Business
Sanara MedTech Inc. Announces Fourth Quarter and Full Year 2020 Results
FORT WORTH, TX / ACCESSWIRE / March 31, 2021 / Based in Fort Worth, Texas, Sanara MedTech Inc. ("Sanara," the "Company," "we," "our" or "us") (NASDAQ:SMTI), a
About this update from Sanara Medtech Inc.
[{"type":"text","content":"FORT WORTH, TX / ACCESSWIRE / March 31, 2021 / 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 its strategic, operational and financial results for the quarter and full year ended December 31, 2020.Ron Nixon, Sanara's Executive Chairman, stated: \"In 2020, Sanara continued to grow product distribution and geographic sales coverage while bringing together the components of its comprehensive wound and skin care strategy. During the last three quarters of the year, COVID-19 presented a number of challenges, from the temporary suspension of elective surgeries to limits on access to facilities where our products are sold. However, our team adjusted as necessary, resulting in a strong year and a record sales quarter for Q4.\"Fourth Quarter 2020 Strategic Highlights Closed on an exclusive affiliation with MGroup Integrated Physician Services, P.A. (\"MGroup\"). Pursuant to this arrangement, Sanara, through its subsidiary United Wound and Skin Solutions LLC (\"UWSS\"), has agreed to provide certain management services to MGroup, and MGroup has agreed to provide certain in-person and telehealth related clinical services to UWSS.Announced that Bob DeSutter has been appointed to the Company's Board of Directors, effective October 12, 2020. Bob DeSutter is a managing director in Piper Sandler healthcare investment banking. He has 27 years of healthcare investment banking experience at Piper Sandler and served as global group head from 2003 to 2018. Over that period, the group became one of the leading and most respected healthcare investment banking practices.Sanara received approval to list its common stock on The Nasdaq Capital Market. Sanara's common stock began trading on The Nasdaq Capital Market effective at the opening of trading hours on November 2, 2020 under the ticker symbol \"SMTI\".Launched BIAKŌS™ Antimicrobial Wound Gel. BIAKŌS™ Antimicrobial Wound Gel is an antimicrobial hydrogel wound dressing. It can be used alone or in combination with BIAKŌS™ Antimicrobial Skin and Wound Cleanser.Through its subsidiary UWSS, Sanara closed an investment in and exclusive affiliation with Precision Healing, Inc. to commercialize its proprietary diagnostic s...