Business
Sanara MedTech Inc. Announces Second Quarter 2021 Results and Business Update
FORT WORTH, TX / ACCESSWIRE / August 16, 2021 / Sanara MedTech Inc .Based in Fort Worth, Texas, Sanara MedTech Inc. ("Sanara," the "Company," "we," "our" or
About this update from Sanara Medtech Inc.
[{"type":"text","content":"FORT WORTH, TX / ACCESSWIRE / August 16, 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 its strategic, operational and financial results for the quarter ended June 30, 2021.Ron Nixon, Sanara's Executive Chairman, stated, \"Sanara had another record sales quarter to end the first half of 2021. Our results were driven by strong product sales across a wider number of facilities and geographies. Additionally, we continued to execute on our comprehensive wound and skin strategy by closing on the Pixalere partnership, arranging pilots to prove the value of the Company's offering, and continuing to focus on developing new products. Subsequent to the end of the quarter we completed our acquisition of certain assets of Rochal Industries, LLC (\"Rochal\") and brought their team in-house, which we believe will contribute to our long-term success.\"Second Quarter 2021 Strategic HighlightsThe Company announced an exclusive partnership with Pixalere Healthcare Inc. (\"Pixalere\") to advance its comprehensive wound and skin care strategy. This partnership combines 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.The Company's surgical products continued to be approved for use in additional facilities throughout the quarter. As of June 30, 2021, CellerateRX was approved to be used in over 900 hospitals and ambulatory surgical centers.Sanara hired 8 additional salespeople in Q2, bringing the total number of regional sales managers and territory managers to 26.The Company's surgical products generated revenue in 21 states in Q2 2021 at or above a $50,000 annual run rate (compared to 18 states that generated revenue above $50,000 for the full year 2020).For the first half of the year, CellerateRX Surgical has been sold in over 300 hospitals/ASCs as of June 30, 2021Subsequent to the end of the quarter, the Company announced the acquisition of certain assets of Rochal. In connection with this acquisition, Sanara brought in-ho...