PAXMAN announces that the company now has signed delivery agreements in the USA for its leading scalp cooling system with all of the five highest-ranked cancer treatment centers according to U.S. News & World Report’s annual ranking. This important milestone was achieved by an agreement for four systems with the last remaining top-ranked cancer center.
The most recent agreement follows the company’s business model in the USA. This means that PAXMAN receives a fixed sum directly from the patient for every single patient who uses the cooling cap and cooling system. This successful business model, which PAXMAN is now also using in other parts of the world, minimizes the initial costs for the healthcare provider while also allowing the company to build a strong and sustainable cash flow.
PAXMAN’s CEO, Richard Paxman says:
"We are pleased and honoured that all of the five highest-ranked cancer centres in the USA now offer PAXMAN scalp cooling to its patients. This is an incredible achievement, a milestone reached less than a year after our FDA clearance in April 2017. There is no doubt that we are now the leading supplier of scalp cooling systems to minimize chemotherapy-induced hair loss. Our success in the US market, which is key to our global expansion, is also testimony to the growing understanding of the importance of scalp cooling as a way of improving quality of life and giving the patients increased control during chemotherapy treatment."
The PAXMAN Scalp Cooling System received market clearance from the FDA in April 2017, for use during chemotherapy treatment for breast cancer. The company expects to reach its initial target set for the US market – a total of 250 scalp cooling systems that are either installed or covered by signed delivery agreements – during the first year after the company’s FDA clearance. PAXMAN has also filed an application with the FDA for use of its scalp cooling system during the treatment of patients with solid tumors. The expanded FDA clearance will substantially increase PAXMAN’s accessible market in the US.