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 (NASDAQ: SMTI) announced the resignation of J. Michael Carmena as Principal Executive Officer and Board member, effective December 31, 2021. Eric Tanzberger will join the Board on January 1, 2022, bringing extensive finance and corporate governance experience. Ron Nixon, Executive Chairman, praised Carmena's leadership and expressed gratitude for his contributions. Tanzberger's appointment is expected to enhance Sanara's strategic growth in wound and skin care markets.
Sanara MedTech Inc. (NASDAQ: SMTI) announced Roszell Mack III has been appointed to its Board of Directors, effective January 1, 2022. Mack brings extensive experience in finance and technology ventures, and is expected to provide valuable insights as the company executes its wound and skin care strategy. He is the President of Mack & Co., LLC, and previously co-founded Ascend Venture Group. His background includes over a decade in investment banking at Goldman Sachs and Salomon Smith Barney, making him a significant addition to the board.
Sanara MedTech reported strong financial results for Q3 2021, with revenues of $5.8 million, a 35% increase from the previous year. Despite the impact of COVID-19 Delta variant causing elective procedure delays, the company gained new hospital approvals and expanded its sales team to 29 members. However, net losses increased to $2 million due to rising selling, general, and administrative expenses, totaling $6.9 million. The company is optimistic that postponed procedures will eventually be performed. A conference call is set for November 15, 2021.
Sanara MedTech Inc. (NASDAQ: SMTI), based in Fort Worth, Texas, has announced the commercial launch of two innovative products in collaboration with Cook Biotech Inc. These products, FORTIFY TRG™ Tissue Repair Graft and FORTIFY FLOWABLE™ Extracellular Matrix, are designed to enhance surgical and chronic wound care. Both products are FDA 510(k) cleared, with FORTIFY TRG aimed at reinforcing soft tissue and FORTIFY FLOWABLE designed for various wound management applications. The partnership aims to improve patient outcomes while reducing costs.
Sanara MedTech Inc. (NASDAQ: SMTI) announced its third quarter earnings release will occur on November 12, 2021, after market close. A conference call is scheduled for November 15, 2021, at 9:00 a.m. ET. Investors can access the call by dialing 888-506-0062 or via the company's website for a live webcast. The company focuses on advanced wound care solutions and aims to improve patient outcomes through innovative products and telemedicine services. Key areas of focus include biofilm removal and advanced biologics.
Sanara MedTech Inc. (NASDAQ:SMTI), a Fort Worth-based provider of surgical and chronic wound care products, announced its virtual presentation at the 2021 Cantor Virtual Global Healthcare Conference. The presentation is scheduled for September 29, 2021, at 9:20 a.m. ET. Prior to the event, presentation materials will be available on the company's Investor Relations website. Sanara focuses on evidence-based healing solutions, offering products like CellerateRX® and BIAKŌS™ for wound care, while also expanding into telemedicine for consultations.
Sanara MedTech Inc. (NASDAQ: SMTI) has been selected to present at the virtual MicroCap Leadership Summit on September 24, 2021. Executive Chairman Ron Nixon will represent the company among ten selected firms, connecting with over 100 retail and institutional investors globally. Sanara specializes in surgical and chronic wound care products, aiming to improve patient outcomes. The presentation materials will be accessible on the company's website before the event. For further details, visit MicroCapClub.
Sanara MedTech Inc. (NASDAQ:SMTI) reported significant growth in its second quarter results for 2021. Revenues reached $6.28 million, up 112% from the previous year, driven by increased sales of surgical products across more facilities. The company expanded its sales team and formed a strategic partnership with Pixalere Healthcare. Despite a net loss of $1.21 million for the quarter, improvements were noted compared to the prior year. Sanara also acquired assets from Rochal Industries, enhancing its R&D capabilities.
Sanara MedTech Inc. (NASDAQ:SMTI) has announced the release of its second-quarter financial results for 2021, scheduled for August 16, 2021. The findings will be disclosed post-market close, followed by a conference call on August 17, 2021, at 9:00 a.m. ET. The company's focus remains on developing wound and skincare products to enhance patient outcomes. Sanara continues to pursue innovations in telehealth and seeks strategic partnerships to improve healthcare cost-effectiveness.
Sanara MedTech Inc. (NASDAQ: SMTI) announced the acquisition of certain assets from Rochal Industries for approximately $1.0 million, consisting of $0.5 million in stock and $0.5 million in cash. This acquisition will enhance Sanara's wound and skin care technology and includes hiring Rochal's R&D team, intellectual property, and FDA clearances. The company anticipates additional operating expenses of $1.2 to $1.5 million in the first year, potentially offset by future grants and contract revenues. This move is aligned with Sanara's strategy to improve patient outcomes.