Daxor Corporation CEO and President Michael Feldschuh Provides Corporate Update in Letter to Shareholders

Oak Ridge, TN, Aug. 28, 2023 (GLOBE NEWSWIRE) -- Daxor Corporation (Nasdaq: DXR), the global leader in blood volume measurement technology, today issued a corporate update in a Letter to Shareholders filed in its six-month shareholder report on Form N-CSR on August 28, 2023 from CEO and President, Michael Feldschuh.

Dear Fellow Shareholders:

There are rare times in a business when multiple efforts converge leading to opportunity that is greater than the sum of its parts. For Daxor, now is just such a time. The company is focused on profoundly improving outcomes for tens of millions of patients as well as the hospital systems and the payers which support the system by solving a central problem of medicine – providing highly accurate, convenient, and rapid knowledge of patient blood volume. Managing blood volume is the cornerstone of care for some of the largest areas of patient care – heart failure, sepsis, post-surgical blood loss and syncope to cite a few, but this urgent medical need has been hampered by using surrogate markers, not direct measurement, of the blood volume. Many of these markers are costly, some are invasive, and none are accurate – in contrast to Daxor’s 98% accurate system. Care teams cannot effectively treat what they do not correctly diagnose, so a rapid accurate diagnostic is a game-changer. Every metric that matters is impacted from this first principle of accurate diagnosis – patients receiving optimal care are treated more quickly with better outcomes, have shorter lengths of stay in the hospital, suffer fewer costly readmissions, and have lower mortality and fewer complications in the long run. This leads to better results for patients, hospitals, and insurers on both a health and economic level.

So, what is the convergence of efforts that has Daxor Management so excited? A new portable point-of-care analyzer capable of giving blood volume results in as little as 15 minutes at the patient bedside to replace the lab-based BVA-100 (Blood Volume Analyzer) in current use, compelling new clinical and health economic outcomes, additional funding from the U.S. Department of Defense (DoD) and National Institutes of Health (NIH) for further technology development and clinical trials, and partnerships with medical societies and key opinion leaders to shape the discourse and guidelines on the need for direct blood volume analysis to become the standard of care. These efforts are happening as Daxor continues to expand its commercial adoption among leading academic medical centers with innovations such as our new reference lab service and growth of our intellectual property (IP) portfolio with more than half a dozen patents pending. It is the convergence of these efforts leading to the growing awareness that one of the thorniest problems in medicine has a new solution which is a paradigm shift benefiting all parts of the healthcare system.