SMTI

Sanara MedTech Inc. Announces $55 Million Debt Facility

Retrieved on: 
Thursday, April 18, 2024
Investment, Patient, Acquisition, CRG, Partner, SMTI

Sanara received $15.0 million in gross proceeds at closing and can draw up to $40.0 million in additional funds, at its option, in two tranches before June 30, 2025.

Key Points: 
  • Sanara received $15.0 million in gross proceeds at closing and can draw up to $40.0 million in additional funds, at its option, in two tranches before June 30, 2025.
  • The Company used approximately $9.8 million of the net proceeds to retire its existing debt.
  • In addition, Sanara is currently in discussions with a commercial bank to establish a $10.0 million revolving line of credit as permitted under the CRG facility.
  • Zach Fleming, Sanara's Chief Executive Officer, stated, “We are pleased to partner with CRG, a premier investment firm in the healthcare industry.

Sanara MedTech Inc. Announces the Appointments of Jake Waldrop as Chief Operating Officer and Tyler Palmer as Chief Corporate Development and Strategy Officer

Retrieved on: 
Friday, April 5, 2024
DJO, KPMG, Foot, Sale, Controller, Senior, SMTI, History, BSN, Planet, Orthopedic surgery, Marketing, Corporate development

Zach Fleming, Sanara's Chief Executive Officer, stated, “Jake and Tyler are seasoned executives with a wealth of experience in the medical device and wound care industries.

Key Points: 
  • Zach Fleming, Sanara's Chief Executive Officer, stated, “Jake and Tyler are seasoned executives with a wealth of experience in the medical device and wound care industries.
  • Mr. Palmer brings extensive expertise in the healthcare sector, particularly in leading strategic growth and corporate development initiatives aimed at enhancing financial and clinical outcomes for providers, while maximizing shareholder returns.
  • In his most recent role, Mr. Palmer served as the Senior Vice President of Corporate Development, Strategy, and Product at AQuity Solutions, a leading provider of outsourced revenue cycle and clinical documentation solutions.
  • Under his leadership, he crafted and executed a strategic vision that included multiple successful acquisitions and technology investments.

Sanara MedTech Inc. Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Monday, March 25, 2024
Tax, Growth, Tufts University, Patient, Extracellular matrix, Classification, Sale, Acquisition, Nature, Adjustment, SMTI, Infection, Depreciation, GAAP, Peptide

Zach Fleming, Sanara's CEO, stated, “During 2023, the Sanara team achieved several key strategic and operational milestones that position the Company for continued strong growth in 2024.

Key Points: 
  • Zach Fleming, Sanara's CEO, stated, “During 2023, the Sanara team achieved several key strategic and operational milestones that position the Company for continued strong growth in 2024.
  • The Company’s products were contracted or approved to be sold in more than 3,000 hospitals/ambulatory surgery centers as of December 31, 2023.
  • In October 2023, Sanara recorded its first sale of ALLOCYTE® Plus, a human cell and tissue-based product.
  • In November 2023, Sanara announced the publication of a retrospective study involving 5,335 patients.

Sanara MedTech Inc. Announces Fourth Quarter and Full Year 2023 Earnings Release and Conference Call Dates

Retrieved on: 
Wednesday, March 13, 2024
SMTI

Sanara will issue its earnings release on Monday, March 25, 2024, and will host a conference call on Tuesday, March 26, 2024, at 9:00 a.m. Eastern Time.

Key Points: 
  • Sanara will issue its earnings release on Monday, March 25, 2024, and will host a conference call on Tuesday, March 26, 2024, at 9:00 a.m. Eastern Time.
  • The toll-free number to call for this teleconference is 888-506-0062 (international callers: 973-528-0011) and the access code is 186401.
  • A telephonic replay of the conference call will be available through Tuesday, April 9, 2024, by dialing 877-481-4010 (international callers: 919-882-2331) and entering the replay passcode: 50126.
  • A live webcast of Sanara’s conference call will be available under the Investor Relations section of the Company's website, www.SanaraMedTech.com .

Sanara MedTech Inc. Announces Unaudited Preliminary Results for the Fourth Quarter and Full Year 2023

Retrieved on: 
Thursday, February 22, 2024
SMTI, Patient, Bank statement

Net revenue of approximately $17.7 million during the three months ended December 31, 2023, an increase of 15.5% over the $15.3 million reported in the fourth quarter of 2022.

Key Points: 
  • Net revenue of approximately $17.7 million during the three months ended December 31, 2023, an increase of 15.5% over the $15.3 million reported in the fourth quarter of 2022.
  • This represents the ninth consecutive record sales quarter reported by the Company.
  • Cash was approximately $5.1 million as of December 31, 2023.
  • Our actual results may differ from these estimates as a result of the completion of our audit and other developments that may arise between now and the time our financial results for the fourth quarter and fiscal year are finalized.

Sanara MedTech Inc. Announces Exclusive License Agreement for Patented Collagen Peptides

Retrieved on: 
Wednesday, January 3, 2024
SMTI, SCP, Sale, Research, Rochal, Health, Patent, Patent Cooperation Treaty, Music

FORT WORTH, TX, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Sanara MedTech Inc. Based in Fort Worth, Texas, Sanara MedTech Inc. (“Sanara,” the “Company,” “we,” “our” or “us”) (NASDAQ: SMTI), announced today that is has signed an exclusive license agreement with Tufts University (“Tufts”) to develop and commercialize patented technology covering 18 unique collagen peptides.

Key Points: 
  • FORT WORTH, TX, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Sanara MedTech Inc. Based in Fort Worth, Texas, Sanara MedTech Inc. (“Sanara,” the “Company,” “we,” “our” or “us”) (NASDAQ: SMTI), announced today that is has signed an exclusive license agreement with Tufts University (“Tufts”) to develop and commercialize patented technology covering 18 unique collagen peptides.
  • Zach Fleming, Sanara’s CEO stated, “Sanara has established itself as a leader in bioactive collagen peptides with CellerateRX® Surgical Powder (“CellerateRX”).
  • SCP has exclusive rights to develop and commercialize new products based on the licensed patents and patents pending.
  • SCP will pay Tufts a $100,000 minimum annual royalty on January 1 of each subsequent year during the royalty term specified in the exclusive license agreement.

Sanara MedTech Inc. Announces the Publication of a 5,335 Patient Study Demonstrating a Significant Reduction in Surgical Site Infections When Activated Collagen (CellerateRX® Surgical Powder) Was Used to Promote Wound Healing

Retrieved on: 
Thursday, November 30, 2023
Infection, SMTI, Journal, Wound healing, Dentistry

FORT WORTH, TX, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Sanara MedTech Inc. Based in Fort Worth, Texas, Sanara MedTech Inc. (“Sanara,” the “Company,” “we,” “our” or “us”) (NASDAQ: SMTI), a medical technology company focused on developing and commercializing transformative technologies to improve clinical outcomes and reduce healthcare expenditures in the surgical, chronic wound and skincare markets, announced today that the Journal of Surgery has published a retrospective study on CellerateRX® Surgical Powder (“CellerateRX”) titled “Activated Collagen Powder Significantly Reduces Surgical Site Infections in Patients Undergoing Elective Surgery”.

Key Points: 
  • FORT WORTH, TX, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Sanara MedTech Inc. Based in Fort Worth, Texas, Sanara MedTech Inc. (“Sanara,” the “Company,” “we,” “our” or “us”) (NASDAQ: SMTI), a medical technology company focused on developing and commercializing transformative technologies to improve clinical outcomes and reduce healthcare expenditures in the surgical, chronic wound and skincare markets, announced today that the Journal of Surgery has published a retrospective study on CellerateRX® Surgical Powder (“CellerateRX”) titled “Activated Collagen Powder Significantly Reduces Surgical Site Infections in Patients Undergoing Elective Surgery”.
  • Zach Fleming, Sanara’s CEO stated, “This study demonstrates that the use of CellerateRX can have a significant impact on surgical patients’ outcomes by promoting wound healing and helping to prevent surgical site infections.
  • We believe these results align with our mission of improving outcomes while lowering costs and support the benefits of using CellerateRX as documented in previous studies.
  • Based in part on this study, we also believe that CellerateRX can be used in surgeries across multiple specialties to help prevent surgical site infections and positively impact outcomes.”

Sanara MedTech Inc. Announces Third Quarter 2023 Results

Retrieved on: 
Monday, November 13, 2023
Sale, SMTI, Classification, EBITDA, Acquisition, Tax, Depreciation, Patient, Nature, GAAP, Adjustment, Growth, Pharmaceutical industry, Cryptocurrency, Music

FORT WORTH, TX, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Sanara MedTech Inc. Based in Fort Worth, Texas, Sanara MedTech Inc. (“Sanara,” the “Company,” “we,” “our” or “us”) (NASDAQ: SMTI), a medical technology company focused on developing and commercializing transformative technologies to improve clinical outcomes and reduce healthcare expenditures in the surgical, chronic wound and skincare markets, announced today its strategic, operational and financial results for the quarter ended September 30, 2023.

Key Points: 
  • FORT WORTH, TX, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Sanara MedTech Inc. Based in Fort Worth, Texas, Sanara MedTech Inc. (“Sanara,” the “Company,” “we,” “our” or “us”) (NASDAQ: SMTI), a medical technology company focused on developing and commercializing transformative technologies to improve clinical outcomes and reduce healthcare expenditures in the surgical, chronic wound and skincare markets, announced today its strategic, operational and financial results for the quarter ended September 30, 2023.
  • Zach Fleming, Sanara’s CEO stated, “Our third quarter performance included another record sales quarter as well as a narrowing net loss and positive Adjusted EBITDA.
  • The Company’s products were contracted or approved to be sold in more than 3,000 hospitals/ambulatory surgery centers as of September 30, 2023.
  • Sanara will host a conference call on Tuesday, November 14, 2023, at 9:00 a.m. Eastern Time.

Sanara MedTech Inc. Announces Third Quarter Earnings Release and Conference Call Dates

Retrieved on: 
Monday, October 30, 2023
SMTI

Sanara will issue its earnings release on Monday, November 13, 2023, and will host a conference call on Tuesday, November 14, 2023, at 9:00 a.m. Eastern Time.

Key Points: 
  • Sanara will issue its earnings release on Monday, November 13, 2023, and will host a conference call on Tuesday, November 14, 2023, at 9:00 a.m. Eastern Time.
  • The toll-free number to call for this teleconference is 888-506-0062 (international callers: 973-528-0011) and the access code is 780032.
  • A telephonic replay of the conference call will be available through Tuesday, November 28, 2023, by dialing 877-481-4010 (international callers: 919-882-2331) and entering the replay passcode: 49390.
  • A live webcast of Sanara’s conference call will be available under the Investor Relations section of the Company's website, www.SanaraMedTech.com .

Sanara MedTech Announces First Sale of ALLOCYTE® Plus Advanced Viable Bone Matrix and Provides Other Product Updates

Retrieved on: 
Tuesday, October 10, 2023
Growth, Surgeon, Tissue, SMTI, Sale, Pharmaceutical industry

As previously disclosed, in late Q3 2022, the Company began to experience material supply issues related to its ALLOCYTE® Advanced Cellular Bone Matrix (“ALLOCYTE”) product line.

Key Points: 
  • As previously disclosed, in late Q3 2022, the Company began to experience material supply issues related to its ALLOCYTE® Advanced Cellular Bone Matrix (“ALLOCYTE”) product line.
  • Zach Fleming, Sanara’s CEO, stated, “A key strategic goal of Sanara is to continue to grow sales while diversifying our product mix.
  • Beginning sales of ALLOCYTE Plus will allow us to fill the demand from surgeons who understand the efficacy and value proposition of this product.
  • Our 40 sales managers have been trained on BIASURGE and we are currently rolling out our training program for ALLOCYTE Plus.”