Sanara MedTech Inc. Announces Update to Strategic Plans
FORT WORTH, TX / ACCESSWIRE / October 30, 2019 / Based in Fort Worth, Texas, Sanara MedTech Inc. (“Sanara” or “the Company”) (OTCQB:SMTI), a provider of surgical and chronic wound care products dedicated to improving patient outcomes, announced an update today to its strategic plans.
Acute Care/Surgical Division Expansion
Sanara’s Acute Care/Surgical Division continues to expand its Regional Sales Manager (“RSM”) and 1099 network. By January 2020, the division expects to grow to over 20 RSM employees. The RSMs recruit, train, and support the 1099 independent sales team, which has tripled in size since the start of Q2 2019. Currently, the additional sales personnel are being trained and recently began selling the Company’s surgical products across nearly all surgical specialties in their respective territories. Through the use of its expanding sales force, Sanara believes there are significant opportunities for increased market penetration and geographic expansion.
The RSM’s and 1099 representatives work with hospitals and ambulatory surgical centers around the country to bring Sanara Activated Collagen® products to patients that could be positively impacted by their use. On average, when entering a new care center, the Acute Care/Surgical Division expects that it will take its sales team 6-9 months to gain facility approval and acceptance. To aid in this process, the division has numerous trials running to support the efficacy and value proposition at these new locations.
Over the next year, the Company has an initiative to offer the BIAKŌS™ ANTIMICROBIAL SKIN & WOUND line of products to both the acute care and surgical markets throughout the United States.
Wound Care Division Expansion
By the end of the first quarter 2020, Sanara’s Wound Care Division plans to materially increase the number of RSM’s covering the continental U.S. market. The RSMs work with skilled nursing facilities, home health care providers, wound centers, physician offices, and hospitals where the Company’s products are used to treat patients. These facilities and providers are currently supplied by several national DMEs and distributors. Sanara also has signed a distribution agreement with an e-commerce site to support patients ordering the Company’s products when they are not on a plan of care.
The Wound Care Division continues to pursue corporate wound care formulary adoptions and pull-through in the facilities where Sanara’s products are approved for use. Additionally, Sanara is currently in negotiations with a number of national distribution companies to carry its products. The Company expects this initiative to provide access to a significant number of skilled nursing facilities and home health agencies ensuring that more patients are able to benefit from Sanara’s highly efficacious products. Similar to the Acute Care/Surgical Division, when entering a new care center, the Wound Care Division expects that it will take its sales team 6-9 months to gain facility approval and acceptance. Currently, the division is running several trials in support of these efforts at these new locations.
Product Pipeline
As previously announced, through a license agreement with its licensing and development partner, Rochal Industries LLC (“Rochal”), Sanara plans to launch its BIAKŌS™ Antimicrobial Barrier Film and CuraShield™ No Sting Skin Protectant products in the second quarter of 2020. Sanara continues to work with Rochal on a number of impactful new medical device designs with plans to bring them to market in the coming years. In 2020, the Company expects to introduce a gel to complement its BIAKŌS™ ANTIMICROBIAL SKIN & WOUND CLEANSER. Both products would be effective against planktonic microbes as well and immature and mature biofilms. When used together, the cleanser can be used initially to clean a wound and disrupt biofilms (removing 99% in 10 minutes). The gel can then be applied and will remain in the wound for up to 72 hours eliminating biofilms between normal dressing changes.
In addition to the BIAKŌS™ ANTIMICROBIAL WOUND GEL, Sanara is also working with Rochal to develop a debrider, a flowable scaffold that can be used to fill tunneling or undermining wounds, an oxygen transport device for use in hypoxic wounds, and a liquid bandage to treat skin tears and other similar wounds and skin conditions.
