MIMEDX to Add Sanara MedTech’s Regenerative Technologies Through $350 Million Deal

MIMEDX Group, Inc. will acquire Sanara MedTech Inc. under a definitive agreement valuing Sanara at $35 per share, for a total enterprise value of approximately $350 million, according to an announcement by the companies. The boards of both companies unanimously approved the transaction, which is expected to close by year-end 2026, subject to Sanara shareholder approval, required regulatory approvals, and customary closing conditions.

The combination aligns MIMEDX’s surgical portfolio with Sanara’s regenerative technologies across collagen particulate, wound irrigation, and bone fixation. Sanara’s offerings include CellerateRX Surgical Collagen Powder and BIASURGE Advanced Surgical Solution, a no‑rinse irrigation solution. The portfolio also includes exclusive distribution rights to OsStic BioAdhesive Advanced Bone Fixation, a synthetic injectable bio‑adhesive that has received Breakthrough Device designation from the U.S. Food and Drug Administration (FDA), with Sanara working toward a 2027 commercial launch. Together, the companies aim to diversify beyond soft tissue into musculoskeletal applications for operating‑room use.

Under the terms of the agreement, each Sanara share will be exchanged for $33.00 in cash and 0.4735 shares of MIMEDX common stock, representing a 46% premium to Sanara’s 30-day volume-weighted average price as of July 28, 2026. The cash portion of the transaction will be funded with cash on hand and a new $300 million term loan committed by Hayfin Capital Management, while MIMEDX’s existing credit agreement will be terminated and repaid.

The companies expect the merger to nearly double MIMEDX’s surgical revenue and broaden market access through Sanara’s established hospital and surgical call-point relationships. Combined revenue is projected to exceed $400 million in 2027, with an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of more than 20%. The transaction is also expected to generate over $20 million in run-rate cost synergies and deliver an immediate improvement in revenue growth, gross margin, and adjusted EBITDA margin following the close.

“This exciting transaction brings together two highly focused organizations with deep benches of talent and strong momentum in the surgical space. By combining Sanara with MIMEDX’s broad portfolio, robust commercial capabilities and commitment to innovation, we will be positioned to deepen our existing distributor relationships while expanding our presence in the operating room,” said Seth Yon, Sanara’s President and Chief Executive Officer.

“The Sanara Board of Directors conducted a robust process and determined that the resulting transaction delivers a compelling and certain cash premium to shareholders while providing the opportunity to participate in the future value creation of the combined company. I am grateful to the outstanding Sanara team for their focus, hard work and dedication, and I look forward to bringing our teams together to build a stronger business with even greater opportunity in surgical care,” added Yon.

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