Sanara MedTech Inc. [SMTI] - / MiMedx Group merger
Sanara MedTech Inc. has entered into a definitive merger agreement with MiMedx Group, Inc., where Mustang Merger Sub, Inc. will merge with Sanara MedTech, making it a wholly-owned subsidiary of MiMedx.
Why this matters
Sanara MedTech Inc., a company focused on developing and commercializing regenerative products for surgical markets, has entered into a definitive merger agreement with MiMedx Group, Inc. Under the terms of the agreement, MiMedx will acquire all outstanding shares of Sanara in a cash and stock transaction valued at $35 per Sanara share, with a total enterprise value of approximately $350 million. This merger aims to combine MiMedx's high-growth surgical portfolio with Sanara's innovative technologies, including products like CellerateRX Surgical Powder and BIASURGE Advanced Surgical Solution, to expand their reach across various surgical subspecialties. The combined entity is expected to achieve total revenue well in excess of $400 million by 2027, with an adjusted EBITDA margin over 20%.