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. develops and commercializes medical technologies for the surgical market, including soft tissue repair, wound irrigation and bone fusion products used in operating rooms and sterile environments. Company news commonly covers financial results and guidance, sales and distribution activity, contracts for BIASURGE Advanced Surgical Solution, clinical and economic evidence for CellerateRX Surgical Powder, and product portfolio initiatives such as OsStic.
Coverage also includes conference presentations and business realignment disclosures, including the treatment of Tissue Health Plus as discontinued operations in Sanara's financial statements.
Sanara MedTech Inc. announced the appointment of Sara Ortwein to its Board of Directors, effective December 18, 2020. Ortwein, a former president of XTO Energy at ExxonMobil, brings 38 years of experience in engineering and management. Her addition is expected to enhance Sanara's strategic approach to wound and skin care products. Executive Chairman Ron Nixon emphasized her diversity of thought and executive-level expertise as valuable assets for the company. Sanara focuses on improving patient outcomes through advanced wound care and is expanding its telemedicine capabilities.
Sanara MedTech Inc. (NASDAQ: SMTI) reported a record revenue of $4.3 million for Q3 2020, marking a 48% increase year-over-year. The growth is attributed to the rebound in elective surgeries post-COVID restrictions. The company expanded its wound care strategy by forming United Wound and Skin Solutions LLC and investing in Direct Dermatology Inc. and Woundyne Medical LLC. Despite the revenue growth, Sanara incurred a net loss of $1.2 million for the quarter due to increased selling and administrative expenses.
Sanara MedTech Inc. (NASDAQ: SMTI) has announced an exclusive affiliation with Precision Healing, Inc. to commercialize advanced diagnostic systems aimed at enhancing chronic wound care outcomes. This partnership will utilize bedside diagnostic technology, including advanced imaging and molecular assays, to evaluate wound healing conditions. Sanara expects this innovative technology, which complements their existing wound care services and telemedicine platform, to be available commercially in 2021, contributing to their mission of improving patient outcomes through effective, evidence-based solutions.
Sanara MedTech Inc. (NASDAQ:SMTI) announced the launch of its BIAKŌS™ Antimicrobial Wound Gel and shared viral testing results for its BIAKŌS™ Skin and Wound Cleanser. The gel is designed for various wound types, promoting healing and disrupting biofilm microbes. Recent lab tests indicate that the cleanser effectively reduces SARS-CoV-2 viral loads, suggesting potential protective benefits. The Company aims to enhance patient outcomes with these products and is committed to expanding its offerings in wound care.
Sanara MedTech Inc. (OTCQB: SMTI) appointed Bob DeSutter to its Board of Directors, effective October 12, 2020. With 27 years of experience in healthcare investment banking, DeSutter brings valuable expertise to the Company. Executive Chairman Ron Nixon emphasized that DeSutter's insights will enhance the execution of Sanara's long-term wound and skin care strategy. Sanara focuses on patient outcomes through evidence-based solutions, marketing various products in the advanced wound care market. The appointment aims to strengthen the Company's leadership as it pursues growth in its six focus areas.
Sanara MedTech Inc (OTCQB: SMTI) has announced an exclusive affiliation with MGroup Integrated Physician Services, enhancing its telehealth capabilities in wound care. The partnership allows Sanara's subsidiary, UWSS, to provide management services, while MGroup will deliver clinical services. MGroup, a physician-led multispecialty group, aims to expand telehealth services to all 50 states by 2021. Dr. Chris Morrison, a seasoned healthcare executive, will lead telehealth efforts at UWSS, indicating a strategic move towards affordable virtual wound care solutions across the U.S.
Sanara MedTech Inc. (OTCQB:SMTI) announced an expansion into telehealth for wound and skin care. The company is establishing a subsidiary, United Wound and Skin Solutions LLC, to enhance patient access through virtual consultations. They will integrate technology from Woundyne Medical LLC and Direct Dermatology Inc. to facilitate remote diagnosis and treatment. Sanara plans to have its virtual consultation technology ready by year-end, which could improve patient outcomes and reduce care costs.
Sanara MedTech Inc. (OTCQB: SMTI) reported its Q2 2020 results, revealing a 2% revenue decline to $2.97 million due to COVID-19's impact, despite a record sales month in June. Year-to-date revenue increased by 18% to $6.49 million. The company has reduced costs significantly and expanded its sales force from 9 to 21 regional managers. BIAKŌS™ products showed promising results against SARS-CoV-2 and human coronavirus. Despite a net loss of $1.13 million for Q2, Sanara aims to offset SG&A expenses as new hires begin generating revenue.