FORT WORTH, TX / ACCESSWIRE / November 14, 2019 / Sanara MedTech Inc.
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 today its strategic, operational and financial results for the quarter and nine-months ended September 30, 2019.
Ron Nixon, Sanara’s Executive Chairman stated, “Sanara’s third quarter 2019 results reflect management’s continued focus on the execution of our strategy to expand the Company’s sales force in both new and existing U.S. markets as well as our new product introductions to the wound care market. We expect our expanded distribution, training, and new products to drive revenue growth as we lay the groundwork for our national market penetration.”
Third Quarter 2019 Strategic and Operational Highlights
Sanara sees a significant market opportunity with these products for any patients suffering from incontinence-related dermatitis, colostomy-related dermatitis, and medical adhesive-related skin injuries. The Company believes that these products will lead to significantly reduced nursing costs and time spent applying barrier film dressings such as zinc ointment. Additionally, the company sees a significant advantage when comparing BIAKŌS™ Antimicrobial Barrier Film to competitors due to their lack of an antimicrobial action.
Commentary on Future Products – Strong Pipeline with Multiple Products at Various Stages of Commercialization.
Third Quarter 2019 Consolidated Financial Results – Sanara MedTech Inc. Generating Strong Growth and Continuing Execution of Strategic Plan
Sanara is still in the early stages of introducing the BIAKŌS™ family of products to the post-acute care market and expects revenue generation from these devices to increase as a percentage of total sales in the future. The Company is currently pursuing corporate wound care formulary adoption and pull-through in the facilities where its products are already approved for use. Furthermore, Sanara is in negotiations with a number of additional national distribution companies to carry its products. As part of these expansion efforts into new locations, the Wound Care Division is currently running several trials to demonstrate the benefits of BIAKŌS™ products.
The expansion of SG&A costs is consistent with the Company’s strategy of building out a larger sales force and independent distribution network. New sales reps generally take six to nine months on average to begin generating revenue. The Company expects SG&A expenses to decline as a percentage of revenue in the next two years as the revenue generated by its new sales force and products begins to offset the cost of expanding the sales force.
About Sanara MedTech Inc.
With a focus on improving patient outcomes through evidence-based healing solutions, Sanara MedTech Inc. markets and distributes wound and skincare products to physicians, hospitals, clinics, and all post-acute care settings. We are constantly seeking long-term strategic partnerships with a focus on products that produce efficacious outcomes at a lower overall cost. Our products are primarily sold in the North American advanced wound care and surgical tissue repair markets. Sanara MedTech markets and distributes CellerateRX® Surgical Activated Collagen® to the surgical markets as well as the following products to the wound care market: BIAKŌS™ Antimicrobial Skin and Wound Cleanser, HYCOL™ Hydrolyzed Collagen, and PULSAR II™ Advanced Wound Irrigation™ (AWI). 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. For more information, visit SanaraMedTech.com.
Information about Forward-Looking Statements
The statements in the press release that relate to the Company’s expectations with regard to the future impact on the Company’s results from new products in development and any other statements not constituting 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. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company’s operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, 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. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
Callon Nichols, Director of Investor Relations
SOURCE: Sanara MedTech Inc.