Sanara MedTech Inc. Announces Closing of Merger to Acquire Precision Healing Inc.

Rhea-AI Summary

Sanara MedTech Inc. has completed its merger with Precision Healing Inc., enhancing its product portfolio in surgical and chronic wound care. This strategic acquisition aims to improve patient outcomes and expand Sanara's presence in the North American advanced wound care and surgical tissue repair markets. With a focus on evidence-based healing solutions, Sanara markets products like CellerateRX® and the BIAKŌS™ line, and seeks to drive innovation in telehealth and wound care.

Positive

• Successful merger with Precision Healing to enhance product offerings.
• Expansion into telehealth and wound care markets.
• Focus on evidence-based healing solutions aligns with market demands.

Negative

• Integration challenges with Precision Healing personnel may arise.
• Uncertainty in obtaining regulatory approvals for new products.

FORT WORTH, TX, April 04, 2022 (GLOBE NEWSWIRE) -- Sanara MedTech Inc. (“Sanara,” the “Company,” “we,” “our” or “us”) (NASDAQ: SMTI), a provider of products and technologies for surgical and chronic wound care dedicated to improving patient outcomes, announced today that it has closed the previously announced merger to acquire Precision Healing Inc.

About Sanara MedTech Inc.

With a focus on improving patient outcomes through evidence-based healing solutions, Sanara MedTech Inc. markets, distributes and develops wound and skincare products for use by physicians and clinicians in hospitals, clinics, and all post-acute care settings and offers wound care and dermatology virtual consultation services via telemedicine. Sanara’s products are primarily sold in the North American advanced wound care and surgical tissue repair markets. Sanara MedTech markets and distributes CellerateRX^® Surgical Activated Collagen^®, FORTIFY TRG^™ Tissue Repair Graft and FORTIFY FLOWABLE^™ Extracellular Matrix to the surgical markets as well as the following products to the wound care market: BIAKŌS^™ Antimicrobial Skin and Wound Cleanser, BIAKŌS^™ Antimicrobial Wound Gel, BIAKŌS^™ Antimicrobial Skin and Wound Irrigation Solution and HYCOL^™ Hydrolyzed Collagen. Sanara’s pipeline also contains potentially transformative product candidates for mitigation of opportunistic pathogens and biofilm, wound re-epithelialization and closure, necrotic tissue debridement, and cell compatible substrates. The Company believes it has acquired the ability to drive its pipeline from concept to preclinical and clinical development while meeting quality and regulatory requirements. Sanara is constantly seeking long-term strategic partnerships with a focus on products that improve outcomes at a lower overall cost. In addition, Sanara is actively seeking to expand within its six focus areas of wound and skincare for the acute, post-acute, and surgical markets. The focus areas are debridement, biofilm removal, hydrolyzed collagen, advanced biologics, negative pressure wound therapy adjunct products, and the oxygen delivery system segment of the healthcare industry.

Information about Forward-Looking Statements

The statements in this press release that do not constitute historical facts are “forward-looking statements,” within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. These statements may be identified by terms such as “aim,” “anticipates,” “believe,” contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predicts,” “preliminary,” “project,” “seek,” “target,” “should,” “will” or “would, or the negatives of these terms, variations of these terms or other similar expressions. These forward-looking statements include statements regarding, the development of new products, and expansion of the Company’s business in telehealth and wound care. These items involve risks, contingencies and uncertainties such as our ability to satisfy the closing conditions for and consummate the merger on the expected timeline or at all, the ability to integrate and retain key personnel from Precision Healing, uncertainties associated with the development and process for obtaining regulatory approval for new products, the extent of product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company’s SEC filings, which could cause the Company’s actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements.

All forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events, except as required by applicable securities laws.

Investor Contact:

Callon Nichols, Director of Investor Relations
713-826-0524
CNichols@sanaramedtech.com

SOURCE: Sanara MedTech Inc.

FAQ

What is the significance of Sanara's merger with Precision Healing?

The merger aims to enhance Sanara's product offerings in surgical and chronic wound care, improving patient outcomes and expanding market reach.

How will the merger impact Sanara's stock symbol SMTI?

The merger may lead to increased investor confidence and potentially affect SMTI's market performance positively, depending on the integration's success.

What products does Sanara MedTech provide after the merger?

Sanara offers a range of products, including CellerateRX® Surgical Activated Collagen® and BIAKŌS™ Antimicrobial line, targeting advanced wound care and surgical markets.

When was the merger between Sanara and Precision Healing finalized?

The merger was completed on April 4, 2022.

What are the future plans for Sanara after acquiring Precision Healing?

Sanara plans to focus on product innovation in telehealth and wound care, driving its pipeline from development to clinical application.