What's Going On With Rockwell Medical (RMTI) Stock

Rockwell Medical Inc RMTI shares are trading lower Tuesday after the company announced the acquisition of the hemodialysis concentrates business from Evoqua Water Technologies.

The deal value includes $11 million upfront in cash plus two milestone payments of $2.5 million each at 12 and 24 months from closing.

Rockwell Medical had approximately $15.3 million in cash and cash equivalents at the transaction's closing.

Under the terms of the agreement, Rockwell Medical acquired Evoqua's concentrates business which includes all contracts, all intellectual property, all FDA 510(k) clearances, and all assets primarily associated with and related to Evoqua's concentrates business nationwide, including liquid and powder bicarbonate and liquid acid.

By assuming responsibility for Evoqua's concentrates customer contracts, Rockwell will further expand its footprint in the U.S. and assume a larger market share of the already growing hemodialysis concentrates market. 

Additionally, the company will be one of the leading suppliers of liquid bicarbonate products to dialysis centers in the U.S.

Rockwell Medical has also increased its FY23 revenue guidance to $82 million-$86 million, up from prior guidance of $78 million-$82 million.

Rockwell's session volume of 1.22 million shares traded compared to the trailing 100-day volume of 642.1K.

RMTI Price Action: Rockwell Medical shares are down 10.34% at $5.55 on the last check Tuesday. According to data from Benzinga Pro, RMTI has a 52-week high of $6.24 and a 52-week low of $0.84.