MiMedx Group agreed on 29 July to acquire Fort Worth, Texas-based Sanara MedTech in a cash-and-stock deal worth $35 per share and an enterprise value of about $350m.
Why MiMedx Group, Inc. is buying Sanara MedTech Inc.
MiMedx said the deal nearly doubles its surgical revenue, adding Sanara's CellerateRX Surgical Powder, BIASURGE no-rinse irrigation solution and exclusive US distribution rights to OsStic, an injectable bone adhesive with FDA Breakthrough Device designation targeted for launch in 2027.
“We are thrilled to announce the planned combination with Sanara MedTech and look forward to welcoming their team to the MIMEDX family in the near future”
Deal terms and financing
Sanara holders receive $33.00 in cash and 0.4735 MiMedx shares, a 46% premium to the 30-day VWAP. MiMedx will fund the cash with cash on hand and a new $300m term loan from Hayfin Capital Management, and expects more than $20m of run-rate cost synergies and an adjusted EBITDA margin above 20% in 2027.
Regulatory approvals and timing
Sanara shareholders approved the merger at a special meeting on 30 September 2026; closing is expected by year-end subject to remaining conditions.
Market context
MiMedx chief executive Joseph Capper said the company had shown it could drive double-digit growth in surgical markets. Sanara's board ran a sale process before agreeing the deal, its chief executive Seth Yon said.
