Business
MIMEDX Announces Fourth Quarter and Full Year 2022 Operating and Financial Results
Reports Highest Quarterly Net Sales Since the Fourth Quarter of 2019 Quarterly Net Sales of $74.4 million Reflect Growth of 10% with Strong Contributions from
About this update from Mimedx Group, Inc
[{"type":"text","content":"Reports Highest Quarterly Net Sales Since the Fourth Quarter of 2019 Quarterly Net Sales of $74.4 million Reflect Growth of 10% with Strong Contributions from Sales to the Surgical Market Initiated the First of Two Registrational Clinical Trials for micronized dehydrated human amnion/chorion membrane (“mDHACM”) in the Treatment of Knee Osteoarthritis (“KOA”) Management to Host Conference Call Today, February 28, 2023, at 5:00 PM ET MARIETTA, Ga., Feb. 28, 2023 (GLOBE NEWSWIRE) -- MiMedx Group, Inc. (Nasdaq: MDXG) (“MIMEDX” or the “Company”), a pioneer and leader in placental biologics, today announced operating and financial results for the fourth quarter and full year 2022. Joseph H. Capper, MIMEDX Chief Executive Officer (\"CEO\"), commented, “The MIMEDX team closed out 2022 on a high note, delivering the highest quarterly net sales in a couple of years. That strong momentum has continued into 2023, driven by our best-in-class product offering. These solid results and our continued commercial execution come despite the uneven playing field in the private physician office, specifically around Medicare reimbursement. We remain optimistic that reimbursement changes in this care setting, once finalized, can add even more momentum to our business.” Mr. Capper continued, “During my first month at MIMEDX, I have been highly impressed by the experience, industry knowledge and competitive spirit throughout the company. As I look across MIMEDX, we have an excellent platform from which to build, our Wound & Surgical business in the U.S. is performing well, we have an emerging presence with a first-mover advantage in Japan and a robust product pipeline — including our mDHACM product with its registrational trial now underway. Furthermore, with a focus on cost management and targeted complementary investments, I am confident our business has the potential to grow significantly over time.” Recent Operating and Financial Highlights: Reported fourth quarter and full year 2022 net sales of $74.4 million and $267.8 million, representing increases of 10.3% and 3.6%, respectively, compared to fourth quarter and full year 2021. The Company’s full year 2022 net sales also reflect growth of 10.5% across its continuing portfolio of Advanced Wound Care products compared to full year 2021.Appointed Joseph H. Capper CEO and Director.Commenced the Compan...