NxStage Medical Inc. (NSDQ:NXTM) expanded a supply deal with Renal Advantage Inc. to include an additional 43 dialysis centers RAI acquired from National Renal Alliance.
NxStage Medical Inc.
NxStage Medical Inc. (NSDQ:NXTM) took advantage of favorable interest rates to lock up some more working capital, possibly for future acquisitions.
The Lawrence, Mass.-based portable dialysis maker said it has secured a two-year revolving line of credit for $15 million with Silicon Valley Bank at an interest rate of about 6 percent annually.
NxStage said it would use the debt to “finance working capital needs as the business continues to grow and to seize future opportunities, when they arise,” CFO Robert Brown, said in prepared remarks.
Executives at NxStage Medical Inc. (NSDQ:NXTM) might soon be able to shake the austerity measures they’ve been on for the past year.
On March 5, the compensation committee voted to put pay raises back on the table for 2010, exactly one year after voting to freeze all salary increases for the brass at the Lawrence, Mass.-based portable dialysis maker.
NxStage will start to increase its senior management’s salaries starting April 16, according to a regulatory filing.
Here are the highlights:
NxStage Medical Inc. (NSDQ:NXTM) is touting the latest interim results from a study of its home hemodialysis system showing it helps improve patient’s sleep.
The Lawrence, Mass.-based firm said the most recent data from its Freedom trial, compared with the Medical Outcomes Study sleep survey and the International RLS Study Group Rating Scale, showed that overall sleep quality significantly improved during the first four months on the NxStage System One.
The study also showed improvements in four of the five sleep scale categories (sleep adequacy, drowsiness, sleep initiation and maintenance) and fewer respiratory disturbances, according to a press release.
NxStage Medical Inc. (Nasdaq:NXTM) has a new five-year distribution deal with a Dutch company for its System One portable dialysis device and related supplies.
Under the pact, the privately held Dutch Dirinco Group gains exclusive rights to market System One to dialysis centers in the Netherlands. Dirinco also will make the device available to critical care patients and has the option to sell NxStage Medisystems buttonhole needles throughout the region.
NxStage Medical Inc. saw impressive gains in its home- and critical-care businesses during the fourth quarter, helping offset a slight decline in consumables sales and leading the manufacturer of home dialysis equipment to a smaller net loss during the three months ended Dec. 31, 2009, compared with year-ago levels.
NxStage Medical Inc. (NSDQ:NXTM) tapped a Covidien (NYSE:COV) veteran to lead its critical care division.
The Lawrence, Mass.-based home hemodialysis firm named Elise Tordella as its new vice president and general manager of critical care therapies.
Tordella’s commute now shifts to Lawrence from her former digs in Mansfield, Mass., with Covidien, where she spent 18 years. She was most recently vice president of global marketing for patient care; her stint at COV included tenures as U.S. president for the Ludlow division and a variety of marketing, product development and general management positions, according to a press release.
NxStage Medical Inc. (NSDQ:NXTM) inked a five-year deal with Nordic Medcom AB that will see the Swedish firm distribute NxStage’s System One home hemodialysis system in Scandinavia.
Lawrence, Mass.-based NxStage said the terms of the deal includes the exclusive right for Nordic Medcomm to sell the home dialysis system and its PureFlow SL dialysate preparation system to dialysis centers in Sweden, Denmark and Finland. Nordic Medcomm can also choose to sell NxStage’s Medisystems bloodlines and ButtonHole needles.
NxStage Medical Inc. (NSDQ:NXTM) tapped John Mullen to fill its newly created international general manager position.
The Lawrence, Mass.-based home dialysis products maker said Mullen will be its vice president and general manager, international, charged with leading NxStage’s growth initiatives overseas.