Sanara MedTech and InfuSystem Announce Wound Therapy Partnership
FORT WORTH, TX / GLOBENEWSWIRE / NOVEMBER 3, 2022 / Sanara MedTech Inc. (“Sanara,” the “Company,” “we,” “our” or “us”) (NASDAQ: SMTI) and InfuSystem Holdings, Inc. (“InfuSystem”) (NYSE American: INFU) announced today the establishment of a partnership, SI Wound Care, LLC (“SI Wound Care”), focused on delivering a complete wound care solution targeted at improving patient outcomes, lowering the cost of care, and increasing patient and provider satisfaction. The partnership is expected to enable InfuSystem to offer innovative products including Cork Medical, LLC’s (“Cork”) negative pressure wound therapy (“NPWT”) devices and supplies and Sanara’s advanced wound care product line and associated services to new customers.
Zach Fleming, Sanara’s CEO, stated, “NPWT is a key technology offering in the wound care market that has benefitted millions of wound care patients. By pairing Sanara’s product line and deep expertise in wound care with InfuSystem’s existing NPWT business, including sales, distribution, clinical support, and revenue cycle capabilities, we hope to offer a compelling solution to a broader patient universe; offering significant value and improved outcomes for patients, providers, and payors.”
Each partner brings a differentiated and complementary offering to the companies’ combined solution:
- Sanara – The Sanara team has significant wound care expertise in the acute care setting as well as the entire continuum of care. Sanara currently employs sales managers with deep industry experience across the United States. Sanara believes its advanced portfolio of wound care products is complementary to NPWT services and can be used before, during, or after NPWT to remove microbes from the wound bed and promote healing.
- InfuSystem – InfuSystem is a participating in-network provider for more than 770 health insurance networks covering over 95% of the U.S. population and has seven distribution centers across North America. InfuSystem can leverage this infrastructure to gain acceptance for the new products and services. Additionally, InfuSystem is a distributor of Cork NPWT devices and supplies in the United States and Canada. The partnership is expected to enable InfuSystem to offer new products and thereby reach new NPWT business throughout the continuum of care, from the hospital to the home.
Richard Dilorio, InfuSystem’s CEO, stated, “Over the past few years, we have built our NPWT business, as a turnkey solution with a focus on offering high quality options to patients and providers. We believe the wound care market represents a significant opportunity to drive revenue growth for the Integrated Therapy Services (“ITS”) platform by treating both chronic and acute wounds. Partnering with Sanara enables us to better serve patients and care providers nationally by offering a complete line of advanced wound care products.”
About Sanara MedTech Inc.
With a focus on improving patient outcomes through evidence-based healing solutions, Sanara MedTech Inc. markets, distributes and develops wound and skincare products for use by physicians and clinicians in hospitals, clinics, and all post-acute care settings and offers wound care and dermatology virtual consultation services via telemedicine. Sanara’s products are primarily sold in the North American advanced wound care and surgical tissue repair markets. Sanara markets and distributes CellerateRX® Surgical Activated Collagen®, FORTIFY TRG™ Tissue Repair Graft and FORTIFY FLOWABLE™ Extracellular Matrix as well as a portfolio of advanced biologic products focusing on AMPLIFY™ Verified Inductive Bone Matrix, ALLOCYTE™ Advanced Cellular Bone Matrix, BiFORM® Bioactive Moldable Matrix and TEXAGEN™ Amniotic Membrane Allograft to the surgical market. In addition, the following products are sold to the wound care market: BIAKŌS™ Antimicrobial Skin and Wound Cleanser, BIAKŌS™ Antimicrobial Wound Gel, BIAKŌS™ Antimicrobial Skin and Wound Irrigation Solution and HYCOL™ Hydrolyzed Collagen. Sanara’s pipeline also contains potentially transformative product candidates for mitigation of opportunistic pathogens and biofilm, wound re-epithelialization and closure, necrotic tissue debridement, and cell compatible substrates. The Company believes it has the ability to drive its pipeline from concept to preclinical and clinical development while meeting quality and regulatory requirements. Sanara is constantly seeking long-term strategic partnerships with a focus on products that improve outcomes at a lower overall cost. In addition, Sanara is actively seeking to expand within its six focus areas of wound and skincare for the acute, post-acute, and surgical markets. The focus areas are debridement, biofilm removal, hydrolyzed collagen, advanced biologics, negative pressure wound therapy adjunct products, and the oxygen delivery system segment of the healthcare industry.
About InfuSystem Holdings, Inc.
InfuSystem Holdings, Inc. (NYSE American: INFU), is a leading national health care service provider, facilitating outpatient care for durable medical equipment manufacturers and health care providers. InfuSystem services are provided under a two-platform model. The lead platform is Integrated Therapy Services , providing the last-mile solution for clinic-to-home healthcare where the continuing treatment involves complex durable medical equipment and services. The ITS segment is comprised of Oncology, Pain Management, Wound Therapy and Lymphedema businesses. The second platform, Durable Medical Equipment Services (“DME Services”), supports the ITS platform and leverages strong service orientation to win incremental business from its direct payer clients. The DME Services segment is comprised of direct payer rentals, pump and consumable sales, and biomedical services and repair. Headquartered in Rochester Hills, Michigan, InfuSystem delivers local, field-based customer support and also operates Centers of Excellence in Michigan, Kansas, California, Massachusetts, Texas and Ontario, Canada.
Information about Forward-Looking Statements
The statements in this press release that do not constitute historical facts are “forward-looking statements,” within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. These statements may be identified by terms such as “anticipates,” “believes,” “contemplates,” “continue,” “could,” “estimates,” “expect,” “forecasts,” “guidance,” “intend,” “may,” “plan,” “possible,” “potential,” “predicts,” “preliminary,” “projects,” “seeks,” “should,” “targets,” “will” or “would,” or the negatives of these terms, variations of these terms or other similar expressions. These forward-looking statements include, among others, statements regarding the ability to successfully integrate Sanara’s product line and expertise with InfuSystem’s existing NPWT business into the combined offering, the development of new products, the regulatory approval process and expansion of the Company’s business. These items involve risks, contingencies and uncertainties such as the extent of product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, uncertainties associated with the development and process for obtaining regulatory approval for new products, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company’s SEC filings, which could cause the Company’s actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements.
All forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events, except as required by applicable securities laws.
Callon Nichols, Director of Investor Relations
SOURCE: Sanara MedTech Inc.