CHF Solutions, Inc. Announces Sales Force Realignment To Increase Focus On Cardiac Surgery And Eventually Pediatrics
November 01 2019 - 8:00AM
CHF Solutions, Inc. (Nasdaq: CHFS), a medical device company
focused on developing, manufacturing and commercializing a
clinically proven solution for diuretic-resistant patients
suffering from fluid overload, announced a sales force realignment
to increase focus on cardiac surgery and eventually pediatrics,
following anticipated clearance from the FDA of its 510(k)
application submitted in September 2019.
“Over the past several months, we have been transitioning our
commercial focus to the acute needs of fluid overloaded patients in
cardiac surgery and other areas of critical care. In addition, we
are preparing to soon bring the life-saving therapy to pediatric
care. As a result of these transitions, we are refocusing our sales
team to better meet the needs of these markets,” said John Erb,
chairman and CEO of CHF Solutions.
“We are refocusing our sales team to better address the faster
growing segment of our business in cardiac surgery and to prepare
for our expected launch in pediatrics. This change in strategy has
necessitated our changing the criteria and experience required for
our account managers,” added Nestor Jaramillo, Chief Commercial
Officer of CHF Solutions. “We understand the structure and profile
of a successful territory and have retained the services of a top
executive search firm to help build out our sales organization with
the sales competencies we need in executing our new
strategies.”
About CHF Solutions
CHF Solutions, Inc. (Nasdaq:CHFS) is a medical device company
dedicated to changing the lives of patients suffering from fluid
overload through science, collaboration, and innovative technology.
The company is focused on developing, manufacturing, and
commercializing the Aquadex FlexFlow® system for ultrafiltration
therapy. 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.
About Aquadex FlexFlow® System
The Aquadex FlexFlow system is a clinically proven therapy that
provides a safe, effective, and predictable method of removing
excess fluid from patients suffering from fluid overload. 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 for extended (longer than 8
hours) ultrafiltration treatment of patients with fluid overload
who have failed diuretic therapy and require hospitalization. The
company has submitted an application to the FDA requesting for
510(k) clearance of the Aquadex FlexFlow system to include
pediatric patients who weigh 20kg or more. All treatments must be
administered by a healthcare provider, under physician
prescription, both of whom having received training in
extracorporeal therapies.
Forward-Looking Statements
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, statements regarding use of the Aquadex Flex Flow
system in cardiac surgery and pediatric patients and the receipt of
FDA clearance for pediatric use. 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,
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, 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.
CONTACTS:
INVESTORS:
Claudia Napal DraytonChief Financial Officer CHF Solutions,
Inc.952-345-4205ir@chf-solutions.com-or- Bret Shapiro Managing
Partner CORE IR 516-222-2560 brets@coreir.com www.coreir.com
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