smti_ex991
Exhibit 99.1
Sanara MedTech Inc. Announces Exclusive Partnership with Pixalere
Healthcare Inc. to Advance its Comprehensive Wound and Skin Care
Strategy
FORT WORTH, TX / ACCESSWIRE / June 4, 2021 / Sanara MedTech
Inc.
Based in Fort Worth, Texas, Sanara MedTech Inc.
(“Sanara,” the “Company,” “we,”
“our” or “us”) (NASDAQ: SMTI), a provider
of surgical and chronic wound care products dedicated to improving
patient outcomes, announced today that it has closed an exclusive
partnership with Pixalere Healthcare Inc.
(“Pixalere”).
Ron Nixon, Sanara’s Executive Chairman, stated,
“Our goal at Sanara
MedTech is to offer comprehensive wound and skin care solutions
across all care settings. Our partnership with Pixalere is key to
furthering that goal by combining Pixalere’s technology,
including decision support, documentation, and wound tracking
analytics, with complementary Sanara solutions that offer virtual
access to expert wound and skin physicians/clinicians, advanced
diagnostics, and wound care product order
fulfillment.”
Investment and Partnership Overview
Sanara
purchased Class A Preferred Shares of Pixalere convertible into
27.3% of the outstanding equity of Pixalere. Sanara will report its
investment in Pixalere using the using the equity method of
accounting. Sanara’s 27.3% share of Pixalere’s
operations will be included in Sanara’s Statement of
Operations as Other income (or expense).
In
conjunction with this investment, Sanara has established Pixalere
Healthcare USA, LLC (“Pixalere USA”) as a subsidiary of
Sanara. Pixalere granted Pixalere USA a royalty-free exclusive
license to use the Pixalere software and platform in the United
States. In exchange for the exclusive license, Pixalere USA issued
a 27.3% equity ownership interest to Pixalere.
Pixalere Overview
Pixalere
is a cloud-based wound care software tool that empowers nurses,
specialists, and administrators to deliver better care from the
patient bedside. Currently, Pixalere serves and supports 8,000+
daily clinical users as they treat 40,000+ patients with wounds
annually in Canada and other non-U.S. markets. Pixalere currently
provides the following solutions to its customers:
●
A collaboration
tool for nurses and wound care specialists
●
Wound tracking
analytics
●
Recommended
treatment plans/decision support
These
capabilities are currently being integrated with Sanara’s
WounDerm platform to better serve the U.S. wound care
market.
Pixalere/WounDerm Integration
Sanara’s partnership with Pixalere advances the
Company’s comprehensive wound and skin care strategy by
integrating key solutions that have been developed by WounDerm with
Pixalere’s current capabilities. This is expected to allow
Sanara’s technology to be paired with a proven scalable model
that arms bedside caregivers who do not specialize in wound care
with more information and guidance than the current standard of
care.
The WounDerm features currently being integrated with Pixalere
include:
●
The WounDerm mobile app
●
Wound care plan algorithms
●
Efficient revenue cycle workflows
●
Automated and editable progress note development
●
Wound assessment forms that interface with corresponding wound
assessment data in providers’ electronic health records
systems and practice management systems.
The partnership will utilize Pixalere’s experienced IT
team to support the maintenance and customization requests that
Pixalere USA will require.
Sanara and Pixalere plan to explore the use of the Precision
Healing smart pad and imager, Sanara’s proprietary product
portfolio, and Sanara’s telehealth services in
Pixalere’s current non-U.S. markets which include Canada,
South Africa, Australia and New Zealand.
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 and is seeking to offer 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
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,
BIAKŌS™ Antimicrobial Wound Gel, BIAKŌS™
Antimicrobial Skin and Wound Irrigation Solution and HYCOL™
Hydrolyzed Collagen. 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. For
more information, visit SanaraMedTech.com.
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 “anticipate,”
“believes,” “contemplates,”
“continue” “could,”
“estimates,” “expect,”
“intend,” “may,” “plan,”
“potential” “predicts,”
“preliminary,” “project,”
“seek,” “should,” “target,”
“will,” or “would,” or the negatives of
these terms, variations of these terms or other similar
expressions. These forward-looking statements include statements
regarding the strategic partnership with Pixalere and the
integration of Pixalere’s technology into Sanara’s
product and service offerings, the expansion of the strategic
partnership with Pixalere to non-U.S. markets, the development of
new products and expansion of the Company’s business in
telehealth and wound care. 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, 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.
Investor Contact:
Callon Nichols, Director of Investor Relations
713-826-0524
CNichols@sanaramedtech.com
SOURCE: Sanara MedTech Inc.