AirXpanders Provides Update on Strategic Purchasing Agreements with Several Academic Medical Centers

SAN JOSE, California, March 13, 2019 /PRNewswire/ -- AirXpanders, Inc. (ASX: AXP), a medical device company focused on the design, manufacture, sale and distribution of the AeroForm® Tissue Expander System, today provided an update on strategic agreements with prestigious academic medical centers and group purchasing organizations across the United States.

"These purchasing agreements will make the AeroForm Tissue Expander System available to more physicians and women across the US, allowing them greater access to this life changing technology," said Frank Grillo, President and CEO of AirXpanders.  "These agreements will help our clinical partners provide the latest advancement in breast reconstruction by streamlining access to the AeroForm system while laying our foundation for future growth opportunities.  We are very pleased that these groups have chosen to reach agreements with us allowing them to bring this important option to breast cancer survivors and previvors as they undergo 2-stage breast reconstruction."

Included in the agreements are UCLA Health System, UPMC Pinnacle, Henry Ford Health System, the University of Mississippi, and the University of Florida.

"We are pleased to offer the needle-free AeroForm Tissue Expander System to these prestigious institutions," added Melissa Comunale, VP of Sales for AirXpanders.  "The completion of these agreements since we commercialized AeroForm shows a growing commitment from the medical community to adopt this best-in-class option for their patients.  We completed more than a dozen agreements in 2018, and continue to add new agreements as we build on last year's momentum.  For these institutions, the AeroForm System represents a dedication to providing access to healthcare innovation and excellence in patient care and we are excited to partner with them to modernize breast reconstruction and get our patients back to their lives faster."

About AirXpanders

Founded in 2005, AirXpanders, Inc. (www.airxpanders.com) designs, manufactures and markets innovative medical devices to improve breast reconstruction. The Company's AeroForm Tissue Expander System, is used in patients undergoing two-stage breast reconstruction following mastectomy. Headquartered in San Jose, California, AirXpanders' vision is to be the global leader in reconstructive surgery products and to become the standard of care in two-stage breast reconstruction.  AirXpanders is a publicly listed Company on the Australian Securities Exchange under the symbol "AXP." AeroForm was granted U.S. FDA de novo marketing authorization in 2016, subsequent U.S. market clearance in 2017, first CE mark in Europe in 2012, and is currently licensed for sale in Australia.

Forward-Looking Statements

This announcement contains or may contain forward-looking statements that are based on management's beliefs, assumptions and expectations and on information currently available to management.

All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements.  These include, but are not limited to,  the adoption rate of AeroForm, ease of use of AeroForm for physicians, the patient benefits of AeroForm over existing technologies, the potential for AeroForm to become the standard of care, the ability of the Company to control expenses and mange working capital in order to meaningfully reduce cash burn, and anticipated growth of the Company's business and customer adoption rates.

Management believes that these forward-looking statements are reasonable when made. You should not place undue reliance on forward-looking statements because they speak only as of the date when made. AirXpanders may not actually achieve the plans, projections or expectations disclosed in forward-looking statements. Actual results, developments or events could differ materially from those disclosed in the forward-looking statements. For additional information and considerations regarding the risks faced by AirXpanders that could cause actual results to differ materially, see its most recent Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission on October 31, 2018, including under the caption "Risk Factors," as well as other periodic reports filed with the SEC from time to time. AirXpanders disclaims any obligation to update information contained in any forward-looking statement, except as required by law. 

For more information, refer to the Company's website at www.airxpanders.com.

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