you, Thank today joining webcast. morning, third for conference and and for you thank quarter Heather. us XXXX call Rockwell Good results Medical's everyone,
would third through walking by our the at quarter important here discuss begin those results, our Rockwell rationale I we like changes to Before you changes. for and
Rockwell's and in After our maximizes business, and the been We company environment, constricting inflation rising has identify macroeconomic Rockwell, this value for which for of our including I underwent what stockholders. of joined forward evaluation the and built July going markets. interest capital extensive year, employed to leverages Rockwell's management opportunities approach and proposition company's Board XX-year with together the over addressable this ever-changing the value the I, path an rates, team assessment in differentiation, and and market Directors of an right effort forward history our
us and the profitable we and cash, business, believe evaluating are opportunities position are different to a reduce of taking our a business, and reassessing create we that pursue long-term value business profitable. After in can use longer-term once a near- way drive and the approach restructuring
path has which and forward concentrates hemodialysis generator well-positioned for been our a that revenue on primarily determined Rockwell is growth. have efforts We Rockwell's focus for optimal operational and business, the consistent commercial to is
kidney suffering United its market we is approximately who of is approximately to grow When and is from projected that $XXX market a patients States at this is and see the increasing fundamentals, million by million business we valued disease. byproduct concentrates closer of growth the the large a currently look XXXX. number alone at $XXX end-stage in are This to
and suppliers hemodialysis select player States largest in is the as in transportation manufacturing and of clinics United to service States of only Rockwell infrastructure its with second Today, supplier two scalability to came meet is as the over United of and international an market, one supported the X,XXX our concentrates expanding products dialysis in and clinics positions year supplied purchase This has dialysis the concentrates along life-sustaining Rockwell largest this struggled markets. to demands the the and confirmed which large to the of supplier indispensable we and this to them. customers was past Rockwell products, further that
the over out been by of further amplified our I've past getting invaluable customers customers as position need Additionally, me, and months, said who the largest know one you." with our in to market our several to "We meeting was
been to by market our fastest-growing the agreements, and with share add to ability date that portfolio inability our profitability limited market to limited and previous successfully to constraints segments of destiny. our own our associated Rockwell's control adapt the have products Unfortunately new to
making these. significant are progress address each We to of
dialysis The first took within of our amendment companies from world. the a contract million concentrates a investment business year we through earlier largest step DaVita, one to improve in occurred this equity the $XX
inflationary renegotiated to from key we related now and able products One price manufacturing more that way of this into expenses. is takeaways our takes agreement the account increases to a that our appropriately are in distribution
begun have benefits transaction. of already see this the We to
transaction from we The the the exclusive that a inflection rights Baxter point agreement Rockwell and into X hemodialysis for to which our week, announced entered our second of This concentrates ago. step critical concentrates took, was marks we distribution termination years reacquisition last distribution originally products of business.
to our The control to were at say a the business Rockwell. on to worked the itself agreement do these both issue back as the and me partner patients partner. They limitations of good it here a imposed serve. decision had with our for and and take let First, team nothing severe our Rockwell reacquire support we Baxter us with alongside rights
those through and now transaction limitations Rockwell you makes it complete walk wait. me let for not and So sense why this to
more these potential remove gross Rockwell XXX cap the these reacquiring hospitals, including and importantly allows capture of medical on than rights associated to dialysis health more our to business the with profit. assume and of and Rockwell the centers First, systems centers, economics directly customers allows customers
establish customers, to conditions allows transaction are we do. this unable to abroad. United and previously new Second, to to all long-term selling customers selling able the were directly across arrangements, of supply terms us and preferred these we directly which States to and By begin
terminating expansion explore that portion unavailable previously Third, to access us exclusive to concentrates enables was States distribution Westward us. the a in this United agreement hemodialysis of now market the to
care Fourth, new removes Fifth, or prevented broader to manufacturing it the disincentives portfolio. develop which it efficient. in-license around products a process making products able non-compete, from develop, removes us required kidney being our to more
changes. come manufacturing the from processes Now benefit we expenses profitability from and automating those can reduced greater and our that explore will
removes potential that restrictions an it placed on or stress expensive and our activity. covenants investments of future cash position. Sixth, restrictive on unnecessary in a Seventh, acquisition or merger limitations number strategic Rockwell it removes any
the position. attractive were terms this purchase of impact and price the our cash Finally, a will acquisition have on minimal
can do right us to for the this you this was deal time. As at see,
completed for We to concentrates our transaction are this hemodialysis excited believe and significant business. have step this forward is another
working and serve. commercial Baxter Rockwell to hemodialysis to of will relationship many this we will is Since be XXX% transition be Our this a that clinics to actively Rockwell, continue patients their will business life-sustaining these have retain hemodialysis improved with get customers seamlessly help straightforward, and profitability. able transition drive of concentrates and to ensure they products to customers the with team our business to we already believe
week's announcement, profitability our last we and concentrates hemodialysis in business. enhance grow Following to plan
in our announce is coming commercial in new Our quarters. States the new position team and be that customers already and products United will abroad, to Rockwell actively we to the marketing believe customers a we in
and To date, Rockwell's has supplying hemodialysis Northeast, been South business focused on concentrates Midwest. the throughout clinics
us and to full plan are do this For a about market to the say concentrates the expand States, opportunity of at ways number to Currently, have we more this in future. Rockwell in the access United needs to West. to looking
we In addition, at products looking hemodialysis portfolio. our to grow ways are
of some We We future. of about market. of take the to have identified to in-house capabilities segments potential the robust these develop fastest-growing more address that opportunities can our hemodialysis new advantage new and say which hope the the in have we concentrates product have and manufacturing to candidates,
undertaken automation. profitability, enhance profitability. improvement of we for topic initiatives number On the Rockwell's Today, a is of ripe and for have ripe manufacturing process Rockwell's to is
new production facilities Texas, output improves and begun at in lowers Michigan South that to We in costs. our manufacturing equipment our already have our and three Carolina invest
overall to We could and will achieve facilities With our to in invest the all reduce revenue continue made improvements our XXXX. annual million we achieve in have concentrates in Rockwell growth the years expenses. business we the hemodialysis our we and and of additional outlined, improve with to believe that in profitability coming initiatives business $XXX performance order concentrates
a and that market very an struggled generated amount we turn Now our adoption. a limited cost examined was When marketplace launched significant Triferic for to into to commercial Rockwell let well-entrenched Triferic improved with me Rockwell, gain maintain. revenue to product products, business, we competitive saw of capital Triferic.
account to Taking services PDUFA annually into million and support in of manufacturing fees, Rockwell products approximately pharmaceutical United was $X services, in Triferic. the maintain losing to other supply million States, requirements required $X registered
United difficult information to to decision acquire with spoke development and to effort the made discontinue which find forward. going year About a this this have product. were in team license that a in area, the major initiated Rockwell the more It willing this or to saving ultimately both significant activities Despite States and identify expense, money eliminate therapeutic we this suited States. to big we a a partner ago, the is United Rockwell through the Triferic business to partner in player unable we small, for every commercialize product
from commercialize for the Rockwell U.S. have find physician's landscape than and has here potential revenue opportunity from very anemia. and respective different six States in operational Triferic offer and for and iron company. near United generate Triferic and and outside countries. the international to long-term toolbox partnerships their deficiency to are who partnerships international place regulatory the resource treat in looking suffering Rockwell to develop the are a in These companies little with expenditure require The patients capital to the commercial the
keeping South quarter progress have In market associated of adoption are and launched during revenue Korea GEO's and Triferic XXXX, Triferic's fact, of the third the begun agreements. their Pharmaceutical impact of we to already and and GEO in see supply actively license track with
from is in expect in study early XXXX. Biopharmaceuticals and its to out In Phase carrying III addition, still results study China, Wanbang hear the this we
maximizes this resource to approach States. little us United potential product the this unnecessary from with loss with associated Triferic in believe further Overall, expenditure allows reduce our Rockwell we and the revenue with
drops More directly partnerships generated bottom these importantly, line. revenue to from our
programs, On let FPC Home development our me Infusion. for address first
support During microbiology new application. drug stability conducted Preliminary FDA and study in quarter FPC for to microbiology from Rockwell accordance company's from guidance Home results with to would a short-term investigational Infusion requirement the study the the meet that II the work XXXX, the third for would support expenditure to this capital additional resources study. short-term and significant indicated FDA's IND and stability application support Phase likely the and program a not the reformulation in require
being for there program with program, attractive Rockwell opportunity this work cash delayed realize through for with put this in many have are would FPC years now completing for and potentially this value on the to from we with position a come, associated Home additional work a further Rockwell's not to development until own associated line commercial work support development expense we time better that Despite resources. hold decided and Infusion to
FDA Rockwell for Failure, appropriate development the Rockwell year the will for profitability. work as And clarifies FPC completed, we meeting this pre-IND towards the plan will this forward conduct with changes we Hopefully, As end Heart the this initiated. once our path of rationale the program. Acute discuss for determine a to for have before
-- on downside potential, focus believe on profitability and forward large going XXXX, capital that we will our to our our pharmaceutical base reduce focus which its can addressable on our growing grow efforts concentrates partnerships, Rockwell if the allow to overall cash within while our we our market business business our and hemodialysis risk reduce allow maintaining us markets. reduce of drive risk reliance international upside in our all We
be is with make and longer-term, cash appropriately profitability, Once business is valued opportunities. path achieve grow the There more we our we will for that no the can minds higher-value this doubt with in to in type of our public then forward believe we investments this market. right our business Rockwell
the over company of reduce the our prepaid an $X Finally, to debt. into year moves This our next Rockwell additional $XX have of existing third expense of the pay Rockwell we our the profitability. Rockwell of take by loans, improved Medical accelerating and strengthen financial closer an entering to million our loan given outlook, decided leaving finances we with of the long-term million interest agreement, to step debt. goal quarter, its opportunity to offers to amendment Medical's Subsequent its down
end prepayment, and cash in first XX, debt quarter third cash equivalents. million. million equivalents at $XX.X would in cash equivalents to the $XX.X Taking million cash had XXXX Rockwell's $X.X and which million. the the of debt account September the company's have cash quarter been of and as this compared XXXX, This $XX.X of XXXX, Rockwell into of was is and cash
in debt and cash million position. now approximately million a find and $XX $XX.X ourselves much in cash financial equivalents, in With we stronger
and ways continue our will remove for to obligation, We this financial on to business. off overhang look pay this
as saw million second quarter revenue hospitals. volume Now X,XXX clinics third third quarter let's continue Rockwell's our ahead revenue supply highest quarter-to-date. approximately across to our Rockwell was orders was quarter $XX.X XXXX quarter we the and our turn results. our of and to financial consistent which slightly revenue
which In we a that an of along number form disaster devastating a navigated region storm and customers, of have unprecedented Florida addition, in in East Hurricane Coast. in other natural we areas the the impacted a Ian,
proud Rockwell drivers areas navigated determination in water products. around and very those has Rockwell areas This that dangerous conditions commitment on At in patients say our to our its of who am the the rely to significant by very deliveries made storm. and I times, on damage. clinics highlights all impacted delivered that took to
for anticipate which and over represents XXXX. the over of to remainder XXXX, million With to XXXX, forecasted our in we Rockwell revenue believe $XX performance $XX million a increase including can demand up XX% of our the for revenue year revenue
remainder this used cash will first we of a continue for which This the million operating the year. was and result which expenses $X.X Our for year. efforts, of is reduction the the selectively restructuring our significant second a quarter from for represents quarters and of cost-cutting
continue subsequent are grow to pleased to and quarter. effort in foundation. more place in stable third business our a our team Rockwell the our with ever is an Overall, now we to than performance motivated and The more on us efforts financially
turn as the Paul, a call that reduction. Skibsted, I Rockwell's to the Officer, to Financial from part Before Russell Chief was of address over workforce separated I'd like company
led reporting, and by Senior accounting McGarry, internal and Finance financial Rockwell's forward, Going Accounting be Paul Chief Vice related Officer. controls will President,
will turn call Paul? over I Now the to Paul.
