Welcome to our dedicated page for Sanara Medtech news (Ticker: SMTI), a resource for investors and traders seeking the latest updates and insights on Sanara Medtech stock.
Sanara MedTech Inc. (SMTI) is a leading medical technology company that aims to revolutionize the wound care and skincare markets through innovative solutions. Founded in 1982 and headquartered in Fort Worth, Texas, Sanara MedTech focuses on developing and commercializing technologies that improve clinical outcomes for patients while simultaneously reducing healthcare costs.
The company operates through its subsidiary, Wound Care Innovations, LLC, and offers a range of collagen-based wound care products under the brand name CellerateRX. These products are marketed for treating various types of wounds, including pressure ulcers, diabetic ulcers, surgical wounds, and burns. Available in both gel and powder forms, CellerateRX is designed to serve healthcare providers such as physicians, clinics, and hospitals.
Sanara MedTech's portfolio extends beyond surgical wound care, encompassing a comprehensive suite of chronic wound care products. The company's notable offerings include HYCOL Hydrolyzed Collagen, BIAKOS Skin and Wound Cleanser, and BIAKOS Skin and Wound Gel. These products enable Sanara MedTech to deliver extensive wound and skincare solutions across all care settings, from acute to post-acute environments.
With a strategic focus on transformative technologies, Sanara MedTech holds worldwide licenses for certain proprietary technologies and processes. This positions the company at the forefront of advancing wound care treatment protocols. Recent achievements highlight the company's commitment to innovation and quality, making it a key player in the medical technology landscape.
Sanara MedTech also prioritizes transparent communication with its investors and stakeholders. For the latest updates and developments, the company's investor relations team is readily accessible, ensuring stakeholders are well-informed about performance metrics, ongoing projects, and future prospects.
Overall, Sanara MedTech Inc. continues to set the standard in wound care and skincare solutions, contributing significantly to the healthcare sector by enhancing patient care and operational efficacy.
Sanara MedTech Inc. (NASDAQ: SMTI) has received 510(k) clearance for its BIASURGE™ Advanced Surgical Solution, marking a significant milestone in its growth strategy. This patented composition is designed for mechanical cleansing and removal of debris from wounds, aiming to improve clinical outcomes and reduce healthcare costs. The product is set to be commercially available in late 2023. CEO Zach Fleming highlighted the importance of this clearance as part of the company's efforts to expand its product offerings in the surgical market, emphasizing the capabilities of Sanara's research and development team.
Sanara MedTech Inc (NASDAQ: SMTI) reported its 2022 financial results, achieving a 90% increase in net revenues to $45.8 million compared to $24.1 million in 2021. Key factors include expanding sales of its CellerateRX product line, which was sold in over 700 facilities across 29 states. Sanara generated over $5 million in revenue in a single month for the first time. However, the company reported a net loss of $8.1 million for 2022, slightly higher than $8.0 million in 2021. SG&A expenses rose significantly to $46.0 million, and R&D expenses increased to $3.4 million. Sanara plans further growth through strategic partnerships and product launches.
Sanara MedTech Inc announced the release of its financial results for the quarter and year ended December 31, 2022. The earnings report is scheduled for March 20, 2023, followed by a conference call on March 21, 2023, at 9:00 a.m. ET. The company specializes in medical technologies aimed at enhancing clinical outcomes and lowering healthcare costs in the surgical and wound care sectors. Sanara's product portfolio includes surgical collagen, tissue repair grafts, and advanced biologics. The company emphasizes its commitment to innovation and strategic partnerships in the healthcare market.
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