket purchase agreement is for a period of up to five-years and allows but does not obligate the purchase of the products.
Recently published data at the International Society for Pharmaeconomics and Outcomes Research conference shows that hospitals that use an ultrafiltration system versus diuretic therapy save an average of $3,975 per patient at 90 days due to a reduction of patient readmission rates and duration of stay.
Continued international expansion and announced entrance into the German market by signing an agreement with HSC, our current European logistics provider.
Subsequent to quarter end, completed an underwritten public equity offering for net proceeds of approximately $4.7 million.
“We have continued to incrementally execute on our expansion strategy, including continued upward trends in our revenue,” said John Erb, Chairman and CEO. “We continue to be optimistic about our future growth and look forward to reporting further developments.”
The Company will host a conference call and webcast at 9:00 AM ET today to discuss its financial results and provide an update on the Company’s performance.
To access the live webcast, please visit the Investors page of the CHF Solutions website at www.chf-solutions.com. Alternatively, you may access the live conference call by dialing (877) 303-9826 (U.S.) or (224) 357-2194 (international) and using conference ID 8576075. An audio archive of the webcast will be available following the call on the Investor page at www.chf-solutions.c