Sanara Medtech Inc. · NASDAQ:SMTI
Sanara Medtech — Merger or Acquisition (July 2026)
62 slides from Sanara Medtech's merger presentation, Jul 29, 2026
Slide 1: Investor Presentation July 2026
Investor Presentation July 2026
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer FORWARD-LOOKING STATEMENTS Please note that in this presentation the Company may discuss events or results that have not yet occurred or been realized, commonly referred to as forward-looking statements. Such discussion and statements may contain words such as “expect,” “anticipate,” “wil
Slide 3: Disclaimer: No Offer or Solicitation
Disclaimer No Offer or Solicitation This presentation does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or approval with respect to the Transactions or otherwise, nor shall there be any sale, issuance or transfer
Slide 4: MIMEDX – A Pioneer & Leader Delivering Healing Solutions in Healthcare
MIMEDX – A Pioneer & Leader Delivering Healing Solutions in Healthcare | 4 | At MIMEDX, our vision is to be the leading global provider of healing solutions through relentless innovation to restore quality of life. EXPANDING SURGICAL FOOTPRINT as we demonstrate positive clinical and economic outcome
Slide 5: Investment Rationale
Investment Rationale | 5 | Addressing large & expanding Surgical markets and continuing a legacy of leadership in Wound Acquisition of Sanara MedTech accelerates Surgical growth Key competitive advantages with innovative products, extensive IP, proprietary technologies and expansive sales infrastruc
Slide 6: Sanara MedTech Acquisition Details
Sanara MedTech Acquisition Details | 6 |
Slide 7: Sanara Meaningfully Accelerates Efforts to Expand Surgical Footprint
Sanara Meaningfully Accelerates Efforts to Expand Surgical Footprint | 7 | 100% Surgical / OR Business Leading Particulate Expanding Product Portfolio Unlocks Sizable Incremental TAMs1 +$4B Transforms Surgical Footprint & Financial Profile Robust R&D Pipeline Key Transaction Highlights 1 – Calculate
Slide 8: About Sanara MedTech
About Sanara MedTech Pure-play surgical solutions business focused on the operating room setting, with innovative technologies, strong IP, a proven and scalable commercial engine and a compelling margin profile. 1 – Historical financial information based on Sanara’s public filings | 8 | PREPARE PROM
Slide 9: Strong Business Alignment Drives Compelling Deal Rationale
CellerateRX® Surgical Leading Collagen Particulate Strong Business Alignment Drives Compelling Deal Rationale | 9 | OsStic Synthetic Injectable Structural Bio-Adhesive BIASURGE® No-Rinse Surgical Irrigation Solution Expands Product Offering with Differentiated, Innovative Technologies Strong Cultura
Slide 10: Transaction Details
Transaction Details | 10 | Consideration Run-Rate Cost Synergies & Combined Financial Profile Timing / Approvals • Acquiring Sanara for $35 per share, representing a 46% premium to Sanara’s 30-day volume weighted average share price as of July 28, 2026 • Purchase price comprised of: • $33 per share
Slide 11: About MIMEDX
About MIMEDX —e__ MIMEDX
Slide 12: Targeting Surgical Applications That Reduce Health & Economic Burdens
Increased Morbidity & Mortality Increased Hospitalization Costs Increased Reoperation Rate Reduced Quality of Life Extended Length of Stay Increased Readmission Rates The Consequences: Anastomotic leak complications include1: Targeting Surgical Applications That Reduce Health & Economic Burdens Comp
Slide 13: Additional Surgical Studies Underway Highlight Product Versatility
Additional Surgical Studies Underway Highlight Product Versatility | 13 | Generating Clinical Data in Numerous Surgical Disciplines Incorporating Use of MIMEDX Products AMNIOEFFECT in High-Risk Vascular Published April 2026 Vascular Published May 2025 Journal of Drugs in Dermatology EPIFIX in Mohs (
Slide 14: Addressing a Large and Unmet Need for Wound Healing Solutions
Addressing a Large and Unmet Need for Wound Healing Solutions 1 - Sen CK, et al. Human Wound and Its Burden: Updated 2025 Compendium of Estimates. Adv Wound Care (New Rochelle). 2025; doi: 10.1177/21621918251359554 2 - Tettelbach WH, et al. Cost-effectiveness of dehydrated human amnion/chorion membr
Slide 15: The Most Comprehensive End-To-End Product Ecosystem
The Most Comprehensive End-To-End Product Ecosystem Leading the field with science, clinical efficacy and a customer and patient-centric go-to-market mindset | 15 | The most studied portfolio of placental products with a growing compendium of published scientific, clinical and health outcome data La
Slide 16: Unmatched Peer-Reviewed Published Evidence Supporting Our Portfolio
The Most Comprehensive End-To-End Product Ecosystem Unmatched peer-reviewed published evidence supporting our product portfolio | 16 | The most studied portfolio of placental products with a growing compendium of published scientific, clinical and health outcome data Broadest commercial payor covera
Slide 17: National Footprint with Labor and Delivery Centers
The Most Comprehensive End-To-End Product Ecosystem National footprint with labor and delivery centers to obtain placental tissue | 17 | Consent for Donation Obtained Delivery of Healthy Baby via Caesarean Section Donated Placental Tissues Recovered Tissues Transported to MIMEDX National Network of
Slide 18: Leveraging Robust IP Portfolio, Knowhow and Expertise
The Most Comprehensive End-To-End Product Ecosystem Leveraging robust IP portfolio, knowhow and expertise to drive continued innovations for Wound & Surgical markets | 18 | New product innovations leading to untapped opportunities for growth, including an increasing footprint in the Surgical market.
Slide 19: MIMEDX Connect Practice Management Tools
The Most Comprehensive End-To-End Product Ecosystem MIMEDX Connect offers a full suite of practice management tools in a single online portal to help customers simplify workflows, maximize efficiency and increase lifetime value of each customer | 19 | A key partner to healthcare professionals with i
Slide 20: Strategic Priority: Product Innovation & Diversification
Strategic Priority Focus on Continued Product Innovation & Diversification | 20 | Continuing to innovate and evolve our offering for Surgical & Wound Numerous opportunities and areas for expansion Driving higher growth in Surgical Achieving a more balanced business mix between Wound & Surgical Acqui
Slide 21: Q2:26 Recap – Sustained Surgical Performance & Sequential Wound Rebound
Q2:26 Recap – Sustained Surgical Performance & Sequential Wound Rebound 1) Adjusted Gross Margin and Adjusted EBITDA and related margins are non-GAAP financial measures. See the Appendix for a reconciliation to the nearest GAAP measure. | 21 | Surgical 15% Growth vs. Q2:25 Adj. Gross Margin1 74% GAA
Slide 22: Experienced, Skillful Leadership Team Executing Strategy
Experienced, Skillful Leadership Team Executing Strategy Prior Roles Include: Management Team with Track Record of Success in MedTech Joe Capper Chief Executive Officer Doug Rice Chief Financial Officer Butch Hulse Chief Administrative Officer & General Counsel Kim Moller Chief Commercial Officer Jo
Slide 23: Investment Rationale
Investment Rationale | 23 | Addressing large & expanding Surgical markets and continuing a legacy of leadership in Wound Acquisition of Sanara MedTech accelerates Surgical growth Key competitive advantages with innovative products, extensive IP, proprietary technologies and expansive sales infrastru
Slide 24: Thank You
THANK YOU MIMEDX 1775 West Oak Commons Ct. Marietta, GA 30062 888.543.1917 | 770.651.9100 | 24 |
Slide 25: Appendix
Appendix mS MIMEDX
Slide 26: Adjusted EBITDA - QTD
Adjusted EBITDA - QTD | 26 | Amounts (in millions) for the three months ended June 30, 2026 June 30, 2025 Net (loss) income – GAAP $ (14.8) $ 9.6 Strategic legal and regulatory expenses 3.9 2.5 Reorganization expense 3.8 0.8 Amortization of intangible assets 1.1 2.6 Stock-based compensation expense
Slide 27: Adjusted EBITDA - YTD
Adjusted EBITDA - YTD | 27 | Amounts (in millions) for the six months ended June 30, 2026 June 30, 2025 Net (loss) income – GAAP $ (25.7) $ 16.6 Strategic legal and regulatory expenses 8.4 4.2 Reorganization expenses 3.8 0.8 Amortization of intangible assets 2.2 5.3 Depreciation expense 1.0 1.1 Stra
Slide 28: Adjusted Net Income and Adjusted EPS - QTD
Adjusted Net Income and Adjusted EPS - QTD | 28 | Amounts (in millions) for the three months ended June 30, 2026 June 30, 2025 Net income (loss) - GAAP $ (14.8) $ 9.6 Strategic legal & regulatory expenses 3.9 2.5 Reorganization expense 3.8 0.8 Amortization of acquired intangible assets 0.8 2.5 Strat
Slide 29: Adjusted Net Income and Adjusted EPS - YTD
Adjusted Net Income and Adjusted EPS - YTD | 29 | Amounts (in thousands) for the six months ended June 30, 2026 June 30, 2025 Net income (loss) - GAAP $ (25.7) $ 16.6 Strategic legal & regulatory expenses 8.4 4.2 Reorganization expenses 3.8 0.8 Amortization of acquired intangible assets 1.6 5.1 Stra
Slide 30: Adjusted Gross Profit and Adjusted Gross Profit Margin - QTD
Adjusted Gross Profit and Adjusted Gross Profit Margin - QTD | 30 | Three Months Ended Amounts (in millions) June 30, 2026 June 30, 2025 GAAP gross profit $ 44.4 $ 79.9 Reorganization expense 1.9 — Amortization of acquisition-related intangible assets 0.8 2.5 Strategic software implementation costs
Slide 31: Adjusted Gross Profit and Adjusted Gross Profit Margin - YTD
Adjusted Gross Profit and Adjusted Gross Profit Margin - YTD | 31 | Six Months Ended Amounts (in millions) June 30, 2026 June 30, 2025 GAAP gross profit $ 86.0 $ 151.6 Reorganization expense 1.9 — Amortization of acquisition-related intangible assets 1.6 5.1 Strategic software implementation costs 0
Slide 32: Investor Conference Call July 29, 2026
Investor Conference Call July 29, 2026
Slide 33: Call Agenda
Call Agenda Discussion of Sanara MedTech Acquisition Review of Q2:26 Operating & Financial Results & (standalone) 2026 Outlook Q&A | 2 |
Slide 34: Disclaimer & Cautionary Statements
Disclaimer & Cautionary Statements This presentation and our earnings call includes forward-looking statements. Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materiall
Slide 35: Disclaimer: No Offer or Solicitation
Disclaimer No Offer or Solicitation This presentation does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or approval with respect to the Transactions or otherwise, nor shall there be any sale, issuance or transfer
Slide 36: Opening Remarks
Opening Remarks Joseph H. Capper, Chief Executive Officer | 5 |
Slide 37: Leading Surgical-Focused Combination Driving Growth, Scale & Profitability
Leading Surgical-Focused Combination Driving Growth, Scale & Profitability | 6 | HEAL PROTECT HUMANS PROMOTE HELPING PREPARE
Slide 38: Sanara Squarely Fits Our Deal Criteria
Sanara Squarely Fits Our Deal Criteria Accelerates strategic priority to expand Surgical footprint Revenue generating & growing Adj. EBITDA accretive 510(k) product portfolio unlocks $4 billion1 of incremental TAMs | 7 | Sanara transaction achieves each of these goals Adds >$100 million in Surgical
Slide 39: Transaction Transforms Surgical Footprint & Strengthens Financial Profile
Transaction Transforms Surgical Footprint & Strengthens Financial Profile 1 – Based on Management Estimates 2 – 2026 Financial outlook provided on July 29, 2026; actual results may differ 3 – Based upon revenue mix year-to-date through June 30, 2026 | 8 | Surgical Soft Tissue Surgical Musculoskeleta
Slide 40: Combination Provides Scale Via Multiple Surgical Commercial Channels
Combination Provides Scale Via Multiple Surgical Commercial Channels | 9 | Transaction grows surgical footprint across soft tissue and musculoskeletal categories MIMEDX Surgical (Soft Tissue) Sanara Surgical (Soft Tissue) Sanara Surgical (Musculoskeletal) Combined Surgical Revenue Combined 2027 Surg
Slide 41: Highlights From Sanara's Attractive Portfolio & Pipeline
CellerateRX Market-leading collagen particulate ~$80MM LTM revenue Indicated for management of surgical, traumatic, partial and full-thickness wounds and first and second-degree burns Highlights From Sanara’s Attractive Portfolio & Pipeline | 10 | | 10 | OsStic Synthetic injectable structural bio-ad
Slide 42: Q2:26 Highlights
Q2:26 Highlights —— MIMEDX
Slide 43: Q2:26 Recap – Sustained Surgical Performance & Sequential Wound Rebound
Q2:26 Recap – Sustained Surgical Performance & Sequential Wound Rebound 1) Adjusted Gross Margin and Adjusted EBITDA and related margins are non-GAAP financial measures. See the Appendix for a reconciliation to the nearest GAAP measure. | 12 | Surgical 15% Growth vs. Q2:25 Adj. Gross Margin1 74% GAA
Slide 44: Strategic Priority: Product Innovation & Diversification
Strategic Priority Focus on Continued Product Innovation & Diversification | 13 | Continuing to innovate and evolve our offering for Surgical & Wound Numerous opportunities and areas for expansion Driving higher growth in Surgical Achieving a more balanced business mix between Wound & Surgical Acqui
Slide 45: CMS Holds Steady on Reimbursement Reform in 2027
• Meaningful reduction in Medicare spend, due to new payment rate significantly below prior levels as industry navigates a 90%+ drop in spend YTD. • Patient volume and larger wounds shifting back to HOPD & Wound Care Centers, which benefit from sizable application fee. • Clarity that fixed pricing r
Slide 46: The Exciting Momentum in Surgical Continues!
The Exciting Momentum in Surgical Continues! | 15 | Strong, Sustained Progress in Surgical with Balanced Growth Across Sheet & Particulate Portfolios Signs of Rebound in Wound with Patient Migration to Wound Care Centers Taking Volume Up 22% and Revenue Up 11% Over Q1 2026 Marking Opportunity for Sh
Slide 47: MIMEDX Submits Company's First Two 510(k) Applications
MIMEDX Submits Company’s First Two 510(k) Applications | 16 | Placental ECM Particulate Antimicrobial Xenograft The 510(k) designation is an important step to unlock new markets, applications, coverage and claims that we expect will grow our presence across Surgical & Wound soft tissue applications.
Slide 48: Financial Results
Financial Results Doug Rice, Chief Financial Officer | 17 |
Slide 49: Q2:26 Net Sales Summary
• Strong double-digit growth in AMNIOFIX® and AMNIOEFFECT® • High single-digit growth in Particulate portfolio • Initial sale of G4Derm® Plus Highlights Q2:26 Net Sales Summary | 18 | • Continued market disruption from the January 1, 2026 Medicare reimbursement reset • 11% growth quarter-over-quarte
Slide 50: Q2:26 P&L Summary
Q2:26 P&L Summary 1) Adj. Gross Margin, Adj. EBITDA, Adj. Net Income and related margins are non-GAAP financial measures. See the Appendix for a reconciliation to the nearest GAAP measure. | 19 | $10 $15 $24 ($15) ($7) ($8) $80 $48 $16 $3 $44 $46 $13 $3 Adj. EBITDA & Margin1GAAP Net Income & Margin
Slide 51: Strong Balance Sheet Enabled Transaction
Strong Balance Sheet Enabled Transaction | 20 | Net Cash Balance – Q2:25 to Q2:26 ($ Millions) $100 $119 Q2:25 Q2:26 Restructuring and Cost Reduction Initiative Completed a series of cost reduction initiatives intended to: • Reduce operating expenses • Streamline operations • Prioritize growth oppor
Slide 52: 2026 Outlook
2026 Outlook *2026 Outlook provided as of July 29, 2026. Actual results may differ. | 21 | $260-290MM Approaching Breakeven 2026 Net Sales* 2026 Adj. EBITDA*
Slide 53: Transaction Details
Transaction Details | 22 | Consideration Run-Rate Cost Synergies & Combined Financial Profile Timing / Approvals • Acquiring Sanara for $35 per share, representing a 46% premium to Sanara’s 30-day volume weighted average share price as of July 28, 2026 • Purchase price comprised of: • $33 per share
Slide 54: Closing Remarks, Q&A
Closing Remarks, Q&A ———~ MIMEDX
Slide 55: Thank You
THANK YOU MIMEDX 1775 West Oak Commons Ct. Marietta, GA 30062 888.543.1917 | 770.651.9100 | 24 |
Slide 56: Appendix
Appendix a MIMEDX
Slide 57: Adjusted EBITDA - QTD
Adjusted EBITDA - QTD | 26 | Amounts (in millions) for the three months ended June 30, 2026 June 30, 2025 Net (loss) income – GAAP $ (14.8) $ 9.6 Strategic legal and regulatory expenses 3.9 2.5 Reorganization expense 3.8 0.8 Amortization of intangible assets 1.1 2.6 Stock-based compensation expense
Slide 58: Adjusted EBITDA - YTD
Adjusted EBITDA - YTD | 27 | Amounts (in millions) for the six months ended June 30, 2026 June 30, 2025 Net (loss) income – GAAP $ (25.7) $ 16.6 Strategic legal and regulatory expenses 8.4 4.2 Reorganization expenses 3.8 0.8 Amortization of intangible assets 2.2 5.3 Depreciation expense 1.0 1.1 Stra
Slide 59: Adjusted Net Income and Adjusted EPS - QTD
Adjusted Net Income and Adjusted EPS - QTD | 28 | Amounts (in millions) for the three months ended June 30, 2026 June 30, 2025 Net income (loss) - GAAP $ (14.8) $ 9.6 Strategic legal & regulatory expenses 3.9 2.5 Reorganization expense 3.8 0.8 Amortization of acquired intangible assets 0.8 2.5 Strat
Slide 60: Adjusted Net Income and Adjusted EPS - YTD
Adjusted Net Income and Adjusted EPS - YTD | 29 | Amounts (in thousands) for the six months ended June 30, 2026 June 30, 2025 Net income (loss) - GAAP $ (25.7) $ 16.6 Strategic legal & regulatory expenses 8.4 4.2 Reorganization expenses 3.8 0.8 Amortization of acquired intangible assets 1.6 5.1 Stra
Slide 61: Adjusted Gross Profit and Adjusted Gross Profit Margin - QTD
Adjusted Gross Profit and Adjusted Gross Profit Margin - QTD | 30 | Three Months Ended Amounts (in millions) June 30, 2026 June 30, 2025 GAAP gross profit $ 44.4 $ 79.9 Reorganization expense 1.9 — Amortization of acquisition-related intangible assets 0.8 2.5 Strategic software implementation costs
Slide 62: Adjusted Gross Profit and Adjusted Gross Profit Margin - YTD
Adjusted Gross Profit and Adjusted Gross Profit Margin - YTD | 31 | Six Months Ended Amounts (in millions) June 30, 2026 June 30, 2025 GAAP gross profit $ 86.0 $ 151.6 Reorganization expense 1.9 — Amortization of acquisition-related intangible assets 1.6 5.1 Strategic software implementation costs 0