Business
Sanara MedTech Inc. Announces Exclusive Partnership with Pixalere Healthcare Inc. to Advance its Comprehensive Wound and Skin Care Strategy
FORT WORTH, TX / ACCESSWIRE / June 4, 2021 / Sanara MedTech Inc.Based in Fort Worth, Texas, Sanara MedTech Inc. ("Sanara," the "Company," "we," "our" or "us")
About this update from Sanara Medtech Inc.
[{"type":"text","content":"FORT WORTH, TX / ACCESSWIRE / June 4, 2021 / Sanara MedTech Inc.Based in Fort Worth, Texas, Sanara MedTech Inc. (\"Sanara,\" the \"Company,\" \"we,\" \"our\" or \"us\") (NASDAQ:SMTI), a provider of surgical and chronic wound care products dedicated to improving patient outcomes, announced today that it has closed an exclusive partnership with Pixalere Healthcare Inc. (\"Pixalere\").Ron Nixon, Sanara's Executive Chairman, stated, \"Our goal at Sanara MedTech is to offer comprehensive wound and skin care solutions across all care settings. Our partnership with Pixalere is key to furthering that goal by combining Pixalere's technology, including decision support, documentation, and wound tracking analytics, with complementary Sanara solutions that offer virtual access to expert wound and skin physicians/clinicians, advanced diagnostics, and wound care product order fulfillment.\"Investment and Partnership OverviewSanara purchased Class A Preferred Shares of Pixalere convertible into 27.3% of the outstanding equity of Pixalere. Sanara will report its investment in Pixalere using the using the equity method of accounting. Sanara's 27.3% share of Pixalere's operations will be included in Sanara's Statement of Operations as Other income (or expense).In conjunction with this investment, Sanara has established Pixalere Healthcare USA, LLC (\"Pixalere USA\") as a subsidiary of Sanara. Pixalere granted Pixalere USA a royalty-free exclusive license to use the Pixalere software and platform in the United States. In exchange for the exclusive license, Pixalere USA issued a 27.3% equity ownership interest to Pixalere.Pixalere OverviewPixalere is a cloud-based wound care software tool that empowers nurses, specialists, and administrators to deliver better care from the patient bedside. Currently, Pixalere serves and supports 8,000+ daily clinical users as they treat 40,000+ patients with wounds annually in Canada and other non-U.S. markets. Pixalere currently provides the following solutions to its customers:A collaboration tool for nurses and wound care specialistsWound tracking analyticsRecommended treatment plans/decision supportAutomated referrals.These capabilities are currently being integrated with Sanara's WounDerm platform to better serve the U.S. wound care market.Pixalere/WounDerm IntegrationSanara's partnership with Pixalere advance...