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. (Nasdaq: SMTI) is a medical technology company that regularly issues news and updates about its surgical, chronic wound and skin-focused business. Company announcements describe a portfolio of surgical tissue repair and advanced wound care products, including CellerateRX® Surgical Activated Collagen® Powder, BIASURGE® Advanced Surgical Solution, FORTIFY TRG® Tissue Repair Graft, FORTIFY FLOWABLE® Extracellular Matrix and several biologic bone and soft tissue matrices.
News releases often cover developments in Sanara’s commercial strategy and product adoption. For example, the company has reported on growth in soft tissue repair product sales driven by increased demand for CellerateRX Surgical and BIASURGE, expansion into additional medical facilities and the development of an independent distribution network in U.S. markets. Updates also include information on contracts and partnerships, such as an Innovative Technology contract from Vizient® Inc. for BIASURGE, which provides Vizient’s healthcare facility customers with access to the product at contracted pricing and pre-negotiated terms.
Sanara’s news flow includes financial result announcements, where it discusses segment performance, revenue trends and the impact of its strategic realignment. The company has reported the discontinuation of its Tissue Health Plus (THP) operations and the classification of THP as discontinued operations, emphasizing a renewed focus on its core surgical business. Management commentary in these releases outlines priorities related to operating efficiency and capital allocation toward surgical products.
In addition, Sanara issues updates on its product pipeline and alliances, such as its exclusive U.S. license and distribution agreement for OsStic™ Synthetic Injectable Structural Bio-Adhesive and related internal fixation technology. Investors and observers can use the SMTI news page to follow product-related announcements, financial disclosures, strategic decisions and conference participation updates that the company provides through press releases.
Sanara MedTech reported strong financial results for Q3 2021, with revenues of $5.8 million, a 35% increase from the previous year. Despite the impact of COVID-19 Delta variant causing elective procedure delays, the company gained new hospital approvals and expanded its sales team to 29 members. However, net losses increased to $2 million due to rising selling, general, and administrative expenses, totaling $6.9 million. The company is optimistic that postponed procedures will eventually be performed. A conference call is set for November 15, 2021.
Sanara MedTech Inc. (NASDAQ: SMTI), based in Fort Worth, Texas, has announced the commercial launch of two innovative products in collaboration with Cook Biotech Inc. These products, FORTIFY TRG™ Tissue Repair Graft and FORTIFY FLOWABLE™ Extracellular Matrix, are designed to enhance surgical and chronic wound care. Both products are FDA 510(k) cleared, with FORTIFY TRG aimed at reinforcing soft tissue and FORTIFY FLOWABLE designed for various wound management applications. The partnership aims to improve patient outcomes while reducing costs.
Sanara MedTech Inc. (NASDAQ: SMTI) announced its third quarter earnings release will occur on November 12, 2021, after market close. A conference call is scheduled for November 15, 2021, at 9:00 a.m. ET. Investors can access the call by dialing 888-506-0062 or via the company's website for a live webcast. The company focuses on advanced wound care solutions and aims to improve patient outcomes through innovative products and telemedicine services. Key areas of focus include biofilm removal and advanced biologics.
Sanara MedTech Inc. (NASDAQ:SMTI), a Fort Worth-based provider of surgical and chronic wound care products, announced its virtual presentation at the 2021 Cantor Virtual Global Healthcare Conference. The presentation is scheduled for September 29, 2021, at 9:20 a.m. ET. Prior to the event, presentation materials will be available on the company's Investor Relations website. Sanara focuses on evidence-based healing solutions, offering products like CellerateRX® and BIAKŌS™ for wound care, while also expanding into telemedicine for consultations.
Sanara MedTech Inc. (NASDAQ: SMTI) has been selected to present at the virtual MicroCap Leadership Summit on September 24, 2021. Executive Chairman Ron Nixon will represent the company among ten selected firms, connecting with over 100 retail and institutional investors globally. Sanara specializes in surgical and chronic wound care products, aiming to improve patient outcomes. The presentation materials will be accessible on the company's website before the event. For further details, visit MicroCapClub.
Sanara MedTech Inc. (NASDAQ:SMTI) reported significant growth in its second quarter results for 2021. Revenues reached $6.28 million, up 112% from the previous year, driven by increased sales of surgical products across more facilities. The company expanded its sales team and formed a strategic partnership with Pixalere Healthcare. Despite a net loss of $1.21 million for the quarter, improvements were noted compared to the prior year. Sanara also acquired assets from Rochal Industries, enhancing its R&D capabilities.
Sanara MedTech Inc. (NASDAQ:SMTI) has announced the release of its second-quarter financial results for 2021, scheduled for August 16, 2021. The findings will be disclosed post-market close, followed by a conference call on August 17, 2021, at 9:00 a.m. ET. The company's focus remains on developing wound and skincare products to enhance patient outcomes. Sanara continues to pursue innovations in telehealth and seeks strategic partnerships to improve healthcare cost-effectiveness.
Sanara MedTech Inc. (NASDAQ: SMTI) announced the acquisition of certain assets from Rochal Industries for approximately $1.0 million, consisting of $0.5 million in stock and $0.5 million in cash. This acquisition will enhance Sanara's wound and skin care technology and includes hiring Rochal's R&D team, intellectual property, and FDA clearances. The company anticipates additional operating expenses of $1.2 to $1.5 million in the first year, potentially offset by future grants and contract revenues. This move is aligned with Sanara's strategy to improve patient outcomes.
Sanara MedTech Inc. (NASDAQ: SMTI) has announced a strategic partnership with Pixalere Healthcare Inc., aimed at enhancing wound and skin care solutions. As part of the deal, Sanara acquired a 27.3% equity stake in Pixalere and has established a subsidiary, Pixalere USA, with exclusive rights to utilize Pixalere's software in the U.S. market. The integration of Pixalere's technology and Sanara's WounDerm platform is expected to improve patient care by providing advanced decision support and analytics to healthcare providers.
Sanara MedTech Inc. (NASDAQ: SMTI) reported a 42% revenue increase in Q1 2021, generating $5,009,436 compared to $3,524,331 in Q1 2020. Despite a January sales slowdown due to COVID-19, the company rebounded with record sales in March, exceeding $2 million for the first time. Notable highlights include the successful closing of a $29 million public offering, expansion of surgical product approvals to over 850 facilities, and a 23% growth in chronic wound care product sales. The net loss improved to $1,183,376 from $1,841,012 a year prior.