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MiMedx Group, Inc. (NASDAQ: MDXG) is a pioneer in the field of advanced wound care and therapeutic biologics. The company specializes in developing and distributing human placental tissue allografts utilizing patent-protected processes. With a cornerstone methodology known as the PURION® Process, MiMedx ensures the production of high-quality allografts via aseptic processing techniques and terminal sterilization.
Having supplied over two million allografts through direct and consignment shipments, MiMedx is a trusted name in the healthcare sector. The company’s product range includes EpiFix for external use and AmnioFix for internal applications, alongside other innovative products such as AmnioCord, AmnioFill, EpiBurn, and EpiCord. Additionally, MiMedx markets allografts for ophthalmic surgery and dental applications through third-party licenses.
MiMedx is dedicated to transforming wound care in sectors like burn treatment, surgical procedures, sports medicine, and orthopedics. By combining its extensive portfolio with strategic initiatives, such as its recent exclusive partnership with Regenity for a 510(k) cleared, bovine-derived collagen matrix, the company aims to enhance its competitive edge and expand its market reach.
Financially, MiMedx has shown impressive growth. For 2023, the company reported net sales of $321 million, reflecting a 20% increase from the previous year. Strategically, new credit facilities have been secured to bolster financial flexibility. The company expects low double-digit net sales growth for 2024 and an adjusted EBITDA margin exceeding 20%.
Despite facing regulatory challenges, such as the FDA’s stance on the AXIOFILL product, MiMedx continues to thrive. The company is actively engaging with the FDA while maintaining the product in the market. This resilience underscores MiMedx’s commitment to compliance and innovation in providing safe and effective products.
The company’s vision is to be the leading global provider of healing solutions through relentless innovation, aiming to restore quality of life for patients. For more information, visit www.mimedx.com.
MIMEDX Group, Inc. (Nasdaq: MDXG) has announced the commercial launch of HELIOGEN™ Fibrillar Collagen Matrix, a particulate xenograft product designed for complex wounds in surgical settings. This shelf-stable offering contains Type I and Type III collagen, mimicking the native composition of structural connective tissue. HELIOGEN marks MIMEDX's first xenograft option and 510(k) cleared product, complementing their existing placental-based solutions in the surgical market.
CEO Joseph H. Capper stated that this launch aligns with the company's strategic initiative to expand its surgical footprint, following the introduction of two new surgical products in late 2022. Eric Smith, SVP of Marketing & International, highlighted HELIOGEN's potential to improve patient outcomes in various surgical settings, backed by initial case studies and real-world evidence.
MIMEDX Group (NASDAQ: MDXG) reported Q2 2024 financial results with net sales of $87 million, up 7% year-over-year. The company achieved GAAP net income of $18 million and Adjusted EBITDA of $20 million (23% of net sales). Key highlights include:
- Launch of HELIOGEN™, a Fibrillar Collagen Matrix and first xenograft product
- Commencement of Randomized Controlled Trial for EPIEFFECT®
- Publication in Nature – Scientific Reports on surgical applications of placental-based allografts
Despite strong results, MIMEDX faced commercial challenges due to competitive behavior in the skin substitute market. The company expects mid-to-high single-digit net sales growth for 2024, with long-term projections of low double-digit growth and Adjusted EBITDA margin above 20%.
MIMEDX Group, Inc. (Nasdaq: MDXG) announced the publication of a peer-reviewed study in Nature – Scientific Reports, focusing on how placental-based allografts may modulate scarring and fibrosis in surgical procedures. The study, titled "Human amniotic membrane modulates collagen production and deposition in vitro," is MIMEDX's first publication in this prestigious journal.
The research evaluated two configurations of PURION processed placental-based allografts: dehydrated human amnion chorion membrane (DHACM) and lyophilized human amnion chorion membrane (LHACM). Both demonstrated modulation of collagen production, deposition, and maturation, supporting the hypothesis that amniotic membranes may interrupt pathological fibrosis and restore tissue homeostasis.
This study adds to MIMEDX's growing body of evidence and expands the understanding of their allografts' regulatory capabilities in the fibrotic process, potentially leading to improved patient outcomes in procedures where pathological fibrosis results in detrimental scarring and dysfunctional tissue.
MIMEDX Group, Inc. (Nasdaq: MDXG) has announced that it will release its second quarter 2024 operating and financial results on Wednesday, July 31, 2024, after the market closes. The company's senior management team will host a webcast and conference call to discuss the results at 4:30 p.m. Eastern Time on the same day.
Investors can access the conference call using the following information:
- U.S. Investors: 877-407-6184
- International Investors: 201-389-0877
- Conference ID: 13747365
MIMEDX has appointed Kim Moller as Chief Commercial Officer (CCO), effective June 26, 2024. Moller, previously Senior Vice President of Sales since August 2020, will now oversee marketing and international commercial operations. CEO Joseph H. Capper praised Moller's leadership in transforming MIMEDX's commercial organization into a high-performing team. Moller brings nearly 30 years of sales leadership experience from reputable firms such as 3M, Acelity, and KCI. She holds a BSN from the University of Phoenix and an MBA from Colorado Christian University.
MiMedx Group (Nasdaq: MDXG) announced participation in two upcoming investor conferences. Senior management will attend the Craig-Hallum 21st Annual Institutional Investor Conference on May 29, 2024, at the Renaissance Minneapolis Hotel in Minneapolis, MN. They will also be present at the Northland Growth Conference 2024 on June 25, which will be held virtually. Investors can arrange meetings with senior management by contacting their respective Craig-Hallum or Northland representatives.
MiMedx Group, Inc. (Nasdaq: MDXG) announced first quarter 2024 results with net sales of $85 million, 18% growth year-over-year, GAAP net income of $9 million, adjusted EBITDA of $19 million, and other notable achievements like portfolio expansion and new directors.
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