MiMedx Group agreed to acquire Sanara MedTech in a cash-and-stock deal with an enterprise value of about $350 million. Joele Frank, Wilkinson Brimmer Katcher advised Sanara.
Terms value Sanara at $35.00 per share. Holders will receive $33.00 in cash and 0.4735 of a MiMedx share for each Sanara share they own. Sanara, based in Fort Worth, Texas, develops and commercializes regenerative products for surgical markets. Its portfolio includes CellerateRX Surgical Powder and BIASURGE Advanced Surgical Solution, products used to support tissue repair and wound management in the operating room, and it is working toward a 2027 launch of OsStic BioAdhesive, a bone-fixation product the FDA has designated a Breakthrough Device. The agency reserves that status for devices that may offer real advantages over existing options. Joele Frank fielded investor and media questions for Sanara as the deal went public.
The buyer brings scale in an adjacent field. MiMedx, based in Marietta, Georgia, and listed on the Nasdaq under the ticker MDXG, makes placental-based regenerative products used in wound care and surgery. The deal joins Sanara’s surgical technologies across collagen particulate, wound irrigation and bone fixation with MiMedx’s portfolio and its established surgical sales channel. Both companies sell into hospital operating rooms and wound-care settings, so the combination widens the range of products a single sales team can carry to the same customers. MiMedx has said the combined company would post more than $400 million in annual revenue, with over $20 million in run-rate cost synergies. The team at Joele Frank handled press for Sanara through the announcement.
The team at Joele Frank, Wilkinson Brimmer Katcher advised Sanara MedTech.
Consolidation among makers of surgical and wound-care products has continued as companies look to broaden their portfolios and widen access to hospital operating rooms. Sanara brings a set of regenerative technologies and a pipeline product with a Breakthrough Device designation, while MiMedx contributes scale and a surgical sales force already calling on hospitals. The cash-and-stock structure gives Sanara holders an immediate cash component plus continued exposure to the combined company through MiMedx shares. The transaction is expected to close by year-end, subject to a Sanara shareholder vote, regulatory approval and customary conditions. Joele Frank managed the announcement for Sanara as the two companies begin the path to closing.
