Sanara Medtech Inc - SMTI STOCK NEWS

Sanara MedTech Inc. reported record revenues of $13.0 million for Q3 2022, a 124% increase year-over-year, driven by the acquisition of Scendia Biologics. The company integrated Scendia and formed a new partnership with InfuSystem to enhance chronic wound care solutions. Despite increased revenues, the company faced a net loss of $1.5 million in Q3, attributed to elevated SG&A and R&D expenses. Gross margins decreased to approximately 87% from 91% due to lower margins on Scendia products. Total revenues for the nine months reached $30.5 million, up 78%.

Sanara MedTech and InfuSystem Holdings have formed a partnership, SI Wound Care, LLC, to enhance wound care solutions aimed at improving patient outcomes, reducing care costs, and increasing satisfaction. This collaboration will allow InfuSystem to provide Sanara's advanced wound care products alongside existing negative pressure wound therapy (NPWT) offerings. Both companies will leverage their strengths: Sanara’s wound care expertise and InfuSystem’s extensive distribution network covering over 95% of the U.S. population.

InfuSystem Holdings (INFU) and Sanara MedTech (SMTI) have formed a partnership called SI Wound Care to enhance wound care solutions. This collaboration aims to improve patient outcomes, reduce healthcare costs, and increase satisfaction for both patients and providers. InfuSystem plans to leverage its extensive distribution network as a participating in-network provider for over 95% of the U.S. population. The partnership will include Cork Medical’s negative pressure wound therapy devices and Sanara’s advanced product line, targeting both chronic and acute wounds.

Sanara MedTech Inc (NASDAQ: SMTI), located in Fort Worth, Texas, announced the release of its quarterly earnings results for the period ending September 30, 2022. The earnings will be disclosed on November 14, 2022, followed by a conference call on November 15, 2022, at 9:00 a.m. Eastern Time. Investors can access the call via phone or through a live webcast. Sanara focuses on advanced wound care and surgical tissue repair, aiming to enhance patient outcomes.

Sanara MedTech Inc (NASDAQ: SMTI) will present at the 7th annual MicroCap Leadership Summit on September 16, 2022. CEO Zach Fleming will represent the company at this virtual event attended by over 150 investors globally. Sanara was chosen as one of twelve presenting companies, highlighting its focus on improving patient outcomes through advanced wound and skincare solutions. The company offers a range of products utilized in surgical and chronic wound care, and continues to pursue innovations in healthcare technologies.

Sanara MedTech Inc. (NASDAQ: SMTI) reported strong financial results for the second quarter of 2022, achieving net revenues of $9.7 million, a 54% increase from the same quarter last year. The company generated over $3 million in sales each month, a first for them. Strategic highlights included an increase in facilities selling their product CellerateRX to 1,580. However, the company also recorded a net loss of $3.3 million, up from a $1.2 million loss a year earlier, primarily due to higher SG&A and R&D expenses.

Sanara MedTech Inc (NASDAQ: SMTI) announced the release of its second-quarter earnings for the period ending June 30, 2022. The earnings report will be issued on August 15, 2022, post-market close, followed by a conference call on August 16 at 9:00 a.m. ET. The call will be accessible via phone and live webcast. Sanara specializes in wound care and surgical products, focusing on improving patient outcomes through innovation and strategic partnerships. The company is dedicated to expanding its product pipeline, emphasizing advanced healing solutions.

Sanara MedTech announced the successful acquisition of Scendia Biologics, closed on July 1, 2022, for $7.4 million, comprising $1.4 million cash and $6.0 million in stock. Scendia, previously a sub-distributor and partner, had 2021 revenues of $8.3 million. The acquisition aims to enhance Sanara's product offerings, expand partnerships with health systems, and is expected to positively impact earnings per share in Q3 2022.

Sanara MedTech reported its financial results for Q1 2022, achieving a record revenue of $7.8 million, up 56% YoY. The company noted significant operational achievements, including generating over $3 million in sales within a single month and expanding its distribution network to approximately 1,250 facilities. The first quarter also marked the completion of the acquisition of Precision Healing. However, Sanara recorded a net loss of $3.2 million, attributed primarily to increased selling, general, and administrative expenses.