Rockwell Medical acquires hemodialysis concentrates business from Evoqua Water

Rockwell Medical acquired the hemodialysis concentrates business from Evoqua Water Technologies for $11M up front in cash plus two milestone payments of $2.5M each at 12- and 24-months from the closing of the transaction. Rockwell Medical purchased this business through its cash balance. At closing of the transaction, Rockwell Medical had approximately $15.3M in cash and cash equivalents. Evoqua’s concentrates business 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. Evoqua’s operations are fully automated and afford Rockwell the opportunity to manufacture its hemodialysis concentrates products at a lower cost and add capacity to the company’s production line. The business generates approximately $18M in annual revenue and will add over $3.3M in annual EBITDA for Rockwell Medical.