NEW YORK, NY--(Marketwired - Feb 1, 2017) - Daxor Corporation (NYSE MKT: DXR), an investment company with medical instrumentation and biotechnology operations, sadly announced today the death of the Company's founder and its first President and Chief Executive Officer, Dr. Joseph Feldschuh. Dr. Feldschuh, who was working on a part-time basis and responding well to treatment for pancreatic cancer, had unexpectedly developed sepsis during the preceding two days and died during the afternoon of January 31. He was eighty-one years old.
During a lifetime of groundbreaking research and clinical practice across fertility and cardiovascular medicine, Dr. Feldschuh saved many thousands of patient lives. Notably, he established the first consistently highly accurate methodology for predictive blood volume norming, developed the blood volume analysis (BVA) diagnostic, and invented the Daxor BVA-100 device to perform it. The diagnostic technology Dr. Feldschuh conceived and realized enables clinicians to precisely measure a patient's excess or deficit in total blood volume and in red blood cell volume, making it possible for the first time to individualize fluid and red blood cell management according to the needs of the patient. Clinical results in heart failure and critical care, both settings in which volume derangement is a core underlying pathology and in which high heterogeneity in volume status has recently been established by research utilizing this uniquely accurate metric, have made it clear that individualized care guided by BVA can dramatically improve mortality rates and other outcomes compared with conventional approaches.
Said Michael Feldschuh, the current President and CEO of Daxor, "With great sadness, I announce today the passing of Dr. Joseph Feldschuh, the previous CEO of Daxor and inventor of BVA. My father's early and visionary understanding of the potential of accurate volume measurement to individualize care in order to improve outcomes made him a tireless advocate all his life for rationalizing patient care. His uncompromising commitment and drive for excellence enabled him not only to identify the medical need to develop the unique, life-saving technology of BVA, but also to establish it in clinical usage at over 65 hospitals, including many of the most respected institutions in the United States. I know that his legacy will be long remembered."
Lisa Quartley, SVP of Marketing and Commercial Development at Daxor, added, "We mourn Dr. Feldschuh's passing and extend our deep condolences to Michael, to [Chief Technology Officer] Jonathan, and to the rest of the family, as well as to all of Daxor. Dr. Feldschuh was incredibly proud of this company and its work. He will be very much missed."
While the transition process as regards the Chief Medical Officer role was ongoing at the time of Dr. Feldschuh's sudden death, the Company projects no significant functional difficulties arising from the transition process and expresses high confidence in the necessary expertise and resources to meet all foreseeable future needs. As before, Michael Feldschuh continues in the President and Chief Executive Officer role.
BVA is the only metric enabling clinicians to measure total blood volume directly and with 98% accuracy as well as to deliver consistent accuracy in quantifying RBCV status, regardless of plasma expansion or depletion or patient body size and type. Clinical signs and symptoms alone are well understood to be inadequately sensitive and specific in the evaluation of volume status; indirect metrics such as hemodynamic pressures, while informative in other respects, demonstrate poor correlation with measured total blood volume; and serum RBC measures are confounded by plasma derangement and thus have limited clinical utility in patients with expanded or depleted volume. BVA is uniquely direct, swift, and accurate in measuring both total blood volume and RBCV.
Daxor Corporation manufactures and markets the BVA-100 Blood Volume Analyzer, which is used in conjunction with Volumex, Daxor's single-use diagnostic kit. For more information regarding BVA and the Daxor BVA-100, visit Daxor's website at www.Daxor.com.