MiMedx suspends KOA program, focuses on wound care, raises 2023 sales guidance to mid-teens growth

MIMEDX GROUP, INC.

Suspending knee osteoarthritis program and disbanding Regenerative Medicine unit; President Dr. Stein departing.
Expects ~$25M annualized Adjusted EBITDA savings; one-time wind-down costs of ~$5M.
Raises 2023 net sales growth outlook from low-double digits to mid-teens.
Focus on Wound & Surgical business to drive profitability and cash flow.
Conference call at 5:30pm ET today to discuss strategic realignment.

item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Dr. Robert Stein

President of Regenerative Medicine business unit

MDXG · MIMEDX GROUP, INC.

Filed: June 20, 2023, 7:59 PM ET

Dr. Robert Stein’s position as President of the Company’s Regenerative Medicine business unit was eliminated as part of the realignment, and he will be departing from the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Dr. Robert Stein departed as President of Regenerative Medicine business unit at MIMEDX GROUP, INC..

Action: departing
Role: President of Regenerative Medicine business unit

Exact text from the filing

Dr. Robert Stein’s position as President of the Company’s Regenerative Medicine business unit was eliminated as part of the realignment, and he will be departing from the Company.

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MIMEDX GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001376339-23-000046

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