MiMedx reported second quarter net sales of $64.4 million, a 35% decrease from the prior year, and an adjusted loss per share of $0.05. The results were driven by continued strength in the Surgical franchise, which partially offset significant year-over-year declines in the Wound segment following Medicare reimbursement changes. The company also announced a definitive agreement to acquire Sanara MedTech.
Key Highlights
- Surgical franchise revenue grew 15% year-over-year to $39.3 million, showing sustained momentum.
- Wound care sales declined 61% year-over-year to $25.1 million due to new Medicare reimbursement rules, but grew 11% sequentially from the first quarter, suggesting early signs of stabilization.
- Announced a definitive agreement to acquire Sanara MedTech for approximately $350 million in a cash and stock transaction to significantly expand its surgical footprint.
- The company reiterated its full-year 2026 net sales guidance of $260 million to $290 million and expects to approach Adjusted EBITDA breakeven.