Sanara
MedTech Inc. (“Sanara,” the “Company,”
“we,” “our” or “us”) (NASDAQ: SMTI) and InfuSystem Holdings, Inc.
(“InfuSystem”) (NYSE American: INFU) 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 and associated services to new customers.
Zach Fleming, Sanara’s CEO, stated, “NPWT is a
key technology offering in the wound care market that has
benefitted 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 payors.”
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 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.
Richard Dilorio, 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 the 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.”
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. The Company 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. InfuSystem services are provided under a
two-platform model. The lead platform is Integrated Therapy
Services , 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, InfuSystem
delivers local, field-based customer support and also operates
Centers of Excellence in Michigan, Kansas, California,
Massachusetts, Texas and Ontario, Canada.
Information about Forward-Looking
Statements
The statements in this press release that do not
constitute historical facts are “forward-looking statements,”
within the meaning of and subject to the safe harbor created by the
Private Securities Litigation Reform Act of 1995. These statements
may be identified by terms such as “anticipates,” “believes,”
“contemplates,” “continue,” “could,” “estimates,” “expect,”
“forecasts,” “guidance,” “intend,” “may,” “plan,” “possible,”
“potential,” “predicts,” “preliminary,” “projects,” “seeks,”
“should,” “targets,” “will” or “would,” or the negatives of these
terms, variations of these terms or other similar expressions.
These forward-looking statements include, among others, statements
regarding the ability to successfully integrate Sanara’s product
line and expertise with InfuSystem’s existing NPWT business into
the combined offering, the development of new products, the
regulatory approval process and expansion of the Company’s
business. These items involve risks, contingencies and
uncertainties such as the extent of product demand, market and
customer acceptance, the effect of economic conditions,
competition, pricing, uncertainties associated with the development
and process for obtaining regulatory approval for new products, the
ability to consummate and integrate acquisitions, and other risks,
contingencies and uncertainties detailed in the Company’s SEC
filings, which could cause the Company’s actual operating results,
performance or business plans or prospects to differ materially
from those expressed in, or implied by these statements.
All forward-looking statements speak only as of
the date on which they are made, and the Company undertakes no
obligation to revise any of these statements to reflect the future
circumstances or the occurrence of unanticipated events, except as
required by applicable securities laws.
Investor Contact:Callon Nichols, Director of
Investor Relations 713-826-0524
CNichols@sanaramedtech.com
SOURCE: Sanara MedTech Inc.
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