Sanara Medtech to acquire Precision Healing

Sanara MedTech (NSDQ:SMTI) announced today that it entered into a definitive merger agreement with Precision Healing.

Fort Worth, Texas-based Sanara’s agreement will result in Precision Healing merging with and into a wholly-owned subsidiary of Sanara, with both companies’ boards of directors approving the transaction.

According to a news release, the companies expect the merger, which also received the requisite approval of Precision Healing stockholders, to close today.

Before the transaction, Sanara owned 25.7% of Precision Healing on a fully diluted basis. The purchase price for the merger includes approximately $5.1 million in stock and cash consideration, the majority of which will be paid by Sanara in stock with a limited number of non-accredited investors receiving cash. Sanara said it expects to enter into employment agreements with all “key” Precision Healing employees.

Precision Healing designs the Precision Heal…

Read more
  • 0

Sanara MedTech appoints new CEO

Sanara MedTech (NSDQ:SMTI) announced today that it appointed Zachary B. Fleming as its new CEO, effective Jan. 1, 2022.

Fort Worth, Texas-based Sanara, formerly known as Wound Management Technologies, develops wound and skincare products for the wound care and surgical tissue repair markets.

“I am proud of what our team has accomplished to date for all of our stakeholders, including the patients, doctors, and clinicians who use our products,” Fleming said in a news release. “I am looking forward to the opportunity to lead the Sanara MedTech team, and to continue to work with Ron and the entire Sanara MedTech board to execute our strategy. Together, we will work to expand our surgical product offering, implement Sanara’s comprehensive wound and skin strategy, and fulfill our mission of providing products and technologies that offer a value-based solution while improving outcomes for wound patients.”

Fleming joined the company as its VP of sale…

Read more
  • 0