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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.
Marietta, Ga., April 18, 2023 (GLOBE NEWSWIRE) -- MiMedx Group, a leader in placental biologics, announced it will report its first-quarter financial results for the period ending March 31, 2023, on May 2, 2023, after market close. A conference call and webcast to discuss these results will follow at 5:00 p.m. Eastern Time. Investors can access the call through U.S. and international lines provided in the announcement. A replay will be available on the company’s website for 30 days post-event. MiMedx focuses on developing placental tissue allografts and has supplied over two million products to address clinical needs in advanced wound care and surgical recovery. The company is also advancing a late-stage pipeline targeting pain reduction and improved function for knee osteoarthritis patients.
MiMedx Group (Nasdaq: MDXG) announced the departure of CFO Peter M. Carlson on March 23, 2023, as he pursues other opportunities. The company has initiated a search for a new CFO, with Carlson assisting during the transition. His tenure at MiMedx significantly improved the company's finance and accounting, helping to raise debt and equity while avoiding delisting. MiMedx specializes in placental biologics, providing allografts for advanced wound care and surgical recovery. The company is committed to addressing unmet clinical needs and has delivered over two million allografts.
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