Rockwell Medical makes and sells hemodialysis concentrates — the chemical solutions dialysis machines use to clean the blood of patients with end-stage kidney disease. During a dialysis treatment, a machine dilutes Rockwell's concentrated solutions with purified water to create dialysate, which removes toxins and waste from a patient's blood. Rockwell's core products include acid concentrates and bicarbonate concentrates in liquid, dry powder, and cartridge formats. Rockwell sells to dialysis clinics, hospitals, skilled nursing facilities, and home dialysis providers, and its 294 customers include all five of the largest U.S. dialysis chains. Rockwell delivers most products using its own trucking subsidiary. Because dialysis is a life-sustaining treatment administered multiple times per week, demand for concentrates is highly recurring and non-discretionary, and over 80% of Rockwell's customers are under long-term contracts with volume minimums. Revenue is driven by patient volumes, concentrate consumed per treatment, product mix, and pricing. Gross margins are influenced by product mix — newer formats like bicarbonate cartridges carry higher margins than standard liquid concentrates — as well as manufacturing efficiency and distribution costs. Rockwell operates two manufacturing facilities in Michigan and Texas, having consolidated from four. International sales, primarily to Latin American and Pacific Rim distributors, represent roughly 12% of revenue and carry attractive margins since foreign distributors handle their own logistics. Growth priorities include expanding in the western U.S., scaling its newly launched bicarbonate cartridge product, growing in the home dialysis market, and pursuing M&A.