Brief: MIMEDX Announces Strategic Realignment

MiMedx

20/06/2023 21:27

June 20 (Reuters) - MiMedx Group Inc  MDXG.O :
    * MIMEDX ANNOUNCES STRATEGIC REALIGNMENT: INCREASES FOCUS ON
WOUND
& SURGICAL BUSINESS, EXPECTED TO SIGNIFICANTLY IMPROVE
PROFITABILITY
    * MIMEDX GROUP INC- RESTRUCTURING EXPECTED TO GENERATE
APPROXIMATELY $25 MILLION IN ANNUALIZED SAVINGS
    * MIMEDX GROUP INC - RESTRUCTURING EXPECTED TO GENERATE
APPROXIMATELY $25 MILLION IN ANNUALIZED SAVINGS
    * MIMEDX GROUP INC- RAISING EXPECTATIONS TO DELIVER
MID-TEENS
PERCENTAGE NET SALES GROWTH DURING 2023
    * MIMEDX GROUP INC - SUSPENDING CURRENT ACTIVITIES
ASSOCIATED WITH
KNEE OSTEOARTHRITIS PROGRAM AND DISBANDING REGENERATIVE MEDICINE
BUSINESS UNIT
    * MIMEDX GROUP INC- EXPECT ONE-TIME WIND DOWN EXPENSES TO BE
APPROXIMATELY $5 MILLION DOLLARS.
    * MIMEDX GROUP INC- . ON A PRO FORMA BASIS, WE EXPECT
ACTIONS
WOULD HAVE ADDED APPROXIMATELY $25 MILLION OF ADJUSTED EBITDA
FOR FULL YEAR 2023

Source text for Eikon:  ID:nGNX2557HY 
Further company coverage:  MDXG.O 

 ((Reuters.Briefs@thomsonreuters.com;))