Full Press Release Details
MedTech Inc. Announces Unaudited Preliminary Results for the Fourth Quarter and Full Year 2023
WORTH, TX / GlobeNewswire / February 22, 2024 / Sanara MedTech Inc. Based
in Fort Worth, Texas, Sanara MedTech Inc. ("Sanara," the "Company," "we," "our" or "us")
(NASDAQ: SMTI), a medical technology company focused on developing and commercializing transformative technologies to improve clinical
outcomes and reduce healthcare expenditures in the surgical, chronic wound and skincare markets, announced today certain unaudited preliminary
results for the fourth quarter and full-year 2023.
Fourth Quarter and Full-Year 2023 Preliminary Results (Unaudited)
Fleming, Sanara's CEO, stated, "Sanara's success in 2023 was driven primarily by strong sales growth across a number
of products, including CellerateRX Surgical and our advanced biologics portfolio. I am grateful to the entire team for their hard work
and dedication as we strive to deliver products to doctors and patients that improve outcomes and reduce costs."
independent registered public accounting firm has not completed its procedures with respect to the preliminary financial information
or its audit of our financial statements for the year ended December 31, 2023. Our actual results may differ from these estimates as
a result of the completion of our audit and other developments that may arise between now and the time our financial results for the
fourth quarter and fiscal year are finalized.
MedTech Inc. is a medical technology company focused on developing and commercializing transformative technologies to improve clinical
outcomes and reduce healthcare expenditures in the surgical, chronic wound and skincare markets. The Company markets, distributes and
develops surgical, 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 ACTIGENTM Verified Inductive Bone Matrix, ALLOCYTE
Plus Advanced Viable Bone Matrix, BiFORM Bioactive Moldable Matrix, TEXAGEN Amniotic Membrane Allograft,
and BIASURGE Advanced Surgical Solution to the surgical market. In addition, the following products are sold in the
wound care market: BIAK S Antimicrobial Skin and Wound Cleanser, BIAK S Antimicrobial Wound
Gel, BIAK S 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.
about Forward-Looking Statements
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 "aims," "anticipates," "believes," "contemplates," "continue,"
"could," "estimates," "expect," "forecast," "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 Company's expected net revenue for the fourth quarter and full fiscal year ended December 31,
2023, the Company's expected cash and cash equivalents as of December 31, 2023, the development of new products, the timing of
commercialization of our products and the regulatory approval process. These items involve risks, contingencies and uncertainties such
as the preliminary financial information remaining subject to changes and finalization based upon management's ongoing review of
results for the fourth quarter and full fiscal year 2023 and the completion of all quarter and year-end closing procedures, 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.
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
Nichols, Director of Investor Relations