Nuwellis, Inc. (NASDAQ:NUWE) Q4 2022 Earnings Call Transcript

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Anthony Vendetti: Okay. And you said the expected time line for the REVERSE-HF study is — can you just review that again?

Nestor Jaramillo: Yes. We have — our goal for this quarter, first quarter of 2023, is to have 12 sites activated. We are at nine right now. So we have communicated in the past that we expect enrollment to be about two years before we close the enrollment and start the statistical analysis.

Anthony Vendetti: Okay. So the other three sites you expect by the end of March?

Nestor Jaramillo: A precise number of sites? Yes,12 sites.

Anthony Vendetti: Okay. Great. In about two years. Okay. Those are my questions. I’ll hop back in the queue. Thanks.

Nestor Jaramillo: Thank you.

Operator: Thank you. Next question will be from Brooks O’Neil, Lake Street Capital Markets. Please go ahead.

Brooks O’Neil: Good morning, everyone. Very nice momentum in Q4. I’m just curious if you would see any evidence of continuing momentum as we have entered into 2023?

Nestor Jaramillo: Yes. In the past, we don’t give guidelines, Brooks, as you know. But yes, we’re very confident that we’re going to have a good quarter in Q1.

Lynn Blake: And I think the fact that Brooks, we mentioned that we now have fully staffed and filled all key positions in the field. We have a new RVP, critical CES position starting the year. And we didn’t start the quarter that way. So it’s a good start to the year from a commercial team perspective as well.

Brooks O’Neil: Great. And then I just sit here in a little bit of amazement thinking about the reality that hospitals are penalized for readmissions, and we know that CHF is one of the key areas in which readmissions are pretty common. And just curious how you sense the customer base, doctors and hospitals view using Aquadex as a way to both provide superior care to patients and prevent readmissions. Is there any sense you have of growing awareness that this is a win-win-win situation for the hospital, for the doctors, for the patients, sort of for everybody?

Nestor Jaramillo: Great. That’s right, Brooks. We just finished our national sales meeting about two weeks ago. And in that meeting, we did nothing but to train the sales organization on the economics of the cost of treating heart failure and the potential savings that we can provide hospitals and the health care system in terms of saving money due to the prevention of unreimbursed readmissions within 30 days. And in the past, we have not had the clinical evidence to prove and to show that in Aquadex can save — can reduce the number of hospitalizations and the readmission rate. Now that we have that information in the last 7 months, now we can aggressively talk about what are the economics of the hospital. And we have all that information because it’s public information. We know exactly the readmission rates by hospital and we can provide an actual financial number showing the savings in number of dollars.

Brooks O’Neil: Pretty powerful. That’s great with the drug sales organization and all this information, I’m pretty excited about the outlook for you guys this year. So good luck. I hope that plays out.

Lynn Blake: Thank you. We are as well, Brooks.

Operator: Thank you. This concludes the question-and-answer session. I’d like to turn the conference back over to Mr. Nestor Jaramillo for closing remarks.

Nestor Jaramillo: Thank you, operator. I would like to conclude by thanking all of our stakeholders, Nuwellis employees, stockholders, physicians, the nurses, the patients and the health care workers in the field. Without your support, we would not have been able to achieve key advances in transforming the lives of patients suffering from fluid overload. So thank you for your participation and support. Have a nice day.

Operator: This call is now concluded. Thank you for attending today’s presentation. You may now disconnect.

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