MiMedx Agrees to Buy Sanara MedTech for $35/Share in Cash and Stock

By Elias Schisgall

MiMedx agreed to acquire Sanara MedTech for $35 a share in a cash-and-stock deal with a total enterprise value around $350 million.

The company on Wednesday said Sanara investors will receive $33 in cash and 0.4735 shares of MiMedx, valued at $2 each, in exchange for each Sanara share. MiMedx will fund the acquisition through cash on hand and a new $300 million term loan secured with Hayfin Capital Management.

The price represents a 46% premium to Sanara's 30-day volume-weighted average stock price as of Tuesday, MiMedx said.

It said the addition of Sanara, which makes regenerative products for surgical markets, will enhance its surgical portfolio and be immediately accretive to revenue growth and gross margins.

The companies are expected to have combined 2027 revenue well above $400 million with an adjusted earnings before interest, taxes, depreciation, and amortization margin of more than 20%, MiMedx Chief Executive Joseph Capper said.

As part of MiMedx's new debt financing from Hayfin, its existing credit agreement will be terminated with all outstanding amounts repaid in full, the company said.

The deal is expected to close by the end of the year.

MiMedx also on Wednesday reported a second-quarter loss of $14.8 million, or 10 cents a share, compared with a profit of $9.6 million, or 6 cents a share, a year earlier.

Net sales fell to $64.4 million from $98.6 million a year prior. The decline was driven by Medicare reimbursement changes that impacted the company's wound business, with sales in that segment down 61%, MiMedx said.

Analysts polled by FactSet were expecting a loss of 5 cents a share on $63.5 million in net sales.

The company reaffirmed its full-year outlook of net sales between $260 million and $290 million. It said it expects long-term annual net sales growth in the low double digits.

Shares in MiMedx were down 1.9% to $4.15 in after-hours trading Wednesday. Sanara's stock jumped 9% to $32.96.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

July 29, 2026 17:25 ET (21:25 GMT)