MiMedx Group Acquires Sanara MedTech in a Cash Plus Stock Deal Worth $350 Million

MiMedx Group, Inc. (MDXG) entered a merger agreement on July 29, 2026, to acquire Sanara MedTech Inc. (SMTI), in a deal valued at $350 million.

Deal Structure:

MiMedx will acquire all of the outstanding shares of Sanara in a cash and stock transaction valued at $35 per Sanara share, representing a 15.7% premium from the stock’s last close.

Sanara shareholders will receive $33 in cash and 0.4735 shares of MiMedx common stock for each share of Sanara common stock they own.

Company Profile:

Sanara MedTech is a medical technology company that develops and sells surgical tissue-repair, wound-care and biologic products to hospitals and healthcare providers in the United States. Its portfolio includes collagen powders, antimicrobial solutions, extracellular matrix products and bone-graft materials.

MiMedx is a medical technology company that develops and sells placental tissue-based allografts used in wound care, burn treatment, surgery and sports medicine. Its products are primarily distributed in the United States through direct sales teams, agents and distributors.

Deal Details and Timeline:

Sanara offers surgical products, including CellerateRX Surgical Powder and BIASURGE Advanced Surgical Solution. The company is also working toward a 2027 commercial launch of OsStic BioAdhesive Advanced Bone Fixation, an FDA-designated Breakthrough Device.

MiMedx expects to fund the cash portion of the transaction using cash on hand and proceeds from a committed $300 million term loan provided by Hayfin Capital Management. Upon completion of the new financing, MiMedx will terminate its existing credit agreement and repay all outstanding amounts in full.

The deal is expected to close by the end of 2026.

Truist Securities is serving as Sanara’s financial advisor, while Alston & Bird is its legal advisor. Centerview Partners is advising MiMedx on financial matters, and Greenberg Traurig is providing legal counsel.

MiMedx is paying 2.74 times the sales of Sanara MedTech.

Deal Metrics:

For an in-depth analysis and further details regarding this merger, please follow this link:

Deal Metrics for the acquisition of Sanara MedTech Inc. (SMTI) by MiMedx Group, Inc. (MDXG)

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Editor’s Note: Baranjot Kaur contributed to this article