RIVER EDGE, N.J., Jan. 14 /PRNewswire-FirstCall/ -- Nephros, Inc. (Amex: NEP), is pleased to announce that it has received the prestigious 2009 Frost & Sullivan Medical Device Patient Care Company of the Year Award, for its rapid growth, progressive technology, and strategic product development.
Nephros was recognized for its ability to develop products that meet market demands. Nephros's breakthrough hemodiafiltration technology has resulted in rapid revenue growth as well as a new therapy for end-stage renal disease (ESRD). Its OLpur(TM) H2H(TM) Module and MD 220 filter received approval under an investigational device exemption (IDE) from the FDA in January 2007. By October, clinical trials were initiated at the
With the hemodialyzer market in the U.S. estimated at nearly $214 million in 2007, Nephros is positioned to generate returns in a maturing industry by offering a unique product supported by numerous scientific studies and clinical trials. While the therapy is pending approval in the U.S., it has already generated revenues in Europe, showing steady growth. Finally, through the leveraging of a platform modality and corporate restructuring, Nephros has taken steps to expand its user base and revenue growth.
Nephros was also recognized by Frost & Sullivan for finding applications of its core technology in other markets. While the company is actively pursuing approval for its online hemodiafiltration therapy, the technology has also found two immediate applications in water purification. With multiple reported outbreaks and deaths due to Legionnaire's disease this past year in institutional facili
|SOURCE Nephros, Inc.|
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