Sanara Medtech Inc Stock Price, News & Analysis

Sanara MedTech announced the successful acquisition of Scendia Biologics, closed on July 1, 2022, for $7.4 million, comprising $1.4 million cash and $6.0 million in stock. Scendia, previously a sub-distributor and partner, had 2021 revenues of $8.3 million. The acquisition aims to enhance Sanara's product offerings, expand partnerships with health systems, and is expected to positively impact earnings per share in Q3 2022.

Sanara MedTech reported its financial results for Q1 2022, achieving a record revenue of $7.8 million, up 56% YoY. The company noted significant operational achievements, including generating over $3 million in sales within a single month and expanding its distribution network to approximately 1,250 facilities. The first quarter also marked the completion of the acquisition of Precision Healing. However, Sanara recorded a net loss of $3.2 million, attributed primarily to increased selling, general, and administrative expenses.

Sanara MedTech Inc (NASDAQ: SMTI) announced its first-quarter earnings release date for the period ending March 31, 2022. The earnings report will be published after market close on May 16, 2022, followed by a conference call on May 17, 2022, at 9:00 a.m. ET. Interested parties can join the call using the toll-free number provided. The Company focuses on improving patient outcomes with advanced wound care and surgical products. Its offerings include various innovative solutions for healthcare settings.

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.

Sanara MedTech Inc has announced a definitive agreement to merge with Precision Healing Inc. The boards of both companies approved the merger, expected to close today. Sanara has been a stakeholder in Precision Healing since 2020, holding 25.7% equity. The transaction comprises approximately $5.1 million in stock and cash, valuing Precision Healing at about $7.8 million. The merger aims to enhance diagnostic technology for chronic wounds, improving patient outcomes and offering innovative treatment protocols through advanced algorithms and multispectral imaging.

Sanara MedTech (NASDAQ: SMTI) announced strategic and financial results for 2021, reporting revenues of $24.1 million, a 55% increase from 2020. The company attributed this growth to enhanced sales of surgical products and expansion in U.S. markets. Operating costs rose, with SG&A expenses reaching $28.1 million, primarily due to sales force expansion. Despite revenue growth, Sanara reported a net loss of $8.0 million for the year, up from $4.4 million in 2020, driven by increased operational costs and R&D investments. The company plans to expand telehealth services for wound care.

Sanara MedTech Inc. (NASDAQ: SMTI) announced the upcoming release of its fourth quarter and full year results for 2021 on March 30, 2022. The press release details a conference call scheduled for March 31, 2022, at 9:00 a.m. Eastern Time, which will discuss the financial results. Sanara focuses on developing advanced wound and skincare products and is seeking to expand its offerings in telemedicine. The Company aims to improve patient outcomes and drive its pipeline from concept to market, while addressing various healthcare focus areas.

Sanara MedTech Inc. (NASDAQ: SMTI) reported preliminary 2021 financial results, showing a substantial increase in revenues. For Q4 2021, total revenue reached approximately $7.0 million, up 47% from $4.8 million in Q4 2020. Full-year revenue was approximately $24.1 million, a 55% increase from $15.6 million in 2020. The growth is attributed to expanding the sales force and distribution network. As of December 31, 2021, cash and cash equivalents stood at $18.7 million.

Sanara MedTech Inc. (NASDAQ: SMTI) has appointed Zachary B. Fleming as Chief Executive Officer effective January 1, 2022. Ron Nixon, Executive Chairman, praised Fleming's leadership, highlighting his role in achieving double-digit revenue growth in the Surgical Division amidst the COVID-19 challenges. Fleming aims to enhance Sanara's surgical offerings and execute its comprehensive wound and skin care strategy. With a background in sales and management roles at the company and previous firms, Fleming's appointment is expected to foster innovation and improve stakeholder outcomes.