Rockwell Medical to Buy Vantive Hemodialysis Assets for $125 Million

Rockwell Medical announced (RMTI ) on November 3, 2026 that it had agreed to acquire most of Vantive’s hemodialysis assets and associated operations for an aggregate base purchase price of $125 million. Vantive is providing the acquisition financing for a transaction that would broaden Rockwell’s product, service and manufacturing operations and give it a production campus in Italy.

The base price is subject to customary adjustments and will be financed through two $50 million term loans from Vantive plus a $25 million convertible note issued to Vantive. That makes Vantive both the seller and the financing provider for the base consideration. The note’s initial conversion price will equal a 100% premium to the 15-day volume-weighted average price of Rockwell’s common stock, as determined under the transaction documents. Vantive may also receive up to $45 million of additional consideration tied to specified revenue and EBITDA milestones.

The acquired business includes hemodialysis concentrates, machines including the AK-98, water-treatment systems, and related consumables and technical services. The transaction also covers Vantive’s manufacturing campus in Medolla, Italy. Rockwell described the site as fully automated and spanning more than one million square feet, or 93,000 square meters. It currently produces dry-concentrate cartridges, hemodialysis machines, related parts and consumables, and water-treatment systems that support the broader hemodialysis product portfolio.

Rockwell estimated that the combined business could generate annual revenue of $400 million to $450 million. The projection uses current assumptions about operational performance, foreign-exchange rates, market conditions and successful integration; it is not reported historical combined revenue. Chief executive Mark Strobeck said the transaction could accelerate growth by adding “meaningful product breadth, global distribution, manufacturing and R&D infrastructure, technical service capabilities and recurring revenue streams that would take years to build organically.”

Rockwell also withdrew its previously issued 2026 guidance for net sales, gross margin, adjusted EBITDA, a non-GAAP measure, and operating cash flow. It attributed the withdrawal to projected transaction-related and financing-related expenses associated with the proposed acquisition. The guidance change therefore precedes any contribution from the acquired operations, which would be reflected in Rockwell’s financial results only after closing.

For Vantive, the divestiture is not a complete exit from hemodialysis products. Its announcement excludes the dialyzer portfolio, including the Theranova dialyzer used for HDx, or expanded hemodialysis, therapy. Vantive will instead prioritize investment around home dialysis and critical-care intervention, including support for chronic kidney disease patients receiving therapy at home and organ-failure care in intensive-care settings.

Vantive chief executive Chris Toth said the companies would work together through the transition to support continuity of care and reliable access to products, services and support.

The companies expect the transaction to close in mid-2027, subject to required regulatory approvals and satisfaction or waiver of the other closing conditions. Ownership of the Medolla facility will transfer only when the transaction is completed.

Rockwell is using seller financing to take on a broader international operating platform, while Vantive is narrowing its portfolio around home and critical care. The projected scale remains separated from Rockwell’s reported results by regulatory review, the remaining closing conditions and the work of integrating the acquired operations.