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NxStage Medical hopes to have 3,000 patients using in-home dialysis therapy by end of '07
By Jennifer Lanning Drey
Eugene, Ore., June 29 - NxStage Medical, Inc. hopes to have 3,000 patients from 500 dialysis centers using its System One home-based hemodialysis therapy system by the end of 2007, said David Gill, chief financial officer of NxStage, at the 26th Annual William Blair & Co. Growth Stock Conference on Thursday.
"Over time, as we grow our network, and if we have, say, 500 centers by the end of next year, we should be in the neighborhood of 90% of the patient population, Gill said Thursday.
NxStage System One was approved by the Food and Drug Administration in June 2005 for patients with end-stage renal disease.
The system is portable and plugs into standard electrical outlets.
The company believes it meets a large, unmet need for home-based dialysis products for end-stage renal patients.
There are 4,500 dialysis centers is the United States, and 1,800 of them currently provide home dialysis programs, Gill said.
"Clearly our early targets are those centers that have active home programs," Gill said
The company markets and sells its in-home hemodialysis product through dialysis centers, which in turn recruit patients, Gill said.
"Centers are understanding that they can use this as a weapon to attract patients," Gill said.
NxStage said there are about 400,000 end-stage renal disease patients in the United States and about 330,000 of them are currently on dialysis.
"We feel very good about the overall opportunity and our ability to penetrate that over time," he said.
The company also said hemodialysis is the most widely prescribed type of therapy for chronic kidney failure patients.
NxStage, headquartered in Lawrence, Mass., develops, manufactures and markets systems for the treatment of end-stage renal disease and acute kidney failure.
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