InfuSystem Holdings, Inc. (NYSE American: INFU) (“InfuSystem” or
the “Company”) and Sanara MedTech Inc. (NASDAQ: SMTI) (“Sanara”)
announced today the establishment of a partnership, SI Wound Care,
LLC (“SI Wound Care”), focused on delivering a complete wound care
solution targeted at improving patient outcomes, lowering the cost
of care, and increasing patient and provider satisfaction. The
partnership is expected to enable InfuSystem to offer innovative
products including Cork Medical LLC’s (“Cork”) negative pressure
wound therapy (“NPWT”) devices and supplies and Sanara’s advanced
wound care product line to new customers through the jointly
controlled entity.
Richard DiIorio, InfuSystem’s CEO, stated, “Over the past few
years, we have built our NPWT business as a turnkey solution with a
focus on offering high quality options to patients and providers.
We believe the wound care market represents a significant
opportunity to drive revenue growth for our Integrated Therapy
Services (“ITS”) platform by treating both chronic and acute
wounds. Partnering with Sanara enables us to better serve patients
and care providers nationally by offering a complete line of
advanced wound care products.”
Each partner brings a differentiated and complementary offering
to the companies’ combined solution:
- Sanara - The Sanara team
has significant wound care expertise in the acute care setting as
well as throughout the entire continuum of care. Sanara currently
employs sales managers with deep industry experience across the
United States. Sanara believes its advanced portfolio of wound care
products is complementary to NPWT services and can be used before,
during, or after NPWT to remove microbes from the wound bed and
promote healing.
- InfuSystem - InfuSystem is
a participating in-network provider for more than 770 health
insurance networks covering over 95% of the U.S. population and has
seven distribution centers across North America. InfuSystem can
leverage this infrastructure to gain acceptance for the new
products and services. Additionally, InfuSystem is a distributor of
Cork NPWT devices and supplies in the United States and Canada. The
partnership is expected to enable InfuSystem to offer new products
and thereby reach new NPWT business throughout the continuum of
care, from the hospital to the home.
Zach Fleming, Sanara’s CEO, stated, “NPWT is a key technology
offering in the wound care market that has benefited millions of
wound care patients. By pairing Sanara’s product line and deep
expertise in wound care with InfuSystem’s existing NPWT business,
including sales, distribution, clinical support, and revenue cycle
capabilities, we hope to offer a compelling solution to a broader
patient universe; offering significant value and improved outcomes
for patients, providers and payers.”
About Sanara MedTech Inc.
With a focus on improving patient outcomes through
evidence-based healing solutions, Sanara MedTech Inc. markets,
distributes and develops wound and skincare products for use by
physicians and clinicians in hospitals, clinics, and all post-acute
care settings and offers wound care and dermatology virtual
consultation services via telemedicine. Sanara’s products are
primarily sold in the North American advanced wound care and
surgical tissue repair markets. Sanara markets and distributes
CellerateRX® Surgical Activated Collagen®, FORTIFY TRG™ Tissue
Repair Graft and FORTIFY FLOWABLE™ Extracellular Matrix as well as
a portfolio of advanced biologic products focusing on AMPLIFY™
Verified Inductive Bone Matrix, ALLOCYTE™ Advanced Cellular Bone
Matrix, BiFORM® Bioactive Moldable Matrix and TEXAGEN™ Amniotic
Membrane Allograft to the surgical market. In addition, the
following products are sold to the wound care market: BIAKŌS™
Antimicrobial Skin and Wound Cleanser, BIAKŌS™ Antimicrobial Wound
Gel, BIAKŌS™ Antimicrobial Skin and Wound Irrigation Solution and
HYCOL™ Hydrolyzed Collagen. Sanara’s pipeline also contains
potentially transformative product candidates for mitigation of
opportunistic pathogens and biofilm, wound re-epithelialization and
closure, necrotic tissue debridement, and cell compatible
substrates. Sanara believes it has the ability to drive its
pipeline from concept to preclinical and clinical development while
meeting quality and regulatory requirements. Sanara is constantly
seeking long-term strategic partnerships with a focus on products
that improve outcomes at a lower overall cost. In addition, Sanara
is actively seeking to expand within its six focus areas of wound
and skincare for the acute, post-acute, and surgical markets. The
focus areas are debridement, biofilm removal, hydrolyzed collagen,
advanced biologics, negative pressure wound therapy adjunct
products, and the oxygen delivery system segment of the healthcare
industry.
About InfuSystem Holdings, Inc.
InfuSystem Holdings, Inc. (NYSE American: INFU), is a leading
national health care service provider, facilitating outpatient care
for durable medical equipment manufacturers and health care
providers. INFU services are provided under a two-platform model.
The lead platform is ITS, providing the last-mile solution for
clinic-to-home healthcare where the continuing treatment involves
complex durable medical equipment and services. The ITS segment is
comprised of Oncology, Pain Management, Wound Therapy and
Lymphedema businesses. The second platform, Durable Medical
Equipment Services (“DME Services”), supports the ITS platform and
leverages strong service orientation to win incremental business
from its direct payer clients. The DME Services segment is
comprised of direct payer rentals, pump and consumable sales, and
biomedical services and repair. Headquartered in Rochester Hills,
Michigan, the Company delivers local, field-based customer support
and also operates Centers of Excellence in Michigan, Kansas,
California, Massachusetts, Texas and Ontario, Canada.
Forward-Looking Statements
Certain statements contained in this press release are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, such as statements
relating to future actions, capital allocation strategy, business
plans, growth initiatives, objectives and prospects, future
operating or financial performance, guidance and expected new
business relationships, including with respect to our new SI Wound
Care partnership. The words “believe,” “may,” “will,” “estimate,”
“continue,” “anticipate,” “intend,” “should,” “plan,” “expect,”
“strategy,” “future,” “likely,” variations of such words, and other
similar expressions, as they relate to the Company, are intended to
identify forward-looking statements. Forward-looking statements are
subject to factors, risks and uncertainties that could cause actual
results to differ materially, including, but not limited to, our
ability and the ability of our new SI Wound Care partnership to
successfully execute on our growth initiatives, our ability and the
ability of our new SI Wound Care partnership to obtain new business
relationships, potential litigation, changes in third-party
reimbursement processes, changes in law, contributions from
acquired businesses or new business lines, products or services,
including our new SI Wound Care partnership, and other risk factors
disclosed in the Company’s most recent annual report on Form 10-K
and, to the extent applicable, quarterly reports on Form 10-Q. All
forward-looking statements made in this press release speak only as
of the date hereof. We do not undertake any obligation to update
any forward-looking statements to reflect future events or
circumstances, except as required by law.
Additional information about InfuSystem Holdings, Inc. is
available at www.infusystem.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20221103005432/en/
Joe Dorame, Joe Diaz & Robert Blum Lytham Partners, LLC
602-889-9700
InfuSystems (AMEX:INFU)
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