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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. (MDXG) will sponsor a lunch symposium at the Symposium on Advanced Wound Care from April 6-10, 2022, in Phoenix, Arizona. The symposium will showcase data on the effectiveness of EPIFIX in treating chronic wounds, emphasizing its role in reducing amputations in diabetic ulcers. The company will also present three poster abstracts on its PURION® processed allografts. These efforts aim to improve treatment standards for diabetic ulcer patients and highlight the cost-effectiveness of advanced wound care strategies.
On March 16, 2022, WoundGenex announced a strategic partnership with MiMedx Group (Nasdaq: MDXG) to launch the exclusive Premier Graft Program. This initiative aims to provide clinicians across the U.S. access to leading allograft products without upfront costs. WoundGenex will facilitate product ordering and streamline reimbursement processes for providers. MiMedx's EPIFIX® is covered by national commercial payors for diabetic foot ulcers, affecting over 300 million covered lives. This collaboration is expected to enhance access to advanced wound care solutions for patients.
Marietta, Ga. - March 15, 2022 - MiMedx Group (Nasdaq: MDXG) announced that CEO Timothy R. Wright and CFO Peter M. Carlson will present at the Canaccord Genuity Musculoskeletal Conference in Chicago on March 22 at 10:30 AM CDT. Institutional investors interested in meeting the management can contact their Canaccord Genuity representative. A live webcast will be available on the Company’s website and a replay will be accessible for 30 days post-event. MiMedx specializes in placental biologics, addressing acute and chronic wounds as well as musculoskeletal conditions.
MiMedx Group (MDXG) reported fourth quarter net sales of $67.4 million, slightly down from $68.5 million in 2020. For the full year, net sales reached $258.6 million, reflecting a 7.1% increase year-over-year. The company's Advanced Wound Care products saw a 15% growth in 2021. However, the net loss for the year was $10.3 million, improved from $49.3 million in 2020. Looking ahead, MiMedx expects a sales growth of 11% to 14% in 2022 and plans to initiate a Phase 3 clinical trial for knee osteoarthritis.
MiMedx Group, Inc. (MDXG) announced a peer-reviewed study showing the cost-effectiveness of its PURION® processed DHACM allografts in treating lower extremity diabetic ulcers. Analyzing 1.2 million Medicare patients, the study found that DHACM reduced amputations and healthcare costs, saving $3,670 per patient in the first year and providing an additional 0.013 quality-adjusted life years. The findings suggest significant potential savings of nearly $22 million annually for a one-million-person plan, highlighting the economic benefits for patients and healthcare systems.
MiMedx Group, Inc. (MDXG) will release its financial results for Q4 2021 on February 28, 2022, after market close. A webcast and conference call will follow at 5:00 p.m. ET for management to discuss these results. The company specializes in placental biologics, providing allografts for treating acute and chronic wounds, and has a strong pipeline for musculoskeletal conditions. With over 2 million allografts supplied, MiMedx focuses on innovative healthcare solutions.
MiMedx Group, Inc. (MDXG) has launched a pivotal Phase 3 clinical study program for its micronized dehydrated Human Amnion Chorion Membrane (mdHACM) targeting knee osteoarthritis (KOA) with a potential commercial launch in late 2026. The company aims for double-digit growth in 2022, driven by treatment transformations and global expansion, including the mid-2022 launch of EPIFIX® in Japan. The 2022 outlook includes a revenue growth target of 11%-14% and an increase in R&D spending from $17 million to $22 million, despite a slight dip in gross margins due to competitive dynamics.
Mariotta, Ga. - January 4, 2022 - MiMedx Group, Inc. (Nasdaq: MDXG) announced participation in the H.C. Wainwright BioConnect Virtual Conference from January 10-13, 2022. CEO Timothy R. Wright, CFO Peter M. Carlson, and EVP Robert B. Stein will engage in a pre-recorded fireside chat available on the company's website starting January 10 at 7:00 AM ET. MiMedx specializes in placental biologics, providing allografts for treating non-healing wounds and musculoskeletal conditions, utilizing proprietary methods to ensure quality and efficacy.
MARIETTA, Ga., Dec. 22, 2021 – MiMedx Group, Inc. (Nasdaq: MDXG) announced that CEO Timothy R. Wright and CFO Peter M. Carlson will present at the 40th Annual J.P. Morgan Healthcare Conference on January 12 at 5:15 PM EST. Institutional investors can schedule virtual meetings with management through their J.P. Morgan representatives. A live webcast will be available on the Company’s website, with a replay accessible for 30 days post-presentation. MiMedx is a leader in placental biologics, focusing on non-healing wounds and musculoskeletal conditions.
MIMEDX Group, Inc. (MDXG) announced key insights during its virtual Investor Day, focusing on its KOA clinical program and robust commercial growth potential. The company anticipates initiating Phase 3 trials for its Knee Osteoarthritis candidate in 2022, with a Biologics License Application expected by late 2025. MIMEDX raised its adjusted net sales outlook for 2021 to $253-$258 million, surpassing previous estimates. The company's commercial strategy targets sustainable growth of 11-14% in several underpenetrated markets, driven by product innovation and global expansion initiatives.
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